Astro-Med Estimates a Profit for the Fourth Quarter Before Restructuring and Other Non-Cash Charges.Business Editors/High-Tech Writers WEST WARWICK, R.I.--(BUSINESS WIRE)--Feb. 5, 2003 Astro-Med, 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 :ALOT ALOT Allotment ALOT Adaptive Large Optics Technologies ALOT Airborne Lightweight Optical Tracking ALOT Maybe you're looking for the two word phrase 'a lot' meaning many? ) announced today it expects to report sales of approximately $13.0 million for the 4th Quarter ended January 31, 2003. The Company anticipates reporting a profit for the Quarter before a restructuring charge restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. of approximately $400,000 and a one-time non-cash charge Non-Cash Charge A charge off, made by a company against earnings, that does not require an initial outlay of cash. Notes: Non-cash charges are typically against the depreciation, amortization, and depletion accounts on a company's balance sheet. to the valuation allowance for its deferred tax asset of approximately $1,200,000. The restructuring charge represents the termination costs associated with a workforce reduction of 8% implemented in January. This personnel reduction is expected to result in annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. savings of approximately $2.0 million. Astro-Med reported sales of $12.4 million and earnings of $41,000 for the corresponding 4th Quarter of the prior year. The Company's actual results for the 4th Quarter and Fiscal Year will be released on Tuesday, March 25, 2003 and management will discuss the results in detail during its conference call on that day at 11:00 AM EST EST electroshock therapy. EST abbr. electroshock therapy . The conference call will be broadcast in real time over the Internet. Access is available through the Company's Website at www.astromed.com. Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments employed around the world in a wide range of industrial, scientific and medical applications. Safe Harbor Statement This news release contains forward-looking statements, and actual results may vary from those expressed or implied herein. Factors that could affect these results include those mentioned in Astro-Med's FY2002 annual report and its annual and quarterly filings with the Securities and Exchange Commission. |
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