Coin Bill Validator, Inc. to take second quarter charge; Early success of new product line leading to write-down of excess and obsolete inventory.HAUPPAUGE, N.Y.--(BUSINESS WIRE)--May 8, 1996--COIN BILL VALIDATOR, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (NASDAQ/NMS: CBVI), today announced that it plans to take a charge to earnings for its second quarter ending March 31, 1996. The Company said the charge, which will be approximately $1.0 million, is related to the write-down of obsolete inventory Obsolete Inventory Term that refers to inventory that is at the end of its product life cycle and has not seen any sales or usage for a set period of time usually determined by the industry. This type of inventory has to be written down and can cause large losses for a company. and certain related parts for its Generation I M-IVO bill validator product line whose sales are being effected by the Company's recently introduced Generation II IDS product line. This product shift has occurred because certain specific gaming applications require a product which meets more stringent regulatory requirements Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. , as well as enhanced performance features. In addition to the product shift, the identification of the obsolete inventory and the excess M-IVO inventory was largely facilitated by the first successful use of an inventory control system. This system being a computerized computerized adapted for analysis, storage and retrieval on a computer. computerized axial tomography see computed tomography. on-line MRP (Material Requirements Planning) An information system that determines what assemblies must be built and what materials must be procured in order to build a unit of equipment by a certain date. (Materials Requirements Plan) system. This Generation II product line is being expanded to include the IBS IBS Irritable bowel syndrome, see there (Ivo Back Stack) that replaces Generation I, M-IVO. COIN BILL VALIDATOR, INC. designs, manufactures and markets advanced paper currency validation systems used in the vending and gaming industries in the U.S. and international markets. The Company's proprietary technologies are among the most advanced in the industry. CONTACT: Coin Bill Validator Inc. Henry Kayser, (516) 231-1177 or L.G. Zangani Leonardo Zangani, (908) 788-9660 |
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