Benthos announces fiscal 1996 sales and earnings.NORTH FALMOUTH, Mass.--(BUSINESS WIRE)--Nov. 13, 1996--Benthos, Inc. announced today record sales of $11,723,000 for the fiscal year ended September 30, 1996, a 46 percent increase as compared with sales of $8,014,000 for fiscal 1995. Net income for fiscal 1996, also a record, was $1,171,000 or $1.34 per share, an increase of 623 percent as compared with a net income of $162,000 or $0.18 per share in fiscal 1995. Fourth quarter sales for fiscal 1996 were $2,849,000, a 57 percent as compared with sales of $1,819,000 for the fourth quarter of last year. Net income for the fourth quarter was $214,000 compared with a net loss $77,000 for the fourth quarter of last year. Order backlog at the end of fiscal 1996 was $3,513,000 compared with $2,568,000 at the end of the prior fiscal year. Current order backlog is $8,020,000. Benthos benthos: see marine biology. continues to grow in both operating divisions. The Company's Undersea Systems Division is benefiting from sales growth of its RDA RDA abbr. recommended daily allowance Recommended Dietary Allowance (RDA) The Recommended Dietary Allowances (RDAs) are quantities of nutrients in the diet that are required to maintain good health in people. hydrophones which are used in offshore oil exploration, as well as increases in sales of DSC (1) (Digital Signal Controller) A microcontroller and DSP combined on the same chip. It adds the interrupt-driven capabilities normally associated with a microcontroller to a DSP, which typically functions as a continuous process. See microcontroller and DSP. 5010 Digital Still Cameras, and E-ROV remotely operated vehicles Remotely operated underwater vehicles (ROVs) is the common accepted name for tethered underwater robots in the offshore industry. ROVs are unoccupied, highly maneuverable and operated by a person aboard a vessel. , used to inspect the underwater areas of nuclear power plants. The Undersea Systems Division experienced a 25 percent sales growth in fiscal 1996 compared with the previous fiscal year. The TapTone Container Inspection Division also registered impressive sales growth as major domestic and international customers in the beer, beverage, food packaging, and pharmaceutical industries continue to realize the quality control benefits of installing the company's patented container inspection systems. In fiscal 1996, TapTone sales grew to $6,255,000 a 72 percent increase compared to sales of $3,643,000 in 1995. The company has recently applied for registration with the Securities and Exchange Commission and for a listing of its common stock on the Nasdaq Small Cap market. Further details will be released in January of 1997 in the company's annual report. The annual meeting of shareholders will be held at 10 a.m. on Friday, March 7, 1997. -0-
BENTHOS INC.
COMPARATIVE CONDENSED INCOME STATEMENT
4th Quarter Ended Fiscal Year Ended
9/30/96 9/30/95 9/30/96 9/30/95
(unaudited) (audited)
Net Sales $2,849,000 $1,819,000 $11,723,000 $8,014,000
Net Income (Loss) $214,000 $(77,000) $1,171,000 $162,000
Net Income (Loss)
Per Share $.24 $(0.09) $1.34 $0.18
Weighted Average
Common & Common
Equivalent Shares
Outstanding 890,251 890,111 871,281 890,111
-0- Benthos Inc., designs, manufactures, sells and services oceanographic and robotic equipment for inspection, exploration and research; and TapTone inspection systems for testing the seal integrity of consumer containers made of glass, metal or plastic. The company is ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certified See certification. . Benthos stock is currently traded over the counter and is listed on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol BTHS BTHS Brooklyn Technical High School BTHS Barth Syndrome BTHS Bartram Trail High School (Jacksonville, Florida) BTHS Brick Township High School (New Jersey) . -0- URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. address: http://benthos.com CONTACT: Benthos Inc. Peter Zentz, 508/563-1000 |
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