Aseco reports record quarterly revenue and earnings.MARLBORO Marlboro or Marlborough (märl`bərō), city (1990 pop. 31,813), Middlesex co., E Mass.; settled on the site of a Native American village 1657, inc. as a city 1890. , Mass.--(BUSINESS WIRE)--Jan. 17, 1996 -- Aseco Corp. (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 : ASEC ASEC American Savings Education Council ASEC Authorized Sun Education Center (Sun Microsystems) ) today announced third quarter fiscal year 1996 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 of $10,998,000, an increase of 50 percent over net sales of $7,355,000 reported for the comparable quarter last year. Net income increased to $1,165,000, up 56 percent from $747,000 for the same period in fiscal year 1995. This resulted in third quarter earnings per share of $.31 vs. $.21 for the third quarter of last year. Net sales for the first nine months of fiscal year 1996 were $29,875,000 vs. $20,941,000 for fiscal year 1995. Net income for the first nine months was $3,144,000, up 54 percent from last year's nine month net income of $2,038,000. Earnings per share for the first nine months of fiscal 1996 were $.83 as compared to $.57 for the same period in fiscal 1995 on average shares outstanding of 3,782,000, and 3,602,000, respectively. Carl S. Archer Jr., president and chief executive officer, commented, "We continued to experience vigorous sales growth in the third quarter of fiscal 1996 which was highlighted by our all-time all-time adj. Exceeding all others up to the present time: an all-time speed skating record. all-time Adjective Informal highest quarterly shipping levels of both the S-130 and S-170 product models and the highest overall quarterly unit shipments of non-S-130 Aseco products (newer products) in our history. This coupled with our ongoing success in the international market, which yielded over 43 percent of our third quarter fiscal 1996 sales, leads us to feel very positively about current opportunities in the market for our products." Aseco designs, manufactures and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. markets surface mount device test handlers handlers persons involved in the handling of, for example, circus animals. Includes grooms, milkers, herdsmen, strappers. Used mostly in referring to persons handling animals for show or auction. used to automate To turn a set of manual steps into an operation that goes by itself. See automation. the testing of integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. , lead conditioning equipment In telecommunication, the term conditioning equipment has the following meanings:
-0- ASECO CORP. Quarter ended Dec. 31, 1995 Statements of Income (In thousands, except share and per share data)
Three Months Ended Nine Months Ended
Dec. 31, Jan. 1, Dec. 31, Jan. 1,
1995 1995 1995 1995
Net sales $10,998 $7,355 $29,875 $20,941 Cost of sales 5,433 3,826 15,047 10,980 Gross profit 5,565 3,529 14,828 9,961 Research and development cost 1,228 824 3,453 2,269 Selling, general and administrative 2,640 1,676 6,807 4,851 Income from operations 1,697 1,029 4,568 2,841 Other income (expense), net 152 121 376 295 Income before income taxes 1,849 1,150 4,944 3,136 Income tax expense 684 403 1,800 1,098 Net income $1,165 $ 747 $ 3,144 $ 2,038 Earnings per share: Weighted average common and common equivalent shares outstanding 3,801,000 3,635,000 3,782,000 3,602,000 Earnings per share $0.31 $0.21 $0.83 $0.57
Condensed Balance Sheets
($ in thousands) Dec. 31, April 2,
1995 1995
Assets
Current assets
Cash and cash equivalents $13,591 $9,301
Accounts receivable 10,432 8,975
Inventory 8,137 7,685
Other current assets 1,052 1,020
Total current assets 33,212 26,981
Net property, plant & equipment 1,925 1,841
Other assets 278 445
Total assets $35,415 $29,267
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable $3,954 $3,267
Accrued expenses 3,220 2,293
Taxes payable 1,237 591
Current portion of long-term
obligations 14 14
Deferred gain on sale/leaseback -- 23
Total current liabilities 8,425 6,188
Deferred taxes payable 315 315
Long-term debt 45 53
Stockholders' equity 26,630 22,711
Total liabilities and stockholders' equity $35,415 $29,267
CONTACT: Aseco Corp. Sebastian Sebastian, 1554–78, king of Portugal (1557–78), grandson and successor of John III. He was under the regency first of his grandmother (until 1562) and then of his uncle Henry (a cardinal and later king) until declared of age in 1568. J. Sicari, 508/481-8896 |
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