Astec generates a profitable increase in 1994; parent company reports overall sales increase of 7.1 percent.OCEANSIDE, Calif.--(BUSINESS WIRE)--May 3, 1995--The Power Conversion group of Astec (BSR BSR Business for Social Responsibility BSR Baltic Sea Region BSR British Society for Rheumatology BSR Bootstrap Router (networking) BSR Bonsoir (French) BSR Bottom-Simulating Reflector ) Plc, which includes Astec America, reported a 36.1 percent rise in operating profits for 1994. The increase was reflected in worldwide (U.S. dollar) sales of $391.1 million, up from $348.7 million in 1993, for power conversion. Operating profit for 1994 was $27.5 million, up from $19.4 million the previous year. Hong Kong-based Astec (BSR) Plc reported that overall company-wide, pre-tax profits increased a healthy 41 percent for 1994, with total sales of $487.2 million, and earnings per share were up 40.9 percent to $0.0914 per share. The power conversion division accounts for the bulk of the company's sales. The company also includes BI Technologies, a smaller electronics division which concentrates on advanced technology and semiconductors and ENI, which manufactures RF amplifiers and plasma generators. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Astec officials, its power conversion business is now a ``competitive global player,'' making the transition from the start-up business phase to becoming a competitive industry force in the power module market. During 1994, the product range of the AMPSS AMPSS Advanced Manned Penetrating Strategic System (US Air Force) high density DC/DC modular power supplies was enlarged and significant market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" was achieved, resulting in a major portion of the power division's sales increase. The company expects the product category will continue to increase penetration of all application areas in 1995, including telecommunications and industrial markets. In related company news, Astec's manufacturing facility in the Philippines, purchased last November, is now fully operational. The facility continues Astec's low-cost Asian manufacturing strategy, which will help support the company's future growth plans. At the same time, Astec (BSR) Plc is continuing its cost-reduction program throughout its entire organization, which has resulted in a 1994 increased gross profit margin Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. to 25.5 percent from 24.6 percent in 1993, and a decline in net operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. of sales to 18.9 percent from 19.4 percent in 1993. Astec America is a subsidiary of Astec (BSR) Plc, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , the world's leading supplier of power conversion solutions. With headquarters in Oceanside, Astec America is a leading supplier worldwide of standard and modified standard power supplies. The company's product line includes AC/DC AC/DC adj. Slang Having a bisexual orientation. [From the likening of a bisexual person to an appliance that works on either alternating or direct current. switchmode and linear supplies, DC/DC converters and custom rack assemblies. CONTACT: Astec America Inc. Roberta Halliburton, 619/439-4245 or Masar-Johnston Sue Varga, 619/281-3484 |
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