Centennial Technologies, Inc. reports results for fiscal 1996.BILLERICA Billerica (bĭlrĭ`kə), town (1990 pop. 37,609), Middlesex co., NE Mass., on the Concord River; settled 1637, inc. 1655. An important high-tech center, its manufactures include computer hardware and software, precision instruments, and , MASSACHUSETTS--(BUSINESS WIRE)--August 21, 1996-- Sales Increased 204% Over Prior Year And E.P.S Rose 371% Over Prior Year CENTENNIAL TECHNOLOGIES, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (AMEX AMEX See: American Stock Exchange : CTN ctn abbr. cotangent ) announced today its results for the fiscal year ended June June: see month. 30, 1996. Fourth Quarter: Sales of approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $12,427,000 for the quarter ended June 30, 1996 increased 201% as compared to the sales for the same period in fiscal 1995. Gross margin, as a percent of sales, decreased to 37.6% for the fourth quarter of fiscal 1996 as compared to 43.2% for the same period of the previous fiscal year. Income from operations of approximately $3,048,000 for the fourth quarter of fiscal 1996 increased 917% as compared to income from operations for the same period of the previous year. Income from operations for the fourth quarter of fiscal 1996 was 24.5% of sales as compared to 7.3% of sales for the same period in the prior year. Net income for the quarter ended June 30, 1996 was approximately $1,868,000 as compared to $158,000 for the same period of the previous year. Net income for the fourth quarter of fiscal 1996 was 15.0% of sales as compared to 3.8% of sales for the same period in fiscal 1995. Earnings per share was $.22 for the fourth quarter of fiscal 1996, an increase of $.20 per share as compared to $.02 per share for the fourth quarter of fiscal 1995. The weighted average shares outstanding increased approximately 35.5% to 8,597,935 shares during the three months ended June 30, 1996 from 6,347,597 shares during the same period of the previous year. Earnings per share was $.22 on a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis for the fourth quarter of fiscal 1996, an increase of $.20 per share as compared to $.02 per share for the fourth quarter of fiscal 1995. The weighted average shares outstanding increased approximately 32.4% to 8,644,487 shares during the three months ended June 30, 1996 from 6,527,126 shares during the same period of the previous year. Fiscal 1996: Sales of approximately $37,848,000 for fiscal 1996 increased 204% as compared to the sales for fiscal 1995. Gross margin, as a percent of sales, decreased to 37.5% for fiscal 1996 as compared to 45.1% for the previous fiscal year. Income from operations of approximately $8,187,000 for fiscal 1996 increased 448% as compared to the income from operations for the the previous year. Income from operations for fiscal 1996 was 21.6% of sales as compared to 12.0% of sales for the prior year. Net income of approximately $4,902,000 for fiscal 1996 increased approximately 461% as compared to the net income for the same period of the previous year. Net income for fiscal 1996 was 13.0% of sales as compared to 7.0% of sales fiscal 1995. Earnings per share of $.67 for fiscal 1996 increased 319% from $.16 per share for fiscal 1995. The weighted average shares outstanding increased approximately 33% to 7,338,906 shares during fiscal 1996 from 5,511,606 shares during the previous year. Earnings per share of $.66, on a fully diluted basis, for fiscal 1996 increased 371% from $.14 per share for fiscal 1995. The weighted average shares outstanding increased approximately 18.2% to 7,432,502 shares during fiscal 1996 from 6,287,202 shares during the previous year. James James, person in the Bible James, in the Gospel of St. Luke, kinsman of St. Jude. The original does not specify the relationship. James, rivers, United States James. M. Murphy, Chief Financial Officer of CENTENNIAL TECHNOLOGIES, INC., commented: "We are pleased to report the operating results of fiscal 1996. The increases in net income and earnings per share are reflective Refers to light hitting an opaque surface such as a printed page or mirror and bouncing back. See reflective media and reflective LCD. of our significant growth in sales." -0-
CENTENNIAL TECHNOLOGIES, INC.
FINANCIAL HIGHLIGHTS
For the three and twelve months ended June 30, 1996 and 1995
Three Months Ended Twelve Months Ended
June 30, June 30,
1996 1995 1996 1995
Sales $ 12,427,232 $ 4,133,387 $ 37,847,681 $ 12,445,015
Gross Margin 4,677,767 1,786,200 14,211,382 5,612,088
Income from
Operations 3,048,220 299,684 8,187,204 1,493,682
Net Income 1,868,222 157,811 4,902,136 873,716
========== ========= ========== ==========
Earnings per Share
Primary $.22 $.02 $.67 $.16
==== ==== ==== ====
Fully Diluted $.22 $.02 $.66 $.14
==== ==== ==== ====
Weighted Average Shares
Outstanding
Primary 8,597,935 6,347,597 7,338,906 5,511,606
Fully Diluted 8,644,487 6,527,126 7,432,502 6,287,202
-0- CENTENNIAL TECHNOLOGIES, INC. designs, manufactures and sells an extensive line of PCMCIA cards See PC Card. used in industrial applications, as well as provides contract manufacturing services from its facilities in Massachusetts Massachusetts (măsəch `sĭts), most populous of the New England states of the NE United States. and Thailand Thailand (tī`lănd, –lənd), Thai Prathet Thai [land of the free], officially Kingdom of Thailand, constitutional monarchy (2005 est. pop. 65,444,000), 198,455 sq mi (514,000 sq km), Southeast Asia. .
CONTACT: JAMES M. MURPHY, (508) 670-0646 or LINDA DECKER, (908) 788-9660 |
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