Astro-Med Reports Strong Second Quarter on Record Sales; Directors Declare Regular Cash Dividend.Business Editors/High-Tech Writers WEST WARWICK, R.I.--(BUSINESS WIRE)--Aug. 20, 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? ) reports sales of $14,023,000 and net income of $810,000, or 18 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. for the Second Quarter ending August 2, 2003. During the corresponding period of the previous year, the Company reported sales of $12,970,000 and net income of $156,000, or 4 cents per share. Commenting on the results, Albert W. Ondis, Chief Executive Officer stated, "We are quite pleased with the Company's financial results for the Second Quarter. This is the first time in the history of the Company that sales exceeded $14 million during a quarter. With new orders reaching more than $14,500,000 in the Second Quarter, it is clear that demand for our products is solid. "We saw increases in our domestic and export markets which grew 9% and 26% respectively, excluding the impact of foreign exchange. Astro-Med's suite of new products, including QuickLabel Systems' QLS-4100 Xe and QLS-8100 Xe color printers, Grass-Telefactor's Comet(R) EEG EEG: see electroencephalography. and PSG PSG, n polysomnograph; polygraph performed during sleep. Physiological variables such as pulse, blood pressure, and respiration are monitored and charted. (Sleep) Systems, and Test & Measurement's ToughWriter(R) printer and Dash 8X recorder, all showed increased demand in the quarter. "Gross profit margins 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. improved in the Second Quarter to 41.5%, versus the prior year's level of 37.4%, and the First Quarter's margin of 38.2%. The improved profit margins enabled the Company to achieve an operating profit margin Operating profit margin The ratio of operating profit to net sales. of 7% in the Second Quarter. Our Balance Sheet remains solid and we increased 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 balance to $8,300,000 at the end of the Quarter from $7,300,000 at year's end." On August 19, 2003 the Directors of Astro-Med declared the regular quarterly cash dividend of 4 cents per share payable on October 2, 2003 to shareholders of record on September 13, 2003. The Second Quarter conference call will be held on Wednesday, August 20, 2003 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 via our website at www.astromed.com . We invite you to log on and listen in on August 20th or access the broadcast anytime for up to 5 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.
Second Quarter Six-Months Ended
Aug. 2, 2003 Aug. 3, 2002 Aug. 2, 2003 Aug. 3, 2002
------------ ------------ ------------ ------------
Net Sales $14,023,000 $12,970,000 $27,237,000 $24,412,000
Net Income (Loss) $810,000 $156,000 $1,316,000 ($477,000)
Net Income (Loss)
Per Share -
Basic $0.19 $0.04 $0.31 ($0.11)
Net Income (Loss)
Per Share -
Diluted $0.18 $0.04 $0.30 ($0.11)
Dividends Per Share $0.04 $0.04 $.08 $0.08
Weighted Average
Common Shares
Outstanding -
Basic 4,216,000 4,268,000 4,235,000 4,268,000
Weighted Average
Common Shares
Outstanding -
Diluted 4,574,000 4,297,000 4,415,000 4,268,000
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, and actual results may vary from those expressed or implied herein. Factors that could affect these results include those mentioned in Astro-Med's FY2003 annual report and its annual and quarterly filings with the Securities and Exchange Commission. |
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