Auto-Graphics, Inc. Announces Third Quarter Earnings.POMONA, Calif. -- Auto-Graphics, Inc. (Pink Sheets:AUGR), a technology innovator providing library automation solutions for over 35 years, today reported that operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. was $72,000 for the quarter ended September 30, 2006, up $12,000 or 20% from $60,000 for the same period in 2005. This performance represents 19 consecutive quarters in which Auto-Graphics has delivered a positive operating income. Auto-Graphics' 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 $1,263,000 for the quarter ended September 30, 2006, down $42,000 or 3% from $1,305,000 for the same period in 2005 due to the completion of a large publishing contract A publishing contract is a legal contract between a publisher and a writer or author (or more than one), to publish written material by the writer(s) or author(s). This may involve a single written work, or a series of works. in 2005. Recurring subscription and maintenance sales increased $18,000 for the quarter ended September 30, 2006 over the same period in 2005 due to additional AGent VERSO ver·so n. pl. ver·sos 1. A left-hand page of a book or the reverse side of a leaf, as opposed to the recto. 2. The back of a coin or medal. [TM] sales. License and services sales were down $60,000 due to the completion of a large publishing contract in 2005. Net income was $70,000 for the quarter ended September 30, 2006 up $7,000 from a net income of $63,000 for the same period in 2005. Basic and diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of was $0.01 in 2006 unchanged from $0.01 in 2005. Auto-Graphics' net sales were $3,824,000 for the nine months ended September 30, 2006, down $28,000 from $3,852,000 for the same period in 2005 due to completion of a large publishing contract in 2005. Recurring subscription and maintenance sales increased $51,000 for the quarter ended September 30, 2006 over the same period in 2005 due to additional AGent VERSO sales. Net income was $177,000 for the nine months ended September 30, 2006 up $25,000 from a net income of $152,000 for the same period in 2005, a 16% increase over the prior year. Basic and diluted earnings per share was $0.03 in 2006 unchanged from $0.03 in 2005. During the third quarter Auto-Graphics was awarded a statewide contract renewal by the state of Wisconsin. This contract is one of the largest union/virtual hybrid resource sharing system in the world, incorporating over 1,200 public, academic, school and special libraries throughout the state. The state will continue using the Auto-Graphics union catalog union catalog n. A library catalog combining in alphabetical sequence the contents of more than one catalog or library. and change from Fretwell Downing's virtual catalog and interlibrary in·ter·li·brar·y adj. Existing or occurring between or involving two or more libraries: an interlibrary loan; an interlibrary network. loan management system, recently acquired by OCLC OCLC - Online Computer Library Center , to AGent Resource Sharing[TM]. The new system is scheduled to be fully functional by January 1, 2007. The system will utilize the most advanced technology available in the field of library automation. Additionally, Auto-Graphics, through a competitive bid, was awarded a major contract for AGent Search[TM] from a well-known Wall Street mutual fund investment company. The technology will provide employees worldwide with federated searching Federated search is the simultaneous search of multiple online databases and is an emerging feature of automated, Web-based library and information retrieval systems. It is also often referred to as a portal, as opposed to simply a Web-based search engine. of commercial databases. The competitive bid process involved a major mainstream software development company and thus further solidifies AGent Search's capability to provide commercial entities with federated search technology. About Auto-Graphics, Inc. Founded in 1950, Auto-Graphics has been a technology innovator for more than five decades, providing data automation solutions to customers across multiple industries. For the past 35 years, Auto-Graphics has helped libraries of all sizes become more efficient and patron-centric. Its flagship solution, AGent, is one of the most comprehensive library automation platforms available today, allowing libraries of any size to manage, share and search their resources. The AGent integrated product suite - currently used by more than 5,000 libraries in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. - comprises a complete ILS ILS In currencies, this is the abbreviation for the Israeli Shekel. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. system for public libraries; a robust ILL solution for consortial entities and member libraries; and a powerful federated search solution for both public and academic libraries. For more information, please visit www.auto-graphics.com. [c] 2006 Auto-Graphics, Inc. All rights reserved. AGent, AGent VERSO, AGent Resource Sharing and AGent Search are trademarks of Auto-Graphics, Inc. All other trademarks are the property of their respective owners. |
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