Aseco reports record 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)--May 17, 1995--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 reported fourth quarter fiscal 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 of $8,251,000, an increase of 35 percent over net sales of $6,128,000, reported for the comparable quarter in fiscal 1994. Net income increased to $1,050,000 vs. $606,000 for a 73 percent year over year quarterly increase. Earnings per share for the fourth quarter of fiscal 1995 were $.29 as compared to $.17 for the fourth quarter of fiscal 1994. Net sales for the year ended April 2, 1995 were $29,192,000 vs. $20,264,000 for fiscal year 1994. Annual net income in fiscal 1995 was $3,088,000 vs. $1,980,000 for fiscal 1994. Fiscal 1995 12 months earnings per share were $.85 as compared to $.55 for fiscal 1994 on average shares outstanding of 3,616,000 and 3,589,000, respectively. Commenting on the results, Carl S. Archer Jr., president and chief executive officer stated, "We are pleased to have closed another quarter and fiscal year with a record breaking performance. On balance, fiscal 1995 was a year of building momentum with the continuation continuation - continuation passing style of a strong market, the advantage of a strong product offering, the resulting expansion of our customer base and a successful international business. Independent forecasts we rely on indicate that the healthy market will continue into our fiscal 1996. I believe we are well positioned to enjoy this market opportunity." 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:
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ASECO CORP.
Year ended April 2, 1995
Statements of Income (In thousands, except share and per share data)
Three Months Ended Year Ended
April 2, April 3, April 2, April 3,
1995 1994 1995 1994
Net sales $8,251 $6,128 $29,192 $20,264 Cost of sales 4,394 3,209 15,374 10,489 Gross profit 3,857 2,919 13,818 9,775 Research and development costs 1,087 654 3,356 2,324 Selling, general and administrative 1,622 1,582 6,474 5,006 Income from operations 1,148 683 3,988 2,445 Other income (expense), net 119 49 414 250 Income before income taxes 1,267 732 4,402 2,695 Income tax expense 217 126 1,314 715 Net income $1,050 $ 606 $ 3,088 $ 1,980 Earnings per share: Weighted average common and common equivalent shares outstanding 3,655,000 3,567,000 3,616,000 3,589,000 Earnings per share $0.29 $0.17 $0.85 $0.55 -0-
Condensed Balance Sheets
($ in thousands) April 2, April 3,
1995 1994
Assets
Current assets
Cash and cash equivalents $9,301 $8,986
Accounts receivable 8,975 5,376
Inventory 7,685 6,750
Other current assets 1,020 870
Total current assets 26,981 21,982
Net property, plant & equipment 1,841 1,232
Other assets 445 578
Total assets $29,267 $23,792
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable $3,267 $2,096
Accrued expenses 2,293 1,495
Taxes payable 591 157
Current portion of long-term
obligations 14 81
Deferred gain on sale/leaseback 23 114
Total current liabilities 6,188 3,943
Deferred taxes payable 315 336
Long-term debt 53
Stockholders' equity 22,711 19,513
Total liabilities and stockholders' equity $29,267 $23,792
CONTACT: Aseco Corp., Marlboro 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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