AMTECH CORPORATION REPORTS THIRD-QUARTER RESULTS.DALLAS--(BUSINESS WIRE)--Oct. 30, 1995--Amtech Corporation (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 : AMTC AMTC Applied Media Technologies Corporation AMTC Aerospace Manufacturing Technology Centre (Canada) AMTC American Modeling and Talent Convention AMTC Army Missile Test Center (White Sands Missile Range, NM) ) today reported operating results for the third-quarter and nine-month periods ended September September: see month. 30, 1995. These results include for the first time the results of Cardkey Cardkey is the name of the company that started an Industry and were based in Simi Valley, California. They were the first company to develop and widely distribute "Electronic Access Control Systems". Once a division of Greer Hydraulics, Inc. Systems, a previously-announced acquisition completed by the Company on August 1, 1995. Revenues for the third quarter were $ 24,526,000, an increase of 101% compared to revenues of $12,213,000 in the third quarter of 1994. Excluding a one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. charge to earnings of $799,000, or $0.05 per share, for purchased in-process research and development related to the Cardkey Systems acquisition, the Company had quarterly net income of $377,000, or $0.03 per share, which compares to third-quarter 1994 net income of $503,000, or $0.03 per share. Including the one-time purchased in-process research and development charge, the Company reported a third-quarter 1995 net loss of $422,000, or $0.03 per share. For the nine-month period ended September 30, 1995, revenues totaled $51,462,000, up 4% from the $49,685,000 reported during the same period of 1994. The net loss for the nine-month period in 1995 (including the one-time charge) was $1,959,000, or $0.13 per share, which compared to net income of $7,586,000 or $0.51 per share in 1994. The Company currently expects consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: revenues for calendar year 1995 to be between $73 and $80 million with a consolidated net loss for the full year of between $0.23 and $0.36 per share including the one-time charge. The operating companies operating company A business that engages in transactions with outsiders. of Amtech Corporation design, manufacture, support and service a variety of hardware and software solutions based on their combined state-of-the-art radio frequency technologies and expertise in the wireless data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. field. Amtech's Transportation Systems Group (TSG TSG The Smoking Gun (web site) TSG Technology Services Group (UK) TSG Technical Specification Group TSG Timing Signal Generator TSG Technical Support Group TSG Tumor Suppressor Gene TSG ThermoSalinoGraph , comprised of Amtech Systems Corporation), Electronic Security Group (ESG ESG Enterprise Strategy Group (Veritas) ESG Emergency Shelter Grant (Florida, USA) ESG Expeditionary Strike Group ESG Electronic Service Guide (used in DVB) , which includes Cotag International and Cardkey Systems), and Interactive Data Group (IDG IDG International Data Group IDG Integrated Drive Generator IDG Installation Design Guide IDG Internet Discussion Group IDG Inset Dielectric Guide IDG International Dangerous Goods (mail, shipping) , formed by WaveLink Technologies, Inc.) market their products and services to commercial, industrial, and government users, primarily for intelligent transportation systems and intermodal in·ter·mod·al adj. Relating to transportation by more than one means of conveyance, as by truck and rail: intermodal transport. , rail, air and motor freight The price or compensation paid for the transportation of goods by a carrier. Freight is also applied to the goods transported by such carriers. The liability of a carrier for freight damaged, lost, or destroyed during shipment is determined by contract, statute, or , electronic access control, security, medical, warehousing, logistics logistics In military science, all the activities of armed-force units in support of combat units, including transport, supply, communications, and medical aid. The term, first used by Henri Jomini, Alfred Thayer Mahan, and others, was adopted by the U.S. and other business applications. -0-
AMTECH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (a)
(In thousands, except per share data)
(Unaudited)
Three Months Ended Nine Months Ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
------------------- -------------------
1995 1994 1995 1994
-------- -------- -------- --------
Sales $ 24,526 $ 12,213 $ 51,462 $ 49,685
Operating costs and expenses:
Cost of sales 15,775 7,046 33,582 23,731
Research and
development (b) 2,798 1,591 6,323 4,666
Marketing, general and
administrative 6,629 3,408 14,312 10,803
-------- -------- -------- --------
25,202 12,045 54,217 39,200
-------- -------- -------- --------
Operating income (loss) (676) 168 (2,755) 10,485 Investment income 276 535 628 1,367
Interest expense (66) - (66) -
-------- -------- -------- --------
Income (loss) before
income taxes (466) 703 (2,193) 11,852
Provision (benefit) for
income taxes (44) 200 (234) 4,266
-------- -------- -------- --------
Net income (loss) $ (422) $ 503 $ (1,959) $ 7,586
======== ======== ======== ========
Earnings (loss) per share $ (0.03) $ 0.03 $ (0.13) $ 0.51
======== ======== ======== ========
Shares used in computing
earnings (loss) per share 14,666 14, 734 14,648 14, 793
======== ======== ======== ========
(a) Includes results of Cardkey Systems from and after Aug. 1, 1995.
(b) Includes $882,000 in the three months and nine months ended
Sept. 30, 1995 for purchased in-process research and development
related to the Cardkey Systems acquisition.
AMTECH CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
Sept. 30, Sept. 30,
1995 1994
-------- --------
ASSETS
Cash and marketable securities $ 26,891 $ 31,944
Accounts receivable, net 26,997 6,380
Inventories and other current assets 12,253 10,318
Deferred income taxes-current portion 1,246 1,094
Property and equipment, net 12,782 8,904
Long-term marketable securities - 18,822
Intangible assets, net 9,067 -
Other assets 3,955 4,969
-------- --------
$ 93,191 $ 82,431
======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities $ 15,248 $ 4,823
Note payable 2,637 -
Deferred license revenues - 2,050
Stockholders' equity 75,306 75,558
-------- --------
$ 93,191 $ 82,431
======== ========
WORKING CAPITAL $ 52,139 $ 44,913
======== ========
CONTACT: Amtech Corp., Dallas Dallas, city (1990 pop. 1,006,877), seat of Dallas co., N Tex., on the Trinity River near the junction of its three forks; inc. 1871. The second largest Texas city, after Houston, and the eighth largest U.S. Beverly Beverly, city (1990 pop. 38,195), Essex co., NE Mass., on Massachusetts Bay; inc. as a city 1894. Its chief manufactures are electronic and scientific equipment, consumer goods, and chemicals. V. Fuortes, 214/733-6059 |
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