Auto-Graphics Reports Turnaround in 1999 Earnings.Business Editors POMONA Pomona, city, United States Pomona (pəmō`nə), city (1990 pop. 131,723), Los Angeles co., S Calif. at the foot of the San Gabriel Mts.; inc. 1888. , Calif.--(BUSINESS WIRE)--April 24, 2000 Auto-Graphics Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AUGR) reported 1999 net income of $105,188 ($.03 per share) on revenues of $8.4 million representing a turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. from losses of $1.06 million on revenues of $9.1 million in 1998. Reported 1999 net income includes a $47,000 tax benefit. The company increased capital through the sale of stock in 1999, more than doubling total stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. at Dec. 31, 1999, to $4.1 million (up from $1.6 million at the end of 1998). Shares outstanding increased from 3,193,434 to 4,784,934 at Dec. 31, 1999, following a 3-for-1 stock split at the end of February 2000. The company's cash position at year-end increased from $300,000 at the end of 1998 to $3.8 million at the end of 1999. (In February 2000, the company sold an additional 225,000 shares for gross proceeds of $930,000, increasing net of repurchased total shares issued and outstanding at March 31, 2000, to 4,822,734). All the per share amounts referred to herein have been adjusted to reflect such stock split. The company's plan is to invest heavily in its several new Internet See Web 2.0 and Internet2. ventures in an effort to generate substantial future growth. In addition to further investment in the company's computer and communications infrastructure, supporting its Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the outsourced Web "hosting" business, the company will invest approximately $2.5 million during 2000 to develop and promote its new Dataquad Inc. and LibraryCard Inc. subsidiaries. LibraryCard(TM) is a Web "portal" site (www.LibraryCard.com) offering library and related information and products to consumers. Dataquad(TM) sells a proprietary SGML/XML based software system which provides customers with the ability to convert, create, organize, manage and distribute/publish information on an enterprisewide basis for internal and external use via Internet connectivity and incorporating e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. capabilities with vendors, suppliers and others. Although the company's Internet/Web "hosting" business is expected to be profitable again in 2000, planned investment in Dataquad(TM) and LibraryCard(TM) are expected to result in an overall loss for 2000 in the range of $750,000-$1 million. The company's 1999 10-K Report is available through the company's Web site at www.auto-graphics.com at "Investor." |
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