AMPI announces 25 percent growth in 1996 revenues.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)--Aug. 26, 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 Monday Monday: see week. announced that revenues of $267,239,000 for the year ended June June: see month. 30, 1996 were up 25 percent compared with total revenues of $206,520,000 for fiscal 1995. Net earnings for the year were up 13 percent to $12,996,000 compared with $11,548,000 for the prior year. Earnings per share for fiscal 1996 increased 13 percent to $2.22 per share, compared with $1.97 per share for fiscal 1995. For the fourth quarter ended June 30, 1996, revenues were up 21 percent to $68,346,000 compared with $56,656,000 for the fourth quarter of fiscal 1995. Net earnings for the fourth quarter ended June 30, 1996 increased 23 percent to $3,803,000, compared with $3,096,000 for the fourth quarter of last year, while earnings per share also increased 23 percent to 65 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. from 53 cents per share for the fourth quarter of fiscal 1995. Patrick E. Paddon, president and chief executive officer, indicated that, "During fiscal 1996, Amplicon made significant progress on returning the company to our targeted growth plan. Sales of equipment for the year increased 26 percent to $224,818,000 compared with $178,413,000 for fiscal 1995, which increase included a 29 percent increase in sales from new lease transactions. "Gross profit for the year ended June 30, 1996 increased 20 percent to $39,280,000 compared with $32,751,000 in fiscal 1995, while gross profit for the fourth quarter ended June 30, 1996 increased 24 percent to $10,908,000. "The increase in gross profit during fiscal 1996 is primarily attributable attributable emanating from or pertaining to attribute. attributable proportion see attributable risk (below). attributable risk to strong growth in income generated from Amplicon's investment in lease residuals, but is also attributable to higher net interest income. Net interest income for fiscal 1996 increased 14 percent to $13,978,000 compared with $12,214,000 during the prior year. "Amplicon's operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before during fiscal 1996 continued to be impacted by significant growth in S, G&A expenses, which increased 30 percent to $17,800,000 compared with $13,663,000 during the prior year. The increased S, G&A expenses reflected higher costs related to the expansion of the sales organization as well as higher lease related expenses. "As a result of the increase in S, G&A expenses, the percentage increase in net earnings during the year ended June 30, 1996 was limited to 13 percent compared with fiscal 1995. "Fiscal 1996 was a significant year for Amplicon as the company's net worth crossed the $100 million threshold. Of the total net worth of $102,665,000 at June 30, 1996, over 94 percent represented retained earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. . For the five years ended June 30, 1996, Amplicon's revenues have grown at a compound annual average rate of 19 percent and the company has produced an average 14 percent return on stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. . "I am pleased with fiscal 1996 results and believe that Amplicon is well positioned to continue to prosper in fiscal 1997." 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) has headquarters in Orange County, Calif. Amplicon utilizes an innovative, direct marketing organization of over 145 sales executives and managers to deliver cost effective leasing alternatives to meet the acquisition needs of customers nationwide. -0-
AMPLICON INC.
Condensed Consolidated Statements of Earnings
(000's except per share data)
Three Months Ended Year Ended
June 30, June 30,
1996 1995 1996 1995
Revenues $ 68,346 $ 56,656 $257,239 $206,520 Gross Profit $ 10,908 $ 8,816 $ 39,280 $ 32,751 Earnings before income taxes $ 6,285 $ 5,117 $ 21,480 $ 19,088 Net earnings $ 3,803 $ 3,096 $ 12,996 $ 11,548 Net earnings per share $ 0.65 $ 0.53 $ 2.22 $ 1.97
Weighted average
number of shares
outstanding 5,839 5,866 5,849 5,860
-0-
AMPLICON INC.
Condenses Consolidated Balance Sheets
(000's)
ASSETS June 30, 1996 June 30, 1995 Cash and short term investments $ 9,796 $ 15,555 Net receivables 59,177 53,959 Net investment in capital leases 74,196 58,687 Discounted lease rentals assigned to lenders 313,303 266,816 Other assets 3,928 7,083
$460,400 $402,100
LIABILITIES AND STOCKHOLDERS' EQUITY Notes payable $ -- $ -- Accounts payable 10,287 11,411 Nonrecourse debt 279,109 238,614 Income taxes payable, including deferred taxes 19,507 20,369 Net deferrals (1) 36,725 28,767 Other liabilities 12,107 11,575 Total liabilities $357,735 $310,736 Stockholders' Equity 102,665 91,364
$460,400 $402,100
(1) Includes deferred interest income of $34,194 and $28,202 at June 30, 1996 and June 30, 1995, respectively, which is offset by deferred interest expense related to the company's discounted lease rentals assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. to lenders. CONTACT: Amplicon Financial, 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. , 714/751-7551 |
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