Applied Cellular Technology reports seventh consecutive quarter of revenue and earnings growth increases.NIXA, Mo.--(BUSINESS WIRE)--Nov. 13, 1996--Applied Cellular Technology Inc. (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 :ACTC ACTC Apple Certified Technical Coordinator ACTC Almaden Cycle Touring Club ACTC Associated Colleges of the Twin Cities ACTC All Ceylon Tamil Congress (Sri Lanka) ACTC Association Canadienne de Télévision par Câble ) reported record net income of $205,172, or 6 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 revenues of $4,402,704 for the third quarter of 1996, vs. net income of $34,208, or 2 cents per share, on revenues of $696,335 in the comparable preceding-year reporting period. Weighted average shares outstanding increased to 3,505,122, vs. 1,947,407 on a comparable-quarter basis. Nine-month net income for the year was reported at $306,768, or 11 cents per share, on revenues of $7,602,707, vs. net income of $94,047, or 6 cents per share, on revenues of $1,128,833. Weighted average shares outstanding were reported at 2,706,254, vs. 1,632,033 in the comparable nine-month reporting period. Total shares outstanding were recorded at 4,901,866. In reviewing the results of the third quarter, company Chairman and Chief Executive Officer, Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a J. Sullivan, stated: "The company's exceptional performance continues to speak for itself. This year's third quarter represents our seventh consecutive quarterly increase in both revenue and earnings growth. Nine-month comparable figures reflect a 573 percent increase in revenues, a 226 percent increase in net income and an 83 percent increase in earnings per share. The company's acquisition of ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. Communications Inc. (which contributed only one month of income to the bottom line in the third quarter) in addition to both internal and external growth opportunities in the fourth quarter, will reflect an even greater continuation of the company's earnings momentum in the fourth quarter and for the year." Applied Cellular Technology Inc. is a diversified diversified (di·verˑ·s computer software and cellular communications service company specializing in RF wireless data and voice communication technologies. CONTACT: REOVEST Inc. Bob Oberndorf, 303/642-0073; 303/642-0754 (fax) |
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