ATRIX INTERNATIONAL REPORTS INCREASE IN SALES AND CORE PROFITS FOR 1996; Company Expects Profitability to Grow in 1997.MINNEAPOLIS--(BUSINESS WIRE)--Aug. 20, 1996--Increasing sales and improvements in core 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 highlighted the fiscal 1996 results of Atrix International (NASDAQ-ATXI). Sales for the year ended June 30, 1996, exclusive of royalties, were $6,021,988 compared with sales for the previous year of $5,369,815 exclusive of royalties. Royalty payments were $6,439 for the current year and $408,364 for the previous year. These payments were the result of a number of patent infringements patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. from prior years. Including royalties, sales for the year ended June 30, 1996 were $6,028,427 compared with $5,778,179 for the previous year. Excluding royalties, sales for the quarter ended June 30, 1996 increased 7% from $1,381,516 to $1,472,862. When royalties are included, sales for the current quarter were $1,472,862 compared with $1,526,321 for the same quarter last year. Net income for the year was $144,041 compared with $300,282 for the previous year. However, last year's income figure included "miscellaneous income" related to patent settlements of $169,496. Without this, net income would have increased 10% compared to last year. For the quarter ended June 30, 1996 net income was $10,626 compared with $65,556 for the same quarter last year. "Orders remain strong, with copy control products leading the way with a 150% increase," said Steve Riedel, President. "Overall, orders are up approximately 20%," he added. "The excellent acceptance of the products acquired from Porous porous /por·ous/ (por´us) penetrated by pores and open spaces. po·rous adj. 1. Full of or having pores. 2. Admitting the passage of gas or liquid through pores. Media in November of 1995 and the increase in international sales bodes well for the future of Atrix," Riedel said. Looking forward Riedel stated, "That the company expects sales to continue to grow in fiscal 1997. An experienced national sales manager sales manager n → gerente m/f de ventas sales manager n → directeur commercial sales manager sale n → was hired in June of 1996 to fuel the growth of the copy control products and to enhance the sales of the new Omega vacuum cleaner vacuum cleaner, mechanical device using a draft of air to remove dust, loose dirt, or other particulate matter from dry surfaces. It is especially useful on highly textured surfaces, such as carpets and upholstery, that are difficult to clean by wiping or brushing. that was introduced at the Business Technology show in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. in July 1996." Riedel further stated "That with increased sales, lower operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. , and improving margins profitability should be significantly enhanced in fiscal 1997." Except for historical financial statements this release contains forward looking statements subject to certain risks including changes in production cost, loss of a major customer, an economic downturn, an unplanned expense or other events. Atrix is a leading edge manufacturer of remote metering and copy control products. The Company is also a manufacturer of toner An electrically charged ink used in copy machines and laser printers. It adheres to an invisible image that has been charged with the opposite polarity onto a plate or drum or onto the paper itself. and asbestos asbestos, mineral asbestos, common name for any of a variety of silicate minerals within the amphibole and serpentine groups that are fibrous in structure and more or less resistant to acid and fire. vacuums, vacuum filters and printed circuit board transport cases for the office machine industry. In addition, Atrix distributes tools, and instrumentation instrumentation, in music: see orchestra and orchestration. instrumentation In technology, the development and use of precise measuring, analysis, and control equipment. for field service organizations throughout the world. The common stock of Atrix is traded on 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 under the symbol ATXI. -0-
Atrix International, Inc. Announces Fiscal 1996 Earnings
Atrix International, Inc.
Statement of Operations
Three Months Ended Year Ended
June 30 June 30
1996 1995 1996 1995
Net Sales 1,472,862 1,526,321 6,028,427 5,778,179 Cost of Sales 1,042,000 1,026,933 4,254,597 3,867,241 Gross Profit 430,862 499,388 1,773,830 1,910,938 Selling, general and administrative expenses 419,016 440,705 1,630,934 1,754,398 Income from operations 11,846 58,683 142,896 156,540 Other income/expense, net (1,220) (1,959) (2,227) (18,404) Misc. Income 0 11,332 1,990 169,496 Income before taxes 10,626 68,056 142,659 307,632 Income taxes 0 (2,500) 1,382 (7,350) Net Income 10,626 65,556 144,041 300,282 Net earnings per share $ .00 $ 0.01 $ 0.03 $ 0.06 Weighted average number of common stock equivalents 5,653,644 5,201,978 5,541,345 5,201,978 CONTACT: Atrix International, Inc. Steven D. Riedel, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 612/894-6154 |
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