Checkmate Reports Fourth Quarter Results and Record 1995 Net Revenues.ROSWELL Roswell (rŏz`wĕl), city (1990 pop. 44,654), seat of Chaves co., SE N.Mex., near the Pecos River; settled 1869 as a trading post, inc. 1903. It is the trade, marketing, and rail center of an irrigated farm area. , Ga.--(BUSINESS WIRE)--Feb. 8, 1996--Checkmate Electronics Inc. (NASDAQ/NMS Symbol:CMEL CMEL Center for Management and Executive Leadership (FAA) CMEL Comprehensive Monitoring Evaluation Log CMEL Centre for Medicine Ethics and Law CMEL Classical Motional Electric Law CMEL Compliance Monitoring and Enforcement Logs ) today reported its results for the fourth quarter ended Dec. 31, 1995. Net revenues were $7,034,000, up 25.6 percent from the $5,599,000 reported in the fourth quarter of 1994. Net revenues for the year ended Dec. 31, 1995 were $29,160,000, up 69.7 percent from the $17,186,000 reported in 1994. These results represent record net revenues for the year. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the quarter was $695,000, up 14.3 percent from $608,000 in 1994. Net income was $483,000, up 8.1 percent from $447,000 in 1994. Net income for the year was $2,542,000 in 1995, up 74.3 percent from $1,458,000 in 1994. Net income per share for the quarter was $0.09, equal to the $0.09 achieved in 1994. Net income per share for the year was $0.47, up 62.1 percent from $0.29 in 1994. "Sales of our check readers continued to be strong in the fourth quarter of 1995. Additionally we achieved our highest net revenue quarter for our ATM/debit terminal (CM 2001). Together, these factors resulted in our fifth consecutive quarter with net revenue growth greater than 25 percent over the previous year quarter," said Jerry Jer·ry n. pl. Jer·ries Chiefly British Slang A German, especially a German soldier. [Alteration of German. P. Malec, Checkmate's president and chief executive officer. "We were particularly pleased to secure major orders from Federated Connected and treated as one. See federated database and federated directories. Systems Group, Uptons For the United Kingdom department store also known as Uptons, see . Uptons was a department store based in Atlanta and Norcross, Georgia, United States. History Please help [ improve this article] by expanding this section , Walgreens Walgreen Co. (NYSE: WAG), d/b/a Walgreens (without an apostrophe), is a pharmacy chain, mail service pharmacy, pharmacy benefit manager, and specialty pharmacy which has operations throughout the continental United States and Puerto Rico. , Winn Dixie and Best Buy. Additionally, we gained momentum in International and reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. channels with major orders from IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Spain, Concord Concord, cities, United States Concord (kŏng`kərd, kŏn`kôrd'). 1 city (1990 pop. 111,348), Contra Costa co., W central Calif.; settled c.1852, inc. 1906. EFS EFS Encrypted File System (Microsoft Windows 2000) EFS Event Free Survival (survival rates in clinical trials) EFS Evangeliska Fosterlandsstiftelsen (Sweden) and Springer springer a North American term commonly used to describe heifers close to term with their first calf. International. Taken together this quarter saw significant growth from each major new product and channel that has been introduced over the past four quarters." "In terms of support provider channel development for supermarkets and drug retail, both NTN NTN Narrative Television Network NTN National Trends Network NTN National Tenant Network NTN National Trivia Network NTN Network Terminal Number NTN National Tax Number (Pakistan) NTN Network to Network interface and IBM announced a support program for our 2001 ATM/debit terminal product as part of their respective application program offerings. These significant new support partner relationships position Checkmate checkmate end of game in chess: folk-etymology of Shah-mat, ‘the Shah is dead.’ [Br. Folklore: Espy, 217] See : End to be a major player in grocery and drug retail in over 80 percent of the rapidly growing market opportunity," indicated Mr. Malec. "Over the coming months we expect these significant market areas to blossom for each of our major product offerings." Checkmate Electronics Inc. develops, manufactures and markets point-of-sale payment automation systems and terminals, including check readers, payment authorization The right or permission to use a system resource; the process of granting access. See access control. systems, signature capture devices and MICR (Magnetic Ink Character Recognition) The machine recognition of numeric data printed with magnetically charged ink. It is used on bank checks and deposit slips. MICR readers detect the characters and convert them into digital data. analyzers to distributors, retailers, and financial service institutions. Headquartered in Roswell, Checkmate Electronics Inc. has 170 employees. -0-
CHECKMATE ELECTRONICS, INC.
CONDENSED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
Three Months Ended Year Ended
Dec. 31 Dec. 31
1994 1995 1994 1995
(Unaudited)
Net revenues $ 5,599 $ 7,034 $17,186 $29,160 Costs of goods sold 3,354 4,050 9,734 17,184 Gross profit 2,245 2,984 7,452 11,976
Operating expenses:
Selling, general
and administrative 1,384 1,983 4,758 7,310
Research and
development 160 161 503 499
Depreciation and
amortization 93 145 324 496
----- ------ ------ ------
1,637 2,289 5,585 8,305
Operating income (loss) 608 695 1,867 3,671
Other income (expense), net 111 84 483 429
Income before income taxes 719 779 2,350 4,100
Income taxes 272 296 892 1,558
------ ------ ------ ------
Net income $ 447 $ 483 $1,458 $2,542
Net income per share 0.09 0.09 0.29 0.47
Weighted average number
of shares outstanding 5,019 5,623 5,031 5,420
CONDENSED BALANCE SHEETS
(Dollars in thousands)
Dec. 31, Dec. 31,
1994 1995
ASSETS
Current assets:
Cash and cash equivalents $746,428 $878,065
Marketable securities 9,811,649 6,853,696
Accounts receivable, net 4,525,095 7,327,687
Inventories 5,694,246 7,488,203
Deferred tax asset 208,000 424,000
Prepaid expenses 216,873 188,885
---------- ----------
Total current assets 21,202,291 23,160,536
Property and equipment, net 2,061,167 3,275,486
Other assets 1,652,137 2,121,291
---------- ----------
Total assets $24,915,595 $28,557,313
LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,621,605 $ 1,278,411 Accrued liabilities 608,254 1,037,866 Derferred revenue 308,604 572,236 Current portion of long-term obligations 197,234 168,660 Total current liabilities 2,735,697 3,057,173
Long-term obligations, less
current portion 523,893 362,847
Deferred income taxes 485,000 1,072,000
Shareholders' equity 21,171,005 24,065,293
----------- ----------
Total liabilities and shareholders' equity 24,915,595 28,557,313
CONTACT: Checkmate Electronics, Inc. John J. Neubert, 770/594-6000 |
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