ATEC Group reports 3rd quarter/9 months results; nine months earnings up 97% on record revenues.EAST NORTHPORT East Northport, uninc. residential town (1990 pop. 20,411), Suffolk co., SE N.Y., on the north shore of Long Island. , N.Y.--(BUSINESS WIRE)--April 30, 1997--ATEC Group (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 full-service computer system integrator, Wednesday reported results for the third quarter and nine months ended March 31, 1997. Nine month earnings increased 97 percent to $1,062,081, or four 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. , versus $538,949, or three cents per share, in the prior year's same quarter. Net revenues were up 15 1/2 percent to a record $72.4 million from $62.6 million in the fiscal 1995 period. Third quarter net income rose to $297,654 from $26,592. Net revenues for the third quarter were $20.9 million, compared to $21.1 million for the third quarter of 1996. "From an earnings standpoint, this was the best nine month period in our history," said Surinder Rametra, chief executive officer. "Pentium systems and Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. have driven sales, and we have also been the beneficiary of the growth in the services sector. We are experiencing particularly strong demand from customers in small businesses who need training, support, custom developments and integration of systems into networks. We continue to provide not just leading edge computer systems, but Internet ready solutions, the expansion of Direct PC satellite communications and video conferencing See videoconferencing. (communications) video conferencing - A discussion between two or more groups of people who are in different places but can see and hear each other using electronic communications. services as well," Rametra added. Founded in 1994, ATEC Group Inc. is a full-service authorized computer dealer and value-added reseller A value-added reseller (VAR) is a company that adds some feature(s) to an existing product(s), then resells it (usually to end-users) as an integrated product or complete "turn-key" solution. of enterprise computer networking
Computer networking is the engineering discipline concerned with communication between computer systems or devices. products. The company services small to mid-sized companies and government agencies and offers a full range of products and services specializing in enterprise-wide technology solutions. ATEC offers leading computer hardware, software, connectivity devices, multimedia products, data communication via satellite and video conferencing. -0-
ATEC GROUP INC.
Financial Highlights (Unaudited)
For the Three Months For the Nine Months
Ended Ended
3/31/97 3/31/96 3/31/97 3/31/96
Net revenues $20,939,200 $21,145,532 $72,362,075 $62,642,609
Net income $ 297,654 $ 26,592 $ 1,062,081 $ 538,949
Net income
per share $ .01 $ .00 $ .04 $ .03
Common and
common
equivalent
shares (fully
diluted) 24,418,198 17,413,922 24,418,198 17,413,922
CONTACT: Continental Capital & Equity Corp. Michael Irving, 407/875-1110 www.insidewallstreet.com or ATEC Group Surinder Rametra, 516/231-2832 |
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