Conceptronic announces year-end results.PORTSMOUTH, N.H.--(BUSINESS WIRE)--March 15, 1995--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, 1994. 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, 1994 were $13,479,000 compared to $13,012,000 for the year ended Dec. 31, 1993. Net sales for the three months ended Dec. 31, 1994 were $4,380,000 compared to $2,827,000 for the same period in 1993. Backlog as of Dec. 31, 1994 was $2,200,000 compared to $3,100,000 as of the same date in 1993. Net loss for the year ended Dec. 31, 1994 was $528,000 compared to a loss of $1,026,000 in the same period in 1993. For the three months ended Dec. 31, 1994 net income was $218,000 compared to a loss of $1,082,000 for the same period in 1993. Said Conceptronic 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. , Garry Prime, "1994 has been an important transition year for us. We have focused on improving operating efficiency. Due to the dedicated efforts of our employees and our suppliers this process is beginning to bear fruit. For example, during the fourth quarter of 1994 we achieved two major corporate milestones: One was record sales in any one month and the other was record sales in any three-month period. Through reduced cost-of-operation, improved first-pass product quality and increased production capacity we have begun to generate profit. Furthermore, I am encouraged with our operating performance considering that out of our $528,000 loss was $327,000 in legal fees associated with a patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. suit." Conceptronic is a leading worldwide supplier of automated forced convection reflow ovens, component rework re·work tr.v. re·worked, re·work·ing, re·works 1. To work over again; revise. 2. To subject to a repeated or new process. n. systems and environmentally-friendly cleaning systems for the electronics manufacturing This article presents a typical manufacturing process of an electronic assembly. Component manufacturing Components such as resistors, capacitors and integrated circuits are generally made by specialized contractors. industry.
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Three Months Ended Twelve Months Ended
December 31 December 31
(unaudited) (audited)
1994 1993 1994 1993
Net Sales $4,380,000 $2,827,000 $13,479,000 $13,012,000 Net Income (loss) $ 218,000 $(1,082,000) $ (528,000) $(1,026,000) Income (loss) Per Share .13 (.66) (.31) (.62) Weighted Avg. Shares Outstanding 1,700,000 1,647,667 1,700,000 1,647,667 CONTACT: Conceptronic, Inc. William D. Gray, 603/431-6262 |
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