Apertus Technologies Announces Record Year End Results and Fifth Consecutive Quarter of Solid Financial Growth.EDEN PRAIRIE Eden Prairie A city of eastern Minnesota, a residential suburb of Minneapolis. Population: 57,300. , Minn.--(BUSINESS WIRE)--May 9, 1995--Apertus Technologies Incorporated (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 : APTS APTS Alexandra Palace Television Society (UK) APTS Advanced Public Transportation System APTS Austin Presbyterian Theological Seminary (Texas) APTS Association of America's Public Television Stations ) today announced record financial results for its fourth quarter and year ended April 2, 1995. For the fourth quarter, revenues increased 28% to $13,996,000 from $10,949,000 for the same quarter of the previous year. Net income for the fourth quarter rose 106% to $2,757,000, or $0.19 per share, from $1,340,000, or $0.10 per share, for the same quarter last year. For the year ended April 2, 1995, revenues more than doubled, growing to $54,626,000 from $26,206,000 in fiscal year 1994. Net income (loss) for fiscal year 1995 was $9,839,000, or $0.69 per share, as compared to a loss of $(9,016,000), or $(0.70) per share, the previous year. The Company also reported a significant strengthening in its balance sheet, with cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. increasing to $20,300,000 from $9,200,000 in the previous fiscal year. "Fiscal year 1995 has truly been a year of great progress for Apertus. I am pleased with the strong growth in our domestic customer base, where we have established new relationships with industry leaders such as Hughes Aircraft Hughes Aircraft Company was a major aerospace and defense company founded by Howard Hughes. The group was based near Ballona Creek, in Culver City, California, USA, on the Pacific Coast. Hughes Aircraft was acquired by General Motors in 1985. , Chrysler Chrys·ler , Walter Percy 1875-1940. American automobile manufacturer who founded the Chrysler Corporation (1925). , and Wal-Mart  Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. ," said Robert Robert, Henry Martyn 1837-1923.American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. D. Gordon Gordon, river in W Tasmania, Australia, 125 mi (200 km) long. Flowing from mountains to the W coast, its main tributaries are the Franklin and Denison from the N, and Serpentine and Olga to the S. , Chairman and Chief Executive Officer. "We have also made great strides in expanding our international business, where we have been winning significant new customers in Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). , the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. and
South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. ."
Mr. Gordon continued, "Our products are recognized as leaders in the network and data integration marketplace, as illustrated by our Datastar/Universal Access and Enterprise/Access products being named "Best of Show" finalists at Networld+Interop, the leading computer networking
Computer networking is the engineering discipline concerned with communication between computer systems or devices. trade show." Apertus Technologies Incorporated develops and markets enterprise-strength solutions for integrating traditional, large- scale systems with networked computing computing - computer environments. It offers network and data integration products, and middleware Software that functions as a conversion or translation layer. It is also a consolidator and integrator. Custom-programmed middleware solutions have been developed for decades to enable one application to communicate with another that either runs on a different platform or comes from a applications. Headquartered in Eden Prairie, Minnesota The creator of this article, or someone who has substantially contributed to it, may have a conflict of interest regarding its subject matter. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. , Apertus has sales and service offices throughout 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 Europe. Apertus is a registered trademark of Apertus Technologies Incorporated. Other names, products and services mentioned are the trademarks or registered trademarks of their respective vendors or organizations. -0-
STATEMENTS OF OPERATIONS
(Dollars in Thousands, Except Per Share Amounts)
Three Months Ended Twelve Months Ended
April 2 April 3 April 2 April 3
1995 1994 1995 1994
Revenues Sales................... $11,091 $ 9,278 $45,713 $20,719 Rentals and services.... 2,905 1,671 8,913 5,487 Total..................... 13,996 10,949 54,626 26,206
Costs and Expenses
Cost of revenues........ 2,569 2,950 12,794 7,424
Cost of rentals and
services............. 968 871 3,474 3,729
Research, development
and engineering....... 2,986 2,258 10,674 5,986
Selling, general and
administrative........ 4,924 3,631 18,407 9,801
Restructuring and other
charges............... - - - 9,029
Total..................... 11,447 9,710 45,349 35,969 Income (Loss) from Operations.............. 2,549 1,239 9,277 (9,763) Interest Income........... 283 101 712 747 Income Tax................ (75) - (150) -
Net Income (Loss)......... $ 2,757 $ 1,340 $ 9,839 $(9,016)
======= ======== ======= ========
Income (loss) per common
and common equivalent
share................... $ .19 $ .10 $ .69 $ (.70)
======= ======= ======= =======
Weighted Average Number
of Common and Common
Equivalent Shares 14,741,000 13,543,000 14,266,000 12,884,000
========== ========== ========== ==========
CONSOLIDATED BALANCE SHEETS
(Dollars in Thousands)
ASSETS
April 2 April 3
1995 1994
Current Assets
Cash and cash equivalents................ $ 13,140 $ 2,040
Cash in escrow - current portion......... 106 106
Marketable securities at cost which
approximates market................... 6,310 6,213
Accounts receivable-net.................. 14,067 12,159
Current portion of installment
receivables............................ 150 881
Inventories.............................. 3,126 3,092
Other.................................... 453 529
Total current assets................... 37,352 25,020
Property and Equipment-Net................. 3,709 3,023 Capitalized Software - Net................. 3,917 4,894 Cash in escrow - net of current portion.... 757 849 Note Receivable............................ 8,700 8,700 Installment Receivables - net of current portion.................................. 49 196 Other Assets............................... 842 881
Total.................................. $ 55,326 $ 43,563
======== ========
CONSOLIDATED BALANCE SHEETS
(Dollars in Thousands)
LIABILITIES AND SHAREHOLDERS' EQUITY
April 2 April 3
1995 1994
Current Liabilities Accounts payable......................... $ 2,932 $ 3,300 Accrued expenses......................... 6,437 4,086 Deferred income.......................... 3,863 1,216 Current portion of long-term debt........ 151 138
Total current liabilities.............. 13,383 8,740
Long-term Debt............................. 8,976 9,142 Notes Payable.............................. - 3,740
Shareholders' Equity
Common stock--authorized, 30,000,000
shares at $.05 par value; issued and
outstanding at
April 02, 1995 - 13,526,800 Shares
April 03, 1994 - 12,941,875 Shares..... 676 647
Additional paid-in-capital............... 53,231 52,047
Accumulated deficit...................... (20,747) (30,586)
Deferred compensation.................... (193) (167)
Total shareholders' equity............. 32,967 21,941
Total.................................. $ 55,326 $ 43,563
======== ========
CONTACT: Apertus Technologies Inc. Investor Relations Investor relations The process by which the corporation communicates with its investors. - Andy Serell: (212) 560-7837 Press Relations - Lynn Lynn, city (1990 pop. 81,245), Essex co., E Mass.; inc. as a town 1631, as a city 1850. Lynn is an old industrial center. The first ironworks (1643) and the first fire engine (1654) in the country were built there. Tusa: (212) 560-7823 Elesia Birnbaum: (212) 560-7821 |
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