Astro-Med Reports First Quarter Results; Directors Declare Regular Cash Dividend.WEST WARWICK West Warwick (wôr`wĭk, –`ĭk), town (1990 pop. 29,268), Kent co., central R.I., on the Pawtuxet River; set off from Warwick and inc. 1913. Textile manufacturing remains a leading industry. West Warwick includes the village of River Point. , R.I. -- 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? ) reports net income of $398,444, equal to 7 cents per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, on sales of $14,193,266 for the First Quarter ending April 30, 2005. During the corresponding period of the previous year, the Company reported net income of $1,598,270, equal to 27 cents per diluted share, on sales of $14,242,268. The prior year's net income includes the one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. non-cash benefit of $939,000 or 16 cents per diluted share which is related to the release of the valuation allowance on the net deferred tax asset that was established in fiscal year 2003. Commenting on the results, Albert Albert, German churchman Albert, 1490–1545, German churchman, cardinal of the Roman Catholic Church. A member of the house of Brandenburg, he became (1514) Archbishop of Mainz. W. Ondis, Chief Executive Officer, stated: "Although our sales in the First Quarter were flat, new bookings reached $15.0 million, an improvement over the previous quarter and the prior year. Each product group experienced increases from the prior year including QuickLabel Systems(R) with $7.3 million in new orders, Grass-Telefactor(R) with $4.4 million in new orders and Test & Measurement had $3.3 million in new orders. "The Company's First Quarter's sales volume was comparable to our sales in the prior year's First Quarter. However, QuickLabel Systems sales of $7.1 million and Grass-Telefactor sales of $4.5 million exceeded their respective sales in the prior year. Although sales of our Dash series portable recorders and ruggedized products were up 10% and 22% respectively during the quarter, total sales for the Test & Measurement group were behind last year's sales for the quarter, due to the continuing decline in the aerospace industry. Our backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. grew 28% from year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. to $4.0 million at the end of the First Quarter. "The Company's financial position remains very strong with a solid balance sheet including cash and marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has of $13.7 million. A current ratio of 4.6 to 1.0, no short or long term debt and a book value of $7.30 per share. "We are confident that with our expanded and experienced field selling organization now in place, and a broad suite of existing and new product offerings available, the Company will report continued improvement in its quarterly sales volume and profitability throughout the balance of the current fiscal year." On May 23, 2005, the Directors of Astro-Med declared the regular quarterly cash dividend of 4 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. payable on July 1, 2005 to shareholders of record on June 17, 2005. The First Quarter conference call will be held today, May 24, 2005, at 5:00 PM EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT . It will be broadcast in real time on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the through our website at www.astro-medinc.com. We invite you to log on and listen in or access the broadcast any time for up to 5 days following the event. Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems, electronic medical instrumentation instrumentation, in music: see orchestra and orchestration. instrumentation In technology, the development and use of precise measuring, analysis, and control equipment. , and test and measurement instruments employed around the world in a wide range of industrial, scientific, and medical applications.
ASTRO-MED, INC.
Consolidated Statement of Operations
In Thousands Except for Per Share Data
(Unaudited)
Three-Months Ending
April 30, May 1,
2005 2004
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Net Sales $ 14,193 $14,242
Gross Profit 5,688 5,794
40.1% 40.7%
Operating Expenses:
Selling, General & Administrative 4,219 3,901
Research & Development 953 957
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5,172 4,858
Operating Income 516 936
3.6% 6.6%
Other, Net 107 95
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Income Before Taxes 623 1,031
Income Tax Benefit (Provision) (224) 567
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Net Income $ 399 $ 1,598
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Net Income Per Share - Basic $ 0.08 $ 0.30
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Net Income Per Share - Diluted $ 0.07 $ 0.27
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Weighted Average Number of
Common Shares - Basic 5,277 5,245
Weighted Average Number of
Common Shares - Diluted 5,712 5,851
Dividends Declared Per Common
Share $ 0.04 $ 0.04
Selected Balance Sheet Data
In Thousands Except for Per Share Data
As of As of
April 30, 2005 January 31, 2005
-------------- ----------------
Cash & Marketable Securities $13,723 $13,983
Current Assets $37,540 $36,726
Total Assets $47,824 $47,039
Current Liabilities $ 8,106 $ 7,458
Shareholders' Equity $38,548 $38,408
Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , and actual results may vary from those expressed or implied herein. Factors that could affect these results include those mentioned in Astro-Med's FY2005 annual report and its annual and quarterly filings with the Securities and Exchange Commission. |
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