AMPI announces 20 percent increase in first quarter earnings.SANTA ANA Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif.--(BUSINESS WIRE)--Oct. 25, 1996--Amplicon 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 :AMPI AMPI Asociación Mexicana de Profesionales Inmobiliarios (Mexican Association of Real Estate Professionals) AMPI Associated Milk Producers Inc. AMPI Adaptive Message Passing Interface AMPI Automated Mission Planning Infrastructure ) on Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant announced that revenues for the first quarter ended Sept. 30, 1996, increased 18 percent to $66,456,000 from $56,416,000 during the first quarter of fiscal 1996. Net earnings for the first quarter increased 20 percent to $3,172,000 compared with $2,654,000 for the first quarter of last year. Earnings per share for the first quarter ended Sept. 30, 1996, also increased 20 percent to 54 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. compared with 45 cents per share for the first quarter of fiscal 1996. Patrick E. Paddon, president and chief executive officer, said: "During the first quarter, Amplicon maintained a fairly strong level of sales activity. Sales of equipment during the first quarter ended Sept. 30, 1996 were up 17 percent to $57,137,000 compared to $48,663,000 during the first quarter of fiscal 1996. "While most of this gain was related to new lease transactions, the company also showed excellent growth in revenues related to its investment in leased property. "Gross profit for the first quarter of fiscal 1997 increased 18 percent to $10,172,000 compared to $8,611,000 for the first quarter of fiscal 1996. This improvement is primarily attributable attributable emanating from or pertaining to attribute. attributable proportion see attributable risk (below). attributable risk to a significant increase in profits from lease extensions and sales of lease property and higher net interest income. "Net interest and investment income increased 15 percent to $4,256,000 compared to $3,687,000 for the first quarter of fiscal 1996, reflecting increased accretion The act of adding portions of soil to the soil already in possession of the owner by gradual deposition through the operation of natural causes. The growth of the value of a particular item given to a person as a specific bequest under the provisions of a will between the of deferred income and higher interest income realized from a larger investment in residual values Residual value Usually refers to the value of a lessor's property at the time the lease expires. residual value The price at which a fixed asset is expected to be sold at the end of its useful life. . "SG&A expenses during the quarter ended Sept. 30, 1996, increased 19 percent to $4,931,000 compared to $4,151,000 incurred during the first quarter of the prior year. The higher SG&A expenses reflect higher costs related to the sales organization as well as higher lease-related expenses. As a percentage of revenues, SG&A expenses remained at 7.4 percent of revenues, the same percentage as during the first quarter of the prior year." Amplicon is a lessor One who rents real property or Personal Property to another. A lessor of land is a landlord. Cross-references Landlord and Tenant. lessor n. the owner of real property who rents it to a lessee pursuant to a written lease. of high-technology capital assets capital assets n. equipment, property, and funds owned by a business. (See: capital, capital account) with headquarters in Orange County, Calif. Amplicon utilizes an innovative, direct marketing organization of more than 145 sales executives and managers to deliver cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. leasing alternatives to meet the acquisition needs of customers nationwide. -0-
AMPLICON INC.
Condensed Consolidated Statement of Earnings
(000s except per share data)
Three Months Ended
Sept. 30,
1996 1995
Revenues $66,457 $56,416
Gross Profit 10,172 8,611
Earnings before income taxes 5,241 4,460
Income taxes 2,070 1,806
Net earnings $ 3,172 $ 2,654
Net earnings per share $ 0.54 $ 0.45
Weighted average number of
shares outstanding 5,835 5,868
-0-
AMPLICON INC.
Condensed Consolidated Balance Sheets
(000s)
ASSETS Sept. 30, 1996 June 30, 1996
(Unaudited) (Audited)
Cash and short term investments $ 10,292 $ 9,796
Net receivables 67,777 58,777
Net investment in capital leases 81,208 75,945
Discounted lease rentals assigned
to lendors 318,189 313,303
Other assets 4,422 3,928
$482,889 $461,749
LIABILITIES AND STOCKHOLDERS' EQUITY
Notes payable -- --
Accounts payable $ 19,835 $ 10,287
Nonrecourse debt 285,162 279,109
Income taxes payable,
including deferred taxes 21,580 19,507
Net deferrals (1) 38,888 38,473
Other liabilities 11,955 11,708
Total liabilities $377,420 $359,084
Stockholders' Equity 105,469 102,665
$482,889 $461,749
(1) Includes deferred interest income of $34,027 and $34,194 at
Sept. 30, 1996, and June 30, 1996, respectively, which is offset
by deferred interest expense related to the company's net
investment in capital leases and discounted lease rentals
assigned to lendors.
CONTACT: Amplicon Inc., Santa Ana S. Leslie Leslie (Gaelic, derived from a surname meaning 'garden of hollies,'grey fortress, or'garden by the pool')[1] can refer to any of the following: Places in Scotland:
American writer noted for novels and stories concerning her native Maine. The Country of the Pointed Firs (1896) is considered her finest work. , Chief Financial Officer 714/751-7551 |
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