Astro-Med reports fiscal 1995 results; directors declare regular cash dividend and authorize 100,000 share stock buy-back.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)--March 21, 1995--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 that net income from operations for the year ended January 31, 1995 amounted to $1,923,000, equal to 38 cents per common share, on sales of $38,233,000. Net income during the prior year was $2,981,000, equal to 58 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 $32,268,000. During the Fourth Quarter, the company earned $179,000, equal to 4 cents per common share, on sales of $11,368,000. During the corresponding period of the prior year the Company had net income of $871,000, equal to 17 cents per share, on sales of $7,871,000. Commenting on the results, Albert W. Ondis, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated: "Although sales were up some 44% for the quarter and 18% for the year, several factors combined to depress earnings during the Fourth Quarter and the year as a whole. We made major advertising and promotional expenditures to introduce and promote SUNDANCE, our exciting four-color label printer, and our other major new product, the K3 Cath Lab A catheterization laboratory or cath lab is an examination room in a hospital or clinic with diagnostic imaging equipment to support the catheterization procedure. A catheter is inserted into a large artery, and various wires and devices can be inserted through the body via System. Although we incurred these considerable expenses, we made no shipments of these products and hence realized no benefits. K3 shipments are scheduled to begin late in the First Quarter and SUNDANCE shipments will begin in the Second Quarter. Both products are receiving strong and positive market acceptance and we anticipate that they will be major contributors to the Company's performance during the new year and beyond. "Other factors affecting the year included a mix of product sales which yielded lower 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. and significantly higher R&D expenses for development work on SUNDANCE and other label printer products; additionally, operational improvements and price increases instituted at our Grass division have not yet taken hold. We believe that as the new year progresses, we will see improvements in revenues and profits." Directors of Astro-Med, Inc. declared the regular quarterly dividend of $0.03 per common share payable on April 4, 1995 to shareholders of record on March 24, 1995. The Directors also authorized the buy-back of up to 100,000 shares of the Company's stock. Astro-Med, Inc. is a leading manufacturer of high speed specialty data printers employed in the aerospace, industrial, medical, scientific, and educational fields. -0- ASTRO-MED, INC. Fourth Quarter Ended FiscaL Year Ended January 31, January 31, January 31, January 31, 1995 1994 1995 1994 Net Sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight $11,368,000 $7,871,000 $38,233,000 $32,268,000 Net Income $179,000 $871,000 $1,923,000 $2,981,000 Earnings Per Share $.04 $.17 $.38 $.58 Weighted Average Number of Common and Common Equivalent Shares Outstanding 5,110,582 5,104,604 5,099,004 5,138,710 CONTACT: Astro-Med Industrial Park 401/828-4000 or Michael London Associates 212/307-6478 |
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