American Technical Ceramics Corp. announces fourth quarter and year end earnings.HUNTINGTON STATION Huntington Station, uninc. town (1990 pop. 28,247), Suffolk co., SE N.Y., on the north shore of Long Island. The town has a diverse manufacturing base and is located near a popular vacation and fishing area on Long Island's north shore. , N.Y.--(BUSINESS WIRE)--Aug. 31, 1995--American Technical Ceramics ceramics (sərăm`ĭks), materials made of nonmetallic minerals that have been permanently hardened by firing at a high temperature, or objects made of such materials. Corp. (AMEX AMEX See: American Stock Exchange Symbol: AMK AMK Ammattikorkeakoulu AMK Ang Mo Kio AMK Angkor Mikroheranhvatho Kampuchea (Cambodia microfinance) AMK Angkatan Muda Keadilan (Malaysia) ), today announced earnings for the fourth quarter and fiscal year ended June June: see month. 30, 1995. 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 quarter ended June 30, 1995 increased 18% to $7,847,000, compared with net sales of $6,671,000 for the comparable period in fiscal year 1994. The company recorded net income of $705,000 for the quarter ended June 30, 1995, or $.18 per common and common equivalent share, compared with net income of $346,000, or $.09 per common and common equivalent share, for the quarter ended June 30, 1994. Net sales for the fiscal year ended June 30, 1995 increased 24% to $28,630,000, compared with net sales of $23,111,000 in fiscal year 1994. Net income for the fiscal year ended June 30, 1995 was $1,880,000, or $.48 per common and common equivalent share, compared with net income of $997,000, or $.26 per common and common equivalent share in the prior fiscal year. Management of the company stated that the increase in sales for the fourth quarter and the fiscal year ended June 30, 1995 was the result of higher sales of capacitors used in commercial, or non-defense related, applications. Sales of capacitors overseas were particularly strong during the quarter ended June 30, 1995, increasing approximately 26% compared to overseas sales in the comparable quarter in the prior fiscal year. In comparison, domestic sales during the fourth quarter were 16% higher than domestic sales during the fourth quarter of the prior fiscal year. The company noted a significant increase in demand for its products generally as applications for electronic equipment, both domestic and foreign, reached unparalleled levels. Management further stated that the increases in income from operations and net income for the fourth quarter ended June 30, 1995, as compared to the comparable quarter in the prior fiscal year, are the result of significant increases in production and shipment volume levels and greater production efficiencies that reduced manufacturing costs per unit. American Technical Ceramics Corp. designs, develops, manufactures, and markets RF/Microwave/Millimeter-Wave ceramic This article is about ceramic materials. For the fine art, see Ceramic art. The word ceramic is derived from the Greek word κεραμικός (keramikos). and porcelain porcelain [Ital. porcellana], white, hard, permanent, nonporous pottery having translucence which is resonant when struck. Porcelain was first made by the Chinese to withstand the great heat generated in certain parts of their kilns. capacitors and Thin Film Products. The company's products are focused primarily in the high reliability market for UHF (Ultra High Frequency) The range of electromagnetic frequencies from 300 MHz to 3 GHz. In the U.S., analog television has used UHF channels 52 to 69 in the 700 MHz band. and microwave applications. -0- American Technical Ceramics Corp. and Subsidiaries Consolidated Statements of Earnings Three Months Ended June 30 (Unaudited) 1995 1994 Net sales $ 7,847,000 $ 6,671,000 Income from operations 1,233,000 635,000 Net Income 705,000 346,000 Net income per share $ .18 $ .09 Weighted average common and common equivalent shares outstanding 3,871,000 3,911,000 -0- Years Ended June 30, (audited) Net sales $28,630,000 $23,111,000 Income from operations 2,856,000 1,634,000 Income before cumulative effect of change in accounting for investments 1,728,000 997,000 Cumulative effect of change in accounting for investments, net of income taxes 152,000 -- Net income 1,880,000 997,000 Net income per common and common equivalent shares outstanding before cumulative effect of change in accounting for investments $ .45 $ .26 Net income per share $ .48 $ .26 Weighted average common and common equivalent shares outstanding 3,877,000 3,900,000 CONTACT: American Technical Ceramics Corp. James Condon James Condon (born 27 September 1923 in Fremantle, Western Australia) is an actor. He made many appearances on television, including The Story Of Peter Grey, Homicide, Matlock Police, Number 96 , 516/547-5754 |
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