ATEC Group expects to report record sales & earnings for fourth quarter/year end.EAST NORTHPORT, N.Y.--(BUSINESS WIRE)--Aug. 6, 1996--ATEC Group 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 :ATEC ATEC Army Test and Evaluation Command (US Army; formerly OPTEC, Operational Test & Evaluation Command) ATEC Australian Tourism Export Council ATEC Advanced Technologies (Hamburg, Germany) ), a leading provider of computer solutions, today announced that it expects to report record results for the fourth quarter and the fiscal year ended June 30, 1996. The company anticipates releasing operating results for the fourth quarter by the end of August. ATEC expects to report sales in excess of $80 million for its fiscal year ended June 30, 1996, compared to sales of $47 million in 1995 and operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. in excess of $1.2 million for 1996 compared to an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $0.3 million in fiscal 1995 (a). "The strong fourth quarter is the result of our successful acquisition program as well as solid growth within the company. The company will continue to improve and add new innovative technology to our existing product lines. ATEC recently entered into an agreement with Hughes Network Systems Hughes Network Systems, LLC (HNS), is a provider of broadband satellite network products for businesses and consumers. HNS pioneered the development of high-speed satellite Internet access services and IP-based networks with its original DirecPC service but which it now markets for distribution and installation of Direct PC satellite communications and video conferencing systems that enables internet access at 400 Kbps which is approximately 28 times faster than average modems, resulting in substantial cost savings for high volume data communications. This new product is an example of our commitment to be a leader in the technology marketplace," Surinder Rametra, chairman and chief executive officer, said. ATEC serves small to mid size companies, schools and various government institutions through its network of trained professionals. The company provides products from leading manufacturers such as Apple, Compaq, Hewlett-Packard, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Microsoft, Novell, Oracle, Sybase, Toshiba and others. The company's vast array of services include: system consulting, system integration, customized setup, LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. installation, telecommunications solutions, product service and maintenance. (a) Results for 1995 have been restated to include Innovative Business Micros Inc. CONTACT: ATEC Group Inc., East Northport Seema Wasil, 516/462-2832 or Porter, LeVay & Rose Inc., New York Marilynn Meek, 212/564-4700 |
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