Circuit Research Labs reports third quarter and nine month results.TEMPE, Ariz.--(BUSINESS WIRE)--November 16, 1995--Circuit Research Labs, Inc. (The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. :CRLI CRLI Communist Revolutionary League of India CRLI Certificate Revocation List Identifier ) today announced unaudited results for the third quarter and nine months ended September September: see month. 30, 1995.
Statement of Unaudited Operations
Three Months Ended Nine Months Ended
September 30, September 30,
1995 1994 1995 1994
Net Sales $488,576 $555,560 $1,448,626 $1,452,051 Net Income (Loss) $(85,713) $ 30,006 $(130,491) $(129,083) Income (Loss) Per Share $(.14) $.05 $(.22) $(.22) Weighted Average Number of Shares Outstanding 597,682 597,682 597,682 597,682 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 third quarter ended September 30, 1995 decreased 12% compared to the same period in 1994, due primarily to lower international demand for the Company's radio products. This decrease was partially offset by an increase in domestic sales of CRL's television products. Management noted that net income for the 1994 third quarter and nine month periods included $26,114 from one-time engineering fees and the sale of securities held by the Company. Commenting on the results, Ronald R. Jones, Chairman, President and Chief Executive Officer of Circuit Research Labs, stated, "While gross margins for the nine months increased slightly, a 21% increase in third quarter operating costs operating costs npl → gastos mpl operacionales related to the development and initial marketing of our new DP100 digital processor and RDS/RBDS units accounted for the loss for the three month period. We are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that production of these new products will begin late in the fourth quarter." Circuit Research Labs entered the fourth quarter with $1,239,017 in working capital and a current ratio of 6 to 1. Circuit Research Labs, Inc. manufactures and markets high quality electronic audio processing, transmission encoding See encode. and noise reduction equipment for the worldwide radio, television and professional audio markets. CONTACT: Circuit Research Labs, Inc. Ronald R. Jones, 602/438-0888 or The Equity Group Inc. Terry Hosmer, 212/836-9610 |
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