Conceptronic announces fourth quarter and year-end results.PORTSMOUTH, N.H.--(BUSINESS WIRE)--March 18, 1997-- Conceptronic Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CNCP CNCP Canadian Nursery Certification Program CNCP Canadian National/Canadian Pacific (telecommunications company) CNCP Canada Prenatal Nutrition Program CNCP Commonwealth National Competition Policy (Australia) ) announced results for the year ended Dec. 31, 1996 and the consolidated pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma 1996 results giving effect to the acquisition of White Mountain Cable Corp. 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 year ended Dec. 31, 1996 were $15,653,000 compared to $15,028,000 for the year ended Dec. 31, 1995, an increase of 4 percent. Net sales for the three months ended Dec. 31, 1996 were $4,020,000 compared to $4,138,000 for the same period in 1995. Net income for the year ended Dec. 31, 1996 was $88,000 (4 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. ) compared to $412,000 (24 cents per share) in the same period in 1995. For the three months ended Dec. 31, 1996 net income was $214,000 (7 cents per share) compared to $204,000 (12 cents per share) for the same period in 1995. In the first quarter of 1997, Conceptronic acquired White Mountain Cable Construction Corp. of Epsom, N.H. White Mountain is engaged in the construction, reconstruction, maintenance, repair and expansion of communications systems, cable television and data systems, including providing aerial construction and splicing splicing /splic·ing/ (spli´sing) 1. the attachment of individual DNA molecules to each other, as in the production of chimeric genes. 2. RNA s. of both fiber optic and coaxial co·ax·i·al adj. Having or mounted on a common axis. coaxial Adjective 1. Electronics (of a cable) transmitting by means of two concentric conductors separated by an insulator cable to major telecommunications customers. 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. , Rainer Bosselmann stated, "The acquisition of White Mountain Cable will allow Conceptronic to diversify its business thereby limiting the risks associated with the SMT (1) (Surface Mount Technology) See surface mount. (2) (Station ManagemenT) An FDDI network management protocol that provides direct management. Only one node requires the software. SMT - Station Management circuit assembly industry. Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the company with the Securities and Exchange Commission. Conceptronic Inc. is a leading worldwide manufacturer of highly advanced, computer-controlled capital equipment used in the electronic, SMT circuit circuit assembly industry. Conceptronic's equipment is preferred by most of the world's largest automotive, telecommunications, aerospace, computer and contract assembly manufacturers.
White Mountain Cable, a wholly owned subsidiary, is engaged in
the construction, reconstruction, maintenance, repair and expansion
of communications systems, cable television and data systems,
including providing aerial construction and splicing of both fiber
optic and coaxial cable to major telecommunications customers.
Conceptronic Inc.
Selected Summary Financial Data
(audited)
Three Months Ended Twelve Months Ended
December 31 December 31
1996 1995 1996 1995
Net Sales $ 4,020,000 $ 4,138,000 $ 15,653,000 $ 15,028,000
Net Income $ 214,000 $ 204,000 $ 88,000 $ 412,000
Earnings
Per Share $ .07 $ .12 $ .04 $ .24
Weighted Average
Shares
Outstanding 3,118,831 1,729,921 2,082,266 1,729,921
The following table present pro forma data as if the company had
acquired White Mountain Cable Construction Corp. as of Jan. 1, 1996.
Earnings per share do not give effect to the full year impact of
4,000,000 shares issued in November 1996. The pro forma data is not
necessarily indicative of what the results would have been if the
acquisition had occurred in Jan. 1, 1996.
Pro Forma Consolidated
for Year Ended
December 31, 1996
(unaudited)
Net Sales $ 30,662,000
Net Income $ 933,000
Earnings Per Share $ .26
Weighted Average
Shares Outstanding 3,653,592
CONTACT: Conceptronic, Inc. William D. Gray, 603/431-6262 |
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