Auto-Graphics Inc. Announces Third Quarter Earnings.Business Editors/Automotive Writers POMONA, Calif.--(BUSINESS WIRE)--Nov. 21, 2003 Auto-Graphics Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AUGR) filed its Quarterly Report on Form 10-QSB with the SEC on Nov. 14, 2003 and 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. increased more than six-fold to $95,000 for the quarter ended Sept. 30, 2003, up from $15,000 for the same period in 2002. This represents the seventh consecutive quarter that the company has delivered a positive operating income. Operating income for the nine months ended Sept. 30, 2003, more than tripled to $333,000 from $94,000 for the same period in 2002. Net income was $83,000 for the quarter, up from $31,000 for the same period in 2002, a nearly three-fold increase. Net income for the nine-month period more than tripled to $285,000, up from $85,000 in 2002. Basic and diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. income per share was $0.02 in 2003, compared to $0.01 in 2002 for the quarter and $0.05 compared to $0.02 for the nine-month period ended Sept. 30, 2003. The improvement was due primarily to a significant reduction in legal expenses. 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 decreased $185,000 or 11% for the quarter to $1,449,000 in 2003 from $1,634,000 in 2002. For the nine-month period, net sales declined $424,000 or 9% to $4,442,000 in 2003 from $4,866,000 in 2002, due primarily to continuing declines in publishing sales as expected. The company is focusing on its core library services business while serving its existing publishing customers but not actively soliciting new publishing customers. Auto-Graphics provides applications software and Web hosting services A web hosting service is a type of Internet hosting service that allows individuals and organizations to provide their own websites accessible via the World Wide Web. Web hosts are companies that provide space on a server they own for use by their clients as well as providing to clients who create, manage, publish and access information using the Internet. More than 10,000 libraries in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada use the company's systems. Visit www.auto-graphics.com for additional information. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion