Alpharel announces significant improvement in first quarter results; revenue highest since 1987.SAN DIEGO--(BUSINESS WIRE)--April 25, 1995--Alpharel (NASDAQ/NMS:AREL AREL Acute Reference Exposure Level (EPA) ), a principal supplier of enterprise-wide imaging application software, Tuesday announced first quarter 1995 net income of $225,000 or 2 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. on revenue of $3,151,000. This is the highest revenue quarter since 1987 and an increase of 20 percent over first quarter 1994. For the first quarter of 1994, the company had revenues of $2,611,000 and net income of $217,000 or 2 cents per share. Steve Gardner, the company's president and chief executive officer, stated: "The company finished the quarter on several high notes. Not only was the quarterly revenue the highest since 1987, the net income of $225,000 is the highest in the past two years. In addition, the company generated $400,000 in cash and added several new prestigious accounts including Union Electric Company. "The company also began to reinvigorate re·in·vig·o·rate tr.v. re·in·vig·o·rat·ed, re·in·vig·o·rat·ing, re·in·vig·o·rates To give new life or energy to. re the alternate channels program with the addition of several new partners and an expansion of its relationship with Unisys." Gardner added: "I am very optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the future for Alpharel. The momentum from this quarter, along with the success of the company's recent participation in the imaging industry's largest trade show of the year, creates the opportunity for the company to have an excellent year." John Low, chief financial officer, noted: "The quarterly results included the installation of a large system at Continental Airlines which had a significant hardware component. The hardware component affected the revenue mix for the quarter resulting in a decrease in gross profit margin Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. to 46 percent from 50 percent for first quarter last year. "In spite of the revenue mix, the company still was able to expand its marketing and sales efforts, finish the quarter with a profit and strengthen the balance sheet as evidenced by the increase in cash and improved current ratio from the end of the year." With headquarters in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Alpharel is the primary supplier of open imaging software for enterprise-wide solutions. The company's client/server software components operate in many different environments, and support multiple communication architectures such as Ethernet and Token Ring A local area network (LAN) access method developed by IBM. Conforming to the IEEE 802.5 standard, Token Ring uses a token ring access method and connects up to 255 nodes in a star topology at 4, 16 or 100 Mbps. on a variety of platforms including Sun, HP, SGI (SGI, Sunnyvale, CA, www.sgi.com) A manufacturer of workstations and servers, founded in 1982 by Jim Clark. The company was founded as Silicon Graphics, Inc., but changed to its acronym in 1999. , DG, DEC VAX (Virtual Address eXtension) A venerable family of 32-bit computers from HP (via Digital and Compaq) introduced in 1977 with the VAX-11/780. VAX models ranged from desktop units to mainframes all running the same VMS operating system, and VAXes could emulate PDP models , 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) , Macintosh and PC. Client operating environments In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. include X Window OSF/Motif, Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. and Apple System 7. Alpharel's software products easily integrate with customers' existing applications, providing departmental or corporate-wide document management. -0-
Alpharel, Inc.
Consolidated Statement of Operations
(Unaudited)
Three Months Ended
March 31,
1995 1994
Revenues $ 3,151,000 $ 2,611,000 Cost of revenues 1,692,000 1,302,000 Gross profit 1,459,000 1,309,000 Research and development 225,000 217,000 Marketing and sales 693,000 622,000 General and administrative 322,000 267,000 Total operating expenses 1,240,000 1,106,000 Income from operations 219,000 203,000 Interest and other income 34,000 45,000 Interest and other expense (28,000) (31,000) Income before taxes 225,000 217,000 Provision for taxes --- --- Net income $ 225,000 $ 217,000 Net income per share 2 cents 2 cents Weighted avg. shares outstanding 14,065,000 14,057,000 -0-
Alpharel
Consolidated Balance Sheet
(In thousands)
ASSETS
March 31, Dec. 31,
1995 1994
(unaudited)
Current assets: Cash and cash equivalents $ 1,826 $ 1,036 Short-term investments 1,191 1,585 Short-term investments, restricted 221 219 Receivables 2,452 2,973 Inventory 526 726 Other current assets 396 373 Total current assets 6,612 6,912 Long-term assets 2,959 2,859 Total assets $ 9,571 $ 9,771 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities $ 3,688 $ 4,113 Shareholders' equity 5,883 5,658 Total liabilities and shareholders' equity $ 9,571 $ 9,771 CONTACT: Alpharel, San Diego Stephen P. Gardner, John Gardner, John (John Champlin Gardner, Jr.), 1933–82, American writer, b. Batavia, N.Y. He was a teacher, lecturer, and prolific writer of fiction, children's books, poetry, radio plays, and scholarly medieval studies. He studied at Washington Univ., St. W. Low 619/625-3000 |
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