Ault Reports Strongly Higher Third Quarter Sales and Earnings; Record Fourth Quarter and Full-Year Fiscal 1996 Results Expected.MINNEAPOLIS--(BUSINESS WIRE)--March 19, 1996--Ault Incorporated today reported net income of $270,000 or $.12 per share for the third quarter of fiscal 1996 ended February February: see month. 25, a more than threefold increase from $83,000 or $.04 per share in the year-earlier period. Third quarter sales rose 24% to $8,972,000. For the first nine months of fiscal 1996, the Company reported earnings of $532,000 or $.24 per share, up 157% from $207,000 or $.10 per share a year ago. Nine-month sales increased 25% to $23,564,000. Frederick Frederick, city, United States Frederick, city (1990 pop. 40,148), seat of Frederick co., NW Md.; settled 1745, inc. 1817. The processing center of a fertile farm and dairying area, it makes beer, household items, optical and glass products, leather goods, M. Green, Ault's president and chief executive officer, said the third quarter marked the strongest three-month period in the Company's history. He added that the current backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of more than $14,000,000, also a record, virtually assures fourth quarter results at least equal to the Company's exceptional third quarter performance. As a result, Green continued, fiscal 1996 is expected to be the Company's strongest year by a considerable margin. Throughout fiscal 1996, the Company has introduced a variety of important new power supply products that have enabled it to capitalize To regard the cost of an improvement or other purchase as a capital asset for purposes of determining Income Tax liability. To calculate the net worth upon which an investment is based. To issue company stocks or bonds to finance an investment. upon the robust growth of the global telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. market. In addition, the Company has introduced products for powering new generations of high-speed modems that have significant potential in fiscal 1997. The Company said it has added significant new data communications customers during the year and is now working closely with all of the nation's leading modem manufacturers. Green said the strong momentum that the Company has generated over the past two years is expected to continue into fiscal 1997. He said the size of the current backlog and continued vitality vi·tal·i·ty n. 1. The capacity to live, grow, or develop. 2. Physical or intellectual vigor; energy. of new order activity make him believe the Company should start fiscal 1997 on a sound footing. Ault is the nation's largest independent manufacturer of external power supplies, battery chargers and transformers for the telecommunications, computer and medical markets. CONTACT: Ault, Inc. Carlos S. Montague, 612/493-1900 |
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