Baldwin reports increased sales and earnings.ROWAYTON, Conn.--(BUSINESS WIRE)--Oct. 30, 1995--Baldwin Technology Company, Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :BLD BLD Build BLD Blood BLD Blade BLD Blonde BLD Breakfast Lunch Dinner BLD Bukas-Loob Sa Diyos (Filipino: Open In Spirit To God) BLD BASIC Bload Graphics (File Name Extension) BLD Below Limit of Detection ) announced today that net income for its first quarter ended September 30, 1995 increased to $993,000 up 19% over net income of $835,000 for the comparable period of the prior year. 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 improved 11%, to $52.8 million, and earnings per share increased to $0.06 versus $0.05 in the prior fiscal year. Orders for the quarter were up 4% from a year ago, with orders increasing in both the Americas and Asia Pacific Sectors. Orders decreased in Europe as compared to the high levels of a year ago. Backlog increased to $78 million from $68 million at September 30, 1994, and does not include $7 million of backlog of the Acrotec Group, which the Company acquired on October 2, 1995. Gerald A. Nathe, 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. and President, commented on the results: "We continue to be optimistic about the future of Baldwin. While our gross profit margin Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. decreased during the quarter as a result of a decrease in sales of higher margin products in Japan, this quarter represents our seventh consecutive quarter of year-over-year earnings increases. Although operating margins in Europe continue to be depressed, I am pleased to say that our BEC sector had an operating profit during the first quarter versus a year-ago loss. This is an important step towards returning to our historic margins." "We are also pleased with our latest product offerings, including the award-winning IMPACT cleaning system. Initially announced in Europe at the DRUPA exhibition in May and the IGAS IGAS I've Got A Secret (game show) IGAS International Graphic Arts Society show in Japan in September, this product was introduced in the U.S. marketplace at the Graph Expo trade show in October. We have already taken in excess of $4 million in orders for this product," Mr. Nathe concluded. Baldwin Technology Company, Inc. (BLD) is listed on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. and is the leading international manufacturer of material handling, accessory, control and pre-press equipment for the printing industry.
Condensed Consolidated Statement of Income
(Unaudited, in thousands, except per share data)
First Quarter ended September 30,
1995 1994
Net Sales $ 52,835 $ 47,639 Cost of Goods Sold 35,688 31,280 Gross Profit 17,147 16,359 Operating Expenses 14,886 14,234 Operating Income 2,261 2,125 Interest, net 851 708 Other income, net (429) (253) Income before taxes 1,839 1,670 Net Income $ 993 $ 835 Weighted Average Shares Outstanding 17,829 17,916 Net Income Per Share $ 0.06 $ 0.05 Condensed Consolidated Balance Sheet consolidated balance sheet A balance sheet in which assets and liabilities of a parent company and its controlled subsidiaries are combined, thereby presenting balance sheet items for the parent and its subsidiaries as if they were a single firm. (In thousands, unaudited) September 30, June 30, 1995 1995 Assets Cash and Equivalents $ 13,237 $ 13,189 Receivables 53,681 63,394 Inventory 41,188 39,824 Prepaid Expenses and Other 6,889 8,496 Total Current Assets 114,995 124,903 Property, Plant & Equipment, net 11,204 7,177 Intangibles, net 66,685 66,832 Other Assets 10,272 10,858 Total Assets $203,156 $209,770 Current Liabilities Loans Payable $ 9,754 $ 9,188 Current Portion of Long-Term debt Current Portion Of Long-Term Debt A portion of the balance sheet that represents the total amount of long-term debt that must be paid within the next year. The balance sheet has a liability section, which is broken down into long-term and current debt. 453 160 Other Current Liabilities Other Current Liabilities A balance sheet entry used by companies to group together current liabilities that are not assigned to common liabilities such as debt obligations or accounts payable. 52,694 61,980 Total Current Liabilities 62,901 71,328 Long-Term Debt 33,207 29,868 Other Long-Term Liabilities Other Long-Term Liabilities A balance sheet item that includes obligations that do not currently require interest payments. Notes: This would include items such as remaining leases, future employee benefits and deferred taxes. 9,386 9,686 Total Liabilities 105,494 110,882 Shareholders' Equity 97,662 98,888 Total Liabilities and Shareholders' Equity $203,156 $209,770 CONTACT: Helen P. Oster, 203/866-3497 |
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