COIN BILL VALIDATOR, INC. ANNOUNCES SECOND QUARTER RESULTS.HAUPPAUGE Hauppauge can refer to:
Antonym: dec. . (NASDAQ/NMS: CBVI), a public Company since February February: see month. 6, 1995, formally a sub "S" corporation, today announced the financial results for its second quarter ended March 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 increased by 76.9%, or $1,419,705, to $3,266,220 in the three month ended March 31, 1995 from $1,846,515 in the comparative prior year period. Net sales increased by 55%, or $2,177,059, to $6,131,915 in the six months ended March 31, 1995 from $3,954,856 in the comparative prior year period. This increase is attributable to increased sales of paper currency validators and related paper currency stackers to OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers and domestic gaming customers. Operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. increased to $805,835, or 24.7% of net sales, in the thre months ended March 31, 1995 from $433,851, or 23.5% of net sales, in the comparative prior year period. Operating expenses increased to $1,455,400, or 23.7%of net sales, in the six months ended March 31, 1995 from $818,257, or 20.7% of net sales, in the comparative prior year period. This increase was due principally to costs associated with the Company's new facility, as well as increased staffing and related payroll costs to support expansion of engineering efforts and increased selling expenses to support marketing activities associated with the Company's planned growth efforts. -0-
COIN BILL VALIDATOR, INC
STATEMENTS OF INCOME
(unaudited)
THREE MONTHS ENDED SIX MONTHS ENDED
MARCH 31, MARCH 31,
1995 1994 1995 1994
NET SALES $3,266,220 $1,846,515 $6,131,915 $3,954,856 PRO FORMA NET INCOME $ 422,906 $ 268,457 $ 819,194 $ 588,487 PRO FORMA NET INCOME PER SHARE $ 0.16 $ 0.13 $ 0.33 $ 0.29 PRO FORMA WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 2,591,161 2,000,000 2,476,149 2,000,000
COIN BILL VALIDATOR, INC. designs, manufactures and markets paper
currency validators and related paper currency stackers for use in
the United States and other countries. Validators process and
authenticate paper currencies in a variety of automated machines,
including gaming machines and vending machines which dispense
products, services, coinage and other currencies. Stackers sold with
most validators store validated paper currency, usually in removable
cassettes.
CONTACT: HENRY KAYSER Kayser may refer to: People with the surname Kayser:
LEONARDO ZANGANI (908) 788-9660 |
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