Clary Announces Major Earnings Turnaround.Business Editors MONROVIA, Calif.--(BUSINESS WIRE)--Feb. 23, 2000 Clary clary: see sage. Corp. (PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. :CLY) ended fiscal year 1999 with sales of $5.692 million, a 53% rise over 1998. Earnings soared $677,000, climbing to $52,000 in 1999, or $.03 per share, after a loss of $625,000, or ($.35) per share, over the same period the previous year. "We are looking to carry our momentum over from last year, into this year," stated Richard W. Henson, president of Clary. "1999 was great and 2000 should be better. We are extremely excited about the coming year. Clary began 2000 with over $1.6 million of order backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. , the highest in many years." One of the reasons for the turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. is Clary's push into the Traffic uninterruptible power systems Uninterruptible power system A system that provides protection against commercial power failure and variations in voltage and frequency. Uninterruptible power systems (UPS) have a wide variety of applications where unpredictable changes in commercial power (UPS) market. By adding a UPS to a traffic signal system, intersections will never go dark during a power outage Noun 1. power outage - equipment failure resulting when the supply of power fails; "the ice storm caused a power outage" power failure equipment failure, breakdown - a cessation of normal operation; "there was a power breakdown" . Clary has positioned itself as a dominant company in this area over the last year. "Considering there are thousands of traffic signals in the U.S. and the market is practically untapped, we expect substantial growth," stated Henson. Another reason for Clary's improvement is the increase in military IT programs such as IT-21. IT-21 is a multibillion-dollar program to upgrade the IT infrastructure of the U.S. Navy. It is heavily focused on shipboard systems Noun 1. shipboard system - a system designed to work as a coherent entity on board a naval ship anti-submarine rocket - a shipboard system to fire rockets at submarines basic point defense missile system - a shipboard missile system . Clary has recently begun to be specified into a number of projects under this program. Clary Corp., founded in 1939, has pioneered the concept of continuous uninterruptible power systems for mission-critical applications. When the power absolutely cannot go off, the entire world turns to Clary. Clary systems are found in hospitals, police and fire emergency systems, oil fields This list of oil fields includes major fields of the past and present. The list is incomplete; there are more than 40,000 oil and gas fields of all sizes in the world[1]. , rugged industrial applications, traffic signals, computer networks, military systems and numerous other applications.
Year Ended Dec. 31,
1999 1998
Sales $5,692,000 $3,704,000
Earnings $52,000 $(625,000)
Earnings Per Share $.03 $(.35)
Number of Shares Outstanding 1,807,419 1,807,419
Quarter Ended Dec. 31,
1999 1998
Net sales and other income $1,216,000 $912,000
Net (loss) $(37,000) $(247,000)
Net (loss) per common share $(.02) $(.14)
Average number of shares 1,807,419 1,807,419
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