AMPI announces record 1995 revenues and earnings on 63% increase in fourth quarter sales.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. 15, 1995-- 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 ) Tuesday Tuesday: see week. announced that revenues of $206,520,000 for the year ended June June: see month. 30, 1995 were up 14% compared to total revenues of $181,360,000 for fiscal 1994. Fiscal 1995 revenues were aided by a strong performance during the fourth quarter when revenues increased by 57% to $56,656,000 compared to $36,127,000 for the fourth quarter of fiscal 1994. Net earnings for the year were up 5% to $11,548,000 compared to $11,019,000 for the prior year. Earnings per share for fiscal 1995 increased 4% to $1.97 per share, compared to $1.89 per share for fiscal 1994. Net earnings for the fourth quarter ended June 30, 1995 also increased 5% to $3,096,000, compared to $2,963,000 for the fourth quarter of last year, while earnings per share increased 4% to $0.53 per share from $.51 per share for the fourth quarter of fiscal 1994. Patrick E. Paddon, president and chief executive officer, indicated that "Amplicon's fiscal 1995 results, particularly the fourth quarter rebound rebound (rē´bownd), n/v 1. a recovery from illness. n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus rebound adjective , reflect the efforts made over the last year to improve the effectiveness of the sales department. Sales of equipment for the year increased 14% to $178,413,000 compared to $156,740,000 for fiscal 1994. At year end, our current backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of approved transactions is well ahead of the levels at the end of the fourth quarter of fiscal 1994. "Gross profit for the year ended June 30, 1995 increased 11% to $32,751,000 compared to $29,453,000. The increase in gross profit during fiscal 1995 is primarily attributable attributable emanating from or pertaining to attribute. attributable proportion see attributable risk (below). attributable risk to greater income generated from Amplicon's investment in leased property, but is also attributable to greater income realized on a higher volume of new lease transactions. "During fiscal 1995, Amplicon had a significantly greater volume of true lease transactions reach their end of term, producing over a 25% increase in revenues from Amplicon's residual investments during the 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 the year, however, were impacted by significant growth in S, G & A expenses, which increased 13% to $13,663,000 compared to $12,102,000 during the prior year. The increased S, G & A expenses reflected higher costs related to developing the salesforce as well as higher lease related expenses. "As a result of the increase in S, G & A expenses, the percentage increase in pre-tax pre-tax adj → anterior al impuesto pre-tax adj → avant impôt(s) pre-tax adj → al lordo d'imposta earnings during the year ended June 30, 1995 was limited to 10% compared to fiscal 1994. In addition, Amplicon's net earnings during fiscal 1995 were impacted by a higher tax rate of 39.5% for the current year compared to 36.5% the prior year. The increased tax provision in fiscal 1995 reflects changes in the Federal statutory rates and various state tax rates, and the expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of certain tax benefits. "Fiscal 1995 was a successful year for Amplicon from many perspectives. During fiscal 1995, Amplicon achieved record revenues and net income, despite undergoing some significant changes within the sales organization. As we finish the year, I believe we have structured a sales organization geared to maintain consistent production throughout fiscal 1996. For the five years ended June 30, 1995, Amplicon has produced an average 16% return on stockholders equity and at June 30, 1995, Amplicon's total 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. stood at $91,364,000." Amplicon Inc. 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 telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. organization of over 120 sales executives and managers to deliver cost effective leasing alternatives to meet the acquisition needs of customers nationwide.
AMPLICON INC.
Condensed Consolidated Statements of Earnings
(000's except per share data)
Three Months Ended Year Ended
1995 1994 1995 1994
Revenues $56,656 $36,127 $206,520 $181,360 Gross Profit $8,816 $7,966 $32,751 $29,453 Earnings before income taxes $5,117 $4,666 $19,088 $17,352 Net earnings $3,096 $2,963 $11,548 $11,019 Net earnings per share $0.53 $0.51 $1.97 $1.89 Weighted average number of shares outstanding 5,860 5,854 5,860 5,849
AMPLICON INC.
Condensed Consolidated Balance Sheets
(000's)
ASSETS June 30, 1995 June 30, 1994 Cash and short term investments $15,555 $29,335 Net receivables 55,994 39,905 Net investment in capital leases 59,069 59,305 Discounted lease rentals assigned to lenders 266,816 249,938 Other assets 7,082 6,101
$404,516 $384,584
LIABILITIES AND STOCKHOLDERS' EQUITY Notes payable/Bank overdraft (1) $ -- $10,000 Accounts payable 13,393 14,246 Nonrecourse debt 238,614 225,746 Income taxes payable, including deferred taxes 20,369 15,262 Net deferrals (2) 30,114 27,936 Other liabilities 10,662 10,519 Total liabilities $313,152 $303,709 Stockholders' Equity 91,364 80,875
$404,516 $384,584
(1) Note payable of $10,000 at June 30, 1994 was secured by an in-process lease transaction. Amplicon had a non-recourse debt commitment from the same financial institution to finance the lease transaction, which non-recourse financing retired the note payable during the third quarter of fiscal 1995. (2) Includes deferred interest income of $28,202 and $24,192 at June 30, 1995 and June 30, 1994, respectively, which is offset by deferred interest expense related to the company's discounted lease rentals assigned 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 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion