Centennial Technologies makes announcement.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 , Mass.--(BUSINESS WIRE)--FEBRUARY 4, 1997--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. . (NYSE NYSE See: New York Stock Exchange : CTN ctn abbr. cotangent ) stated today that it was not aware of any fundamental business reason to explain the recent increase in the trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. of the Company's common stock. The average daily number of shares sold in January 1997 reached over 1.1 million, and at times daily sales exceeded 2 million. The Company believes the increase may be attributable to increased short interest following the rapid rise in the price of the Company's common stock during the fourth quarter of calendar 1996, as well as recent negative articles in the financial press. Third party reports have indicated that the short interest in the Company's common stock has increased from approximately 340,000 shares in September 1996 to approximately 2.9 million shares in January 1997. The Company's Chairman and 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. , Emanuel Pinez, noted that the Company remains on track in its efforts to create value for its investors by broadening its product offerings beyond its core PC card business and bringing to its 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 contract manufacturing services. In addition, Chairman Pinez noted that the Company continues to pursue opportunities and strategic alliances in the areas of PC card-based systems and complimentary technologies. The Company previously disclosed that its anticipated increase in revenues would be accompanied by gross margin percentages lower than historical PC card margins due to the introduction of the contract manufacturing services through its recent acquisitions. In its earnings release earlier this week, the Company disclosed that sales increased during the six months ended December 31, 1996 to approximately $51,200,000 from approximately $14,900,000 for the same period of the prior year, a 245% increase. Gross margin increased to approximately $14,600,000 for the six months ended December 31, 1996 from approximately $5,600,000 for the same period last year, and as a percentage of sales the gross margin decreased from 37.4% to 28.6%, which reflected the introduction of contract manufacturing services. Net income increased to $5,900,000 for the six month period from $1,650,000 for the same period last year, a 257% increase. CENTENNIAL TECHNOLOGIES, INC. designs, manufactures and markets an extensive line of PC card-based solutions and provides contract manufacturing services to original equipment manufacturers ("OEM"). CONTACT: CENTENNIAL TECHNOLOGIES, INC. JAMES M. MURPHY Mur·phy , William Parry 1892-1987. American physician. He shared a 1934 Nobel Prize for discovering that a diet of liver relieves anemia. , 508/670-0646 or L.G. ZANGANI, INC. LINDA DECKER, 908/788-9660 |
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