BTU International reports record sales and earnings for 1995.BILLERICA, Mass.--(BUSINESS WIRE)--Feb. 12, 1996--BTU International, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BTUI) today announced record sales and earnings for the year ended December 31, 1995. 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 for 1995 were $58.3 million, an increase of 35% from net sales of $43.3 million for the year ended December 31, 1994. Net income for 1995 was $5.1 million versus $2.7 million in 1994. Net income per share nearly doubled for 1995 to $0.68 per share versus $0.35 per share in 1994. Net Sales for the fourth quarter were $14.3 million, an increase of 16% from fourth quarter sales of $12.3 million in 1994. Net income per share increased in the fourth quarter to $0.15 per share versus $0.14 per share for the same period last year. BTU Btu: see British thermal unit. International is a major supplier of thermal processing systems. The Company is the market leader for solder solder (sŏd`ər), metal alloy used in the molten state as a metallic binder. The type of solder to be used is determined by the metals to be united. Soft solders are commonly composed of lead and tin and have low melting points. Hard solders (i. reflow (1) The process of heating and melting the solder that has been screen printed onto a printed circuit board in order to bond chips and other components to the board. Surface mount chips (SMT) use the reflow method. Contrast with wave soldering. See also reflowable text. furnaces used in surface mount applications for printed circuit boards. BTU manufactures furnaces used to package and seal integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. and to process multi-chip modules A Multi-Chip Module or MCM is a specialized electronic package where multiple integrated circuits (ICs), semiconductor dies or other modules are packaged in such a way as to facilitate their use as a single IC. . Its products are also used in other specialty applications, such as brazing brazing, method of joining metal parts using nonferrous filler metals with high melting points such as copper, silver, and aluminum alloys. Brazing differs from soldering (see solder) by using a higher temperature; and unlike welding, the parts are not melted. and the sintering sintering, process of forming objects from a metal powder by heating the powder at a temperature below its melting point. In the production of small metal objects it is often not practical to cast them. of ceramics ceramics (sərăm`ĭks), materials made of nonmetallic minerals that have been permanently hardened by firing at a high temperature, or objects made of such materials. , nuclear fuels and powdered metals, and the deposition Deposition Christ is taken from the cross and enshrouded. [N.T.: Matthew 27:57–60; Christian Art: Appleton, 55] See : Passion of Christ of precise thin film coatings. Condensed con·dense v. con·densed, con·dens·ing, con·dens·es v.tr. 1. To reduce the volume or compass of. 2. To make more concise; abridge or shorten. 3. Physics a. consolidated statements of operations and balance sheets for the Company are attached. -0-
BTU INTERNATIONAL, INC.
Consolidated Statements of Operations
(In thousands, except per share amounts)
Three Months Ended Twelve Months Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
1995 1994 1995 1994
Net Sales $14,250 $12,293 $58,274 $43,342 Cost of Goods Sold 8,077 6,327 32,022 23,297 Gross Margins 6,173 5,966 26,252 20,045 Selling, General and Administrative Expenses 3,784 3,597 15,583 12,697 Research, Development and Engineering 1,087 966 4,266 3,634 Income from Operations 1,302 1,403 6,403 3,714 Interest Expense, net (88) (87) (290) (421) Other Income, net 41 10 90 49 Income Before Taxes 1,255 1,326 6,203 3,342 Income Tax Provision 179 262 1,130 662 Net Income 1,076 1,064 5,073 2,680 Dividends Accrued on Preferred Stock 0 30 93 160 Net Income Applicable to Common Stockholders $1,076 $1,034 $4,980 $2,520 Net Income Per Share $0.15 $0.14 $0.68 $0.35 Average Common Shares and Equivalents 7,378,327 7,294,177 7,300,644 7,239,077 -0-
BTU INTERNATIONAL, INC.
Consolidated Balance Sheets
(In thousands)
December 31, December 31,
1995 1994
Assets Cash and Investments $6,145 $6,896 Accounts Receivable 11,508 9,692 Inventories 9,899 5,518 Other Current Assets 429 1,378 Property, Plant and Equipment, net 4,139 3,767 Investment in Joint Venture 3,476 3,476 Other Assets 238 238
$35,834 $30,965
Liabilities and Stockholders' Investment Short-Term Debt $336 $311 Other Current Liabilities 9,640 9,740 Long-Term Debt 5,715 6,050 Deferred Taxes 1,447 1,714 Preferred Stock 0 1,200 Stockholders' Investment 18,696 11,950
$35,834 $30,965
CONTACT: Tom Kealy BTU International 508-667-4111 Ext. 106 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion