AMPI reports 24 percent increase for third quarter.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)--April 28, 1997--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 ) Monday Monday: see week. announced that for the third quarter ending March 31, 1997, revenues increased 15 percent to $76,692,000 compared with $66,842,000 for the third quarter of fiscal 1996. Net earnings for the third quarter increased by 24 percent to $4,156,000, compared to $3,348,000 for the third quarter of last year. Earnings per share for the third quarter ended March 31, 1997 also increased 25 percent to $0.71 per share, compared to $0.57 per share for the third quarter of fiscal 1996. For the nine months ended March 31, 1997, revenues of $217,581,000 were up 15 percent compared to total revenues of $188,893,000 for the first nine months of fiscal 1996. Net earnings for the nine months were up 21 percent to $11,164,000 compared to $9,193,000 for the nine month period of the prior year. Earnings per share for the nine months are up 22 percent to $1.91 per share, compared to $1.57 per share for the prior year. Patrick E. Paddon, president and chief executive officer, indicated that Amplicon's third quarter results reflect better growth in sales from new lease transactions along with strong returns from our residual investments. Sales of equipment during the three months ended March 31, 1997 increased 15 percent to $66,883,000 compared to $58,190,000 during the third quarter of fiscal 1996, and included a 14 percent growth in sales from new lease transactions. Gross profit during the third quarter increased 21 percent to $12,629,000 compared to $10,439,000 during the comparable period of the prior fiscal year. The increase is attributable attributable emanating from or pertaining to attribute. attributable proportion see attributable risk (below). attributable risk to strong earnings from leased property sales and extensions of existing lease transactions and higher net interest income. Net interest and investment income for the third quarter increased 28 percent to $4,682,000 compared to $3,655,000 during the third quarter of the prior year, primarily due to increased interest income realized from the amortization of deferred income and realized from Amplicon's residual investments. 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 third quarter benefited from slower growth in S, G&A expenses than experienced earlier in the year. During the third quarter ended March 31, 1997, S, G&A expenses increased 17 percent to $5,693,000, as compared to $4,869,000, and represented 7.4 percent of total revenues compared to 7.3 percent for the three month period ended March 31, 1996. 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) which has 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. -0-
AMPLICON INC.
Condensed Consolidated Statements of Earnings
(000's except per share data)
Three Months Ended Nine Months Ended
March 31, March 31,
1997 1996 1997 1996
(unaudited)
Revenues $76,692 $66,842 $217,581 $188,893
Gross Profit 12,629 10,439 34,521 28,372
Earnings before
income taxes 6,689 5,534 18,454 15,195
Net earnings $ 4,156 $ 3,348 $ 11,164 $ 9,193
Net earnings
per share $ 0.71 $ 0.57 $ 1.91 $ 1.57
Weighted average
number of shares
outstanding 5,836 5,839 5,835 5,852
-0-
AMPLICON INC.
Condensed Consolidated Balance Sheets
(000's)
ASSETS March 31, 1997 June 30, 1996
(Unaudited) (Audited)
Cash and short term
investments $ 12,056 $ 9,796
Net receivables 87,028 58,777
Net investment in
capital leases 83,946 75,945
Discounted lease rentals
assigned to lenders 303,694 313,303
Other assets 2,782 3,928
$489,506 $461,749
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable $ 29,184 $ 10,287
Nonrecourse debt 268,705 279,109
Income taxes payable,
including deferred taxes 25,732 19,507
Net deferrals(1) 40,470 38,473
Other liabilities 12,466 11,708
Total liabilities $376,557 359,084
Stockholders' Equity 112,949 102,665
$489,506 $461,749
-0- (1) Includes deferred interest income of $34,989 and $34,194 at March 31, 1997 and June June: see month. 30, 1996, 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 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. , 714/751-7551 |
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