Aastra Technologies Inc. Announces its Financial Results.TORONTO--(BUSINESS WIRE)--March 24, 1997--(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. . ) Aastra Technologies Aastra Technologies Limited (TSX: AAH) headquartered in Concord, Ontario, Canada, makes products and systems for accessing communication networks including the Internet. Inc. today announced its financial results for the three months and year ended December December: see month. 31, 1996. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the three months ended December 31, 1996 increased by 240 percent to $3,142,400, compared to $1,304,600 for the comparable period in 1995. Sales for the fiscal year ended December 31, 1996 were $6,664,600 compared to $4,178,300 in 1995, an increase of 60 percent in year over year sales. The sales increase experienced in the fourth quarter is primarily due to a 450 percent increase in sales of telecommunication telecommunication Communication between parties at a distance from one another. Modern telecommunication systems—capable of transmitting telephone, fax, data, radio, or television signals—can transmit large volumes of information over long distances. products, from $665,000 in 1995 to $2,995,000 in 1996. The fourth quarter increase in telecom sales includes the effect of the August 1, 1996 acquisition of certain products from SNET Diversified Group SNET Diversified Group, Inc. is one of the companies owned by AT&T[1] that provides AT&T Yahoo!-branded Internet services to customers located within Connecticut. It does business as AT&T Internet Services. References 1. , Inc., as well as the impact of the seasonal holiday period. The balance of the Company's revenues for the above period were earned from engineering contracts. As a result of record sales, the Company returned to profitability in the fourth quarter. Net income was $37,000 in the fourth quarter of 1996 compared to $131,800 for the same period last year. For the year ended December 31, 1996, the Company had a net loss of $193,400 compared with a net income of $218,900 in 1995. The Company is also pleased to announce that its shareholders have approved a special resolution authorizing a six for one consolidation of the Company's shares. Aastra will now seek regulatory approval from the Alberta Stock Exchange for this share consolidation. Finally, Aastra would like to announce that Mr. Alain Lambert Lambert may refer to
Aastra Technologies Inc. designs, develops, and markets telecommunication products that support a wide range of services offered by communications companies Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. including Call Display, Call Waiting, Distinctive Ringing and the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the .
AASTRA TECHNOLOGIES INC.
1996 FOURTH QUARTER AND YEAR END HIGHLIGHTS
(Canadian dollars)
(Canadian dollars)
YEAR ENDED DECEMBER 31, 1996 1995
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Net sales $ 6,664,639 $ 4,178,307
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Net (loss) income for the period $ (193,505) $ 218,890
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Net income per share for
the period $ - $ 0.01
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Actual Shares Outstanding on
December 31, 1996 46,785,666
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FOURTH QUARTER ENDED DECEMBER 31, 1996 1995
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Net sales $ 3,142,439 $ 1,304,606
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Net income for the period $ 36,885 $ 131,822
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Net income per share for the
period $ - $ 0.01
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CONTACT: Aastra Technologies Inc. Allan J. Brett, 416/736-7070, ext.360 |
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