Astro-Med reports fiscal 1997 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.--(BUSINESS WIRE)--March 25, 1997--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 for the year ended January 31, 1997 amounted to $2,288,000, equal to 46 cents per common share, on sales of $44,175,000. Net income during the prior year was $1,328,000, equal to 26 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 $43,941,000. During the Fourth Quarter, the company earned $574,000, equal to 12 cents per share, on sales of $11,396,000. During the corresponding period of the prior year, the Company had net income of $179,000, equal to 4 cents per share, on sales of $11,375,000. Commenting on the results, Albert W. Ondis, Chief Executive Officer, stated: "Fiscal 1997 was a good year for Astro-Med. Sales rose by about 1%, while net income rose by 77% over last year. Domestic results were excellent, while export sales, especially in recession-ridden Europe, declined about 11%. Sales of our digital color printer A printer that prints in color using three (CMY) or four (CMYK) colors of ink, toner or dye. Four color ribbons have been used in dot matrix printers, but these are rare today. See color laser printer and printer. and our bar code printer products increased substantially. We anticipate significant growth in the new year resulting from continued expansion in digital color printer and bar code product sales, as well as expected sales of our new Albert Grass HERITAGE digital EEG EEG: see electroencephalography. , and to the normally high demand for our core product lines." On March 24, 1997, directors of Astro-Med, Inc. authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the buy-back of up to 250,000 shares of common stock and declared the regular quarterly cash dividend of $0.03 per common share, payable on April 4, 1997 to shareholders of record on March 24, 1997. Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems and electronic medical instrumentation instrumentation, in music: see orchestra and orchestration. instrumentation In technology, the development and use of precise measuring, analysis, and control equipment. employed around the world in a wide range of industrial, scientific, and medical applications. -0-
ASTRO-MED, INC.
Fourth Quarter Ended Fiscal Year Ended
January 31, January 31, January 31, January 31,
1997 1996 1997 1996
Net Sales $11,396,000 $11,375,000 $44,175,000 $43,941,000
Net Income $574,000 $179,000 $2,288,000 $1,328,000
Earnings Per Share $.12 $.04 $.46 $.26
Weighted Average Number
of Common and Common
Equivalent Shares
Outstanding 4,988,881 5,088,128 5,018,143 5,095,661
CONTACT: Albert W. Ondis Chief Executive Officer 401/828-4000 |
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