Astro-Med reports record first quarter sales.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 20, 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 of $578,000, equal to 12 cents per common share, on record sales of $11,707,000, for the First Quarter which ended May 3, 1997. During the corresponding period of the prior year, the Company had net income of $443,000, equal to 9 cents per common share, on sales of $10,490,000. 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: "Our all-time high in sales reflects a growing demand for all our products. 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 were 12% ahead of the corresponding Quarter last year, while net income rose 31%. "Domestic sales were strong in all product categories, while export sales declined slightly. Sales of our label printer products grew substantially, led by our digital color printer, the Color QuickLabel-4. Meanwhile, our core products enjoyed moderate growth. "We achieved a significant objective during the Quarter with the first sale of our new Albert Grass Heritage digital EEG EEG: see electroencephalography. system. Shortly, we expect to receive FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. clearance for our newly developed digital polysomnograph, a key product for the rapidly growing sleep study and treatment market. We believe that the addition of these two new major digital products to the Grass line of neurophysiological neu·ro·phys·i·ol·o·gy n. The branch of physiology that deals with the functions of the nervous system. neu instruments will help Grass reclaim the market leadership it once enjoyed, our objective since we acquired the Company in 1994." "In addition, two important new data recorders to be introduced shortly will contribute to revenues and profits later in the year." Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems and electronic medical instrumentation employed around the world in a wide range of industrial, scientific, and medical applications. -0-
ASTRO-MED, INC.
First Quarter Ended
May 3, May 4,
1997 1996
Net Sales $11,707,000 $10,490,000
Net Income $578,000 $443,000
Earnings Per Share $.12 $.09
Weighted Average Common and Common
Equivalent Shares Outstanding 4,964,505 5,038,008
CONTACT: Astro-Med, Inc. Albert W. Ondis Chief Executive Officer (401) 828-4000 |
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