COIN BILL VALIDATOR ANNOUNCES PRELIMINARY FIRST QUARTER RESULTS.HAUPPAUGE, N.Y.--(BUSINESS WIRE)--March 3, 1995--COIN BILL VALIDATOR, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (NASDAQ/NMS:CBVI), a public company since Feb. 6, 1995, formally a sub "S" corporation, today announced the preliminary financial results for its first quarter ended Dec. 31, 1994. 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 the three months ended Dec. 31, 1994, increased by 36% to $2,865,695, as compared to $2,108,341 in the corresponding period of the prior year. Pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma net income (assuming the company has been a "C" corporation for each of the periods) for the three months ended Dec. 31, 1994 was $396,277 compared to $320,030 for the prior year. Pro forma earnings pro forma earnings Income not necessarily calculated in accordance with generally accepted accounting principles. For example, a company might report pro forma earnings that exclude depreciation expense and nonrecurring expenses such as restructuring costs. per share for the first quarter were $0.17 as compared to $0.16 per share for the first quarter in the prior year. -0-
THREE MONTHS ENDED DECEMBER 31,
(Unaudited)
1994 1993
Net Sales $2,865,695 $2,108,341 Pro Forma Net Income $396,277 $320,030 Pro Forma Net Income Per Share $0.17 $0.16 Pro Forma Weighted Average Common Shares Outstanding 2,363,636 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 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. and other countries. Validators process and authenticate (1) To verify (guarantee) the identity of a person or company. To ensure that the individual or organization is really who it says it is. See authentication and digital certificate. (2) To verify (guarantee) that data has not been altered. 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: COIN BILL VALIDATOR, INC. Henry Kayser, 516/231-1177 or L.G. ZANGANI, INC. Leonardo Zangani, 908/788-9660 |
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