Alpha Microsystems Reports Year-End Results; Files Registration Statement For Shares Underlying Warrants.SANTA ANA Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif.--(BUSINESS WIRE)--May 6, 1996--Alpha Microsystems (Nasdaq NM:ALMI ALMI Application Level Multicast Infrastructure ALMI Automated Listing and Mapping Instrument (US Census Bureau) ) today reported results for its fiscal year ended Feb. 25, 1996. As the company announced on March 15, 1996, the results include the negative effects of an approximate $2.0 million write-off Write-Off A reduction in the value of an asset or earnings by the amount of an expense or loss. Companies are able to write off certain expenses that are required to run the business, or have been incurred in the operation of the business and detract from retained revenues. of intangibles, primarily associated with certain vertical software products and goodwill. For the fiscal year ended Feb. 25, 1996, revenues were $32.8 million with a net loss of $3.6 million or $0.54 loss per share; results for the previous fiscal year ended Feb. 26, 1995, were revenues of $38.8 million with a net loss of $6.2 million or $0.95 loss per share. Concurrently with filing its Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended Feb. 25, 1996, the Company also submitted for filing a Registration Statement for 4,442,069 shares of common stock issuable upon the exercise of certain Warrants issued by the Company, primarily in connection with its Nov. 29, 1993, Shareholder Rights Offering and subsequent Public Offering. The Company's publicly traded Redeemable Redeemable Eligible for redemption under the terms of an indenture. Warrants are traded on the Nasdaq National Market under the symbol "ALMIW." Each traded Redeemable Warrant entitles the holder to purchase one share of common stock at an exercise price of $2.50, subject to the Registration Statement being declared effective by the Securities and Exchange Commission. The Company is entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to call the Redeemable Warrants for redemption upon at least 30 days' prior written notice at any time at a price of $0.05 per Redeemable Warrant, provided that the closing bid price of the Company's common stock has been an average of at least $3.375 for the 20 trading days In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. immediately preceding the date of the written notice. In conjunction with the Registration Statement, the Company has retained Sutro Sutro is a surname and may refer to:
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10271. The Company's Information Agent for the exercise of Warrants is South Coast Communications Group, 2010 Main Street, Suite 220, Irvine, CA 92714; telephone 800/452-1346 or 714/252-8440. Alpha Microsystems Alpha Microsystems is a computer company founded in 1977 by Dick Wilcox and Bob Hitchcock. The first Alpha Micro computer was based upon the WD16 microprocessor chip from Western Digital. is a supplier of information technology products and services concentrating on software market niches served both directly and through value-added resellers 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. and distributors. The Company also provides consulting, networking, software support and maintenance services, with approximately 46 locations in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and the United Kingdom. The Company recently introduced for beta test A test of new or revised hardware or software that is performed by users at their facilities under normal operating conditions. Beta testing follows alpha testing. Vendors of packaged software often offer their customers the opportunity of beta testing new releases or versions, and the a newly developed product, AlphaCONNECT, which is an Internet/Intranet software product for data mining, harvesting, formatting, manipulation and delivery, and for the creation of dynamically self-updating Web pages. -0-
ALPHA MICROSYSTEMS
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Year Ended
Feb 25, Feb 26,
1996 1995
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Net sales:
Product $14,466 $18,823
Service 18,297 19,962
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Total net sales 32,763 38,785
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Cost of sales:
Product 10,228 13,372
Service 12,739 14,013
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Total cost of sales 22,967 27,385
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Gross Margin 9,796 11,400
Selling, general and
administrative expense 11,855 15,553
Research and development expense 2,093 2,239
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Total operating expenses 13,948 17,792
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Income (loss) from operations (4,152) (6,392)
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Other (income) expense, net (597) (145)
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Income (loss) before taxes (3,555) (6,247)
Provision (benefit) for income taxes 20 --
------------ -----------
Net income (loss) ($3,575) ($6,247)
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Net income (loss) per share ($0.54) ($0.95)
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Number of shares used in the
computation of per share amounts 6,564,882 6,580,470
============ =========== -0-
Note to Editors: This news release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful. CONTACT: South Coast Communications Kent Broussard, 714/252-8440 (investors) Owen Daley, 714/252-8440 (media) |
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