BRANDON ANNOUNCES RECORD RESULTS FOR FOURTH QUARTER AND FISCAL YEAR.SECAUCUS Secaucus (sēkô`kəs), town (1990 pop. 14,061), Hudson co., NE N.J., on the Hackensack River, adjoining Jersey City; inc. 1917. It is a distribution and factory-outlet center and an area of industrial development, especially in the , N.J.--(BUSINESS WIRE)--Nov. 21, 1994 -- Brandon Brandon, city, Canada Brandon, city (1991 pop. 38,567), SW Man., Canada, on the Assiniboine River. The business center of the wheat-raising area of SW Manitoba, Brandon has an extensive trade in farm products and machinery. Systems Corporation (AMEX AMEX See: American Stock Exchange :BRA) today announced record results for the fourth quarter and fiscal year ended October October: see month. 2, 1994. Revenues for the thirteen week quarter ended October 2, 1994 were $17,612,000, increasing 11.8% over $15,749,000 for the fourteen week quarter ended October 3, 1993 (20.4% on an equivalent 13 week basis). Net income for the current quarter was $1,356,000, or $.30 per share, as compared with $1,024,000, or $.23 per share, increasing 32.4% over the fourteen week quarter ended October 3, 1993 (42.6% on an equivalent 13 week basis). Revenues for the 52 week fiscal year ended October 2, 1994 were $66,961,000, increasing 18.2 % over $56,654,000 for the 53 week fiscal year ended October 3, 1993 (20.5 % on an equivalent 52 week year). Net income for the 52 week fiscal year ended October 2, 1994 was $4,934,000, or $1.10 per share, as compared with $3,037,000, or $.69 per share, increasing 62.5% over the 53 week fiscal year ended October 3, 1993 (65.6% on an equivalent 52 week basis). Ira B. Brown, Chairman and 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. of Brandon Systems Corporation, commented, "I am pleased to announce record results for the fourth quarter and for fiscal year 1994. The Company continued its branch expansion program with the opening of offices in five new markets. This fiscal year's results reflect continuing efficiencies in our operating divisions with each of our offices now cross-selling Cross-selling is the term used to describe the sale of additional products or services to a customer. Less frequently it is used to describe the sale of services to additional business units at an account or to different geographic units of a customer. all of Brandon's product lines. This integrated marketing approach facilitates the addition of new service lines, has strengthened our revenue base, and will help to drive future earnings growth. We believe substantial opportunities exist in our industry and we plan to continue our expansion both in the U.S. and abroad. Reflecting management's continued confidence, our annual dividend has been increased from $0.22 to $0.28 per share." Brandon Systems Corporation is a nationwide computer outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. service company, providing short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. supplemental and long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. contractual support for computer operations, communications operations, PC help desks, local area networks, computer programming, and advanced systems training. The Company's services are provided to Fortune 1000 clients from 26 offices strategically located throughout 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. . -0-
BRANDON SYSTEMS CORPORATION
FOURTH QUARTER FISCAL YEAR ENDING OCTOBER 2, 1994
(in thousands, except per share data)
Three Months Ended Fiscal Year Ended
10/2/94 10/3/93 10/2/94 10/3/94
(13 weeks) (14 weeks) (52 weeks) (53 weeks)
Revenues $17,612 $15,749 $66,961 $56,654
Income before taxes 2,297 1,717 8,362 5,061
Net income 1,356 1,024 4,934 3,037
Net income per share (1) $.30 $.23 $1.10 $.69
Shares outstanding (1) 4,513,345 4,392,840 4,476,416 4,389,817
(1) Per share data has been computed on the basis of the weighted average number of common andcommon equivalent shares outstanding during the periods. CONTACT: Brandon Systems Corporation
Ira B. Brown or Peter Lordi, 201/392-0800
or
Morgen-Walke Associates
Betsy Brod/Carolyn Sekac
Media Contact: Helen Spanakos
212/850-5600
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