AML Communications Inc. announces record fourth-quarter and year-end results.CAMARILLO Camarillo (kă'mərē`yō), city (1990 pop. 52,303), Ventura co., S Calif.; inc. 1964. It is the center of a fertile farm area where citrus fruits and flowers are grown. , Calif.--(BUSINESS WIRE)--May 15, 1996--AML Communications Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMLJ) Wednesday Wednesday: see week. announced that it reported a record 168 percent increase in revenues to $6,988,000 for the year ended March 31, 1996, compared with revenues of $2,606,000 for the previous year. Net income for fiscal year 1996 advanced substantially to $1,197,000, or 35 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , on 3,440,000 weighted average shares outstanding, in comparison with a net loss of $22,000, or 1 cent per share, on 2,704,000 weighted average shares outstanding for the previous year. For the three months ended March 31, 1996, revenues increased 238 percent to a record $2,608,000, compared with $772,000 for the same period in 1995 and net income escalated to $458,000, or 11 cents per share, on 4,259,000 weighted average shares outstanding, in comparison with net income of $3,000, or 0 cents per share, on 2,734,000 weighted average shares for the three months ended March 31, 1995. Jacob Jacob (jā`kəb), in the Bible, ancestor of the Hebrews, the younger of Isaac and Rebecca's twin sons; the older was Esau. In exchange for a bowl of lentil soup, Jacob obtained Esau's birthright and, with his mother's help, received the blessing Inbar, chairman and chief executive officer of AML AML - A Manufacturing Language Communications, commented on its performance, saying: ``AML's extraordinary performance this year was the result of more cellular-system operators realizing the multiple benefits and resulting revenue value of our multicarrier amplifiers utilizing the Balanced Link concept. ``We believe that as system operators continue their attempt to keep pace with cellular-phone demand in the U.S. by constructing new cell sites while adding capacity to existing sites, AML should maintain its strong growth through continued orders for its amplifiers, repeaters and other related equipment. ``This hallmark hallmark, mark impressed on silverwork or goldwork to signify official approval of the standard of purity of the metal, also called plate mark. The hallmark was introduced by statute in England in 1300 and enforced by the Goldsmiths' Hall, London. year included momentous mo·men·tous adj. Of utmost importance; of outstanding significance or consequence: a momentous occasion; a momentous decision. events which contributed to the accomplishment of AML's financial goals set for the year. The successful completion of our 1.15-million-share public offering in December 1995 brought us approximately $7.7 million in capital necessary for expansion. ``We believe our recent move into a modern 25,000-square-foot manufacturing and administration facility should enable us to meet customer demand and prepare for future product-line expansion and penetration of new markets such as PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. .'' With regard to management's outlook for the coming year, Inbar noted, ``We currently anticipate continued sales growth domestically and hope to see incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. increases derived from new market penetrations Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" abroad.'' AML Communications designs, manufactures and markets multicarrier amplifiers, repeaters and related products for the cellular and other communications markets. -0-
AML COMMUNICATIONS INC.
Selected Information From Income Statement
Fourth quarter ended
March 31,
1996 1995
Net sales $2,608,000 $ 772,000
Income before taxes 694,000 6,000
Provision for income taxes 236,000 3,000
Net income $ 458,000 $ 3,000
Earnings per share 11 cents 0 cents
Weighted average common shares
outstanding 4,259,000 2,734,000
Fiscal year ended
March 31,
1996 1995
Net sales $6,988,000 $2,606,000
Income before taxes 1,920,000 (14,000)
Provision for income taxes 723,000 8,000
Net income $1,197,000 $ (22,000)
Earnings per share 35 cents (1 cent)
Weighted average common shares
outstanding 3,440,000 2,704,000
CONTACT: AML Communications Inc., Camarillo William E. Sheridan, 805/388-1345 or Coffin-KCSA, Sherman Oaks, Calif. Steven B. Johnson, 818/789-0100 |
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