Astro-Med Reports First Quarter Results; Directors Declare Regular Cash Dividend.Business Editors 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.--(BUSINESS WIRE)--May 21, 2002 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 a net loss of $632,000, equal to a loss of 15 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. , on sales of $11,377,000 for the First Quarter ending May 4, 2002. For the corresponding period of the previous year, the Company reported net income of $150,000 equal to 4 cents per share, on sales of $12,436,000. Commenting on the results, Albert W. Ondis, Chief Executive Officer, remarked: "The First Quarter of FY 2003 presented an interesting scenario. After a very slow start, we experienced a surge in the rate of incoming orders late in the quarter and as a result we are beginning the Second Quarter with a substantial backlog. New orders grew 8% over the Fourth Quarter, to a total of $12.7 million. The Company's backlog stood at $3.5 million at the end of the quarter. "We saw a healthy demand for the Company's new product offerings, including Test & Measurement's Dash 18(R), QuickLabel Systems' 4100 X(R) and Grass-Telefactor's AURORA PSG PSG, n polysomnograph; polygraph performed during sleep. Physiological variables such as pulse, blood pressure, and respiration are monitored and charted. (R). We were also pleased with the improvements in our working capital management program, and as a result our 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 position increased during the quarter to $5,940,000." On May 14, 2002, Directors of Astro-Med declared the regular quarterly cash dividend of 4 cents per common share, payable on July 2, 2002 to shareholders of record on June 14, 2002. The First Quarter Fiscal Year 2003 Conference Call will be held on Wednesday, May 22, 2002, at 11:00 AM 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 over the Internet. Access is achieved through visiting our website at www.astromed.com. We invite you to listen in on May 22, 2002 or access the broadcast any time for up to 30 days following the event. 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.
ASTRO-MED, INC.
First Quarter
May 4, 2002 May 5, 2001
----------- -----------
Net Sales $11,377,000 $12,436,000
Net Income (Loss) $ (632,000) $ 150,000
Income (Loss) Per Share - Basic $ (0.15) $ 0.04
and Diluted
Dividends Per Share $ 0.04 $ 0.04
Weighted Average Common Shares 4,267,400 4,241,000
Outstanding - Basic
Weighted Average Common Shares 4,267,400 4,245,000
Outstanding - Diluted
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 FY2002 annual report and its annual and quarterly filings with the Securities and Exchange Commission. |
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