Printer Friendly

DAEDALUS ANNOUNCES YEAR-END RESULTS

 ANN ARBOR, Mich., Oct. 14 /PRNewswire/ -- Daedalus Enterprises, Inc. (NASDAQ: DDEI) announced today earnings of $454,000, $.78 per share, on revenue of $6,305,000 for the year ended July 31, 1993, up from earnings of $428,000, $.70 per share, on revenue of $6,001,000 for the preceding year. The increase in net earnings is primarily attributable to the increase in revenue in fiscal 1993 as compared to fiscal 1992 revenue.
 Backlog as of Aug. 31, 1993, was approximately $1,725,000 as compared to $5,600,000 one year earlier, the majority of which is expected to be filled in fiscal 1994. Several potential new contracts are in various stages of negotiation. Fiscal 1994 revenue and results will be primarily determined by the timing and amount of new contracts currently under negotiation.
 Daedalus Enterprises, Inc. is a leading developer and manufacturer of remote sensing instruments used for environmental measurements and monitoring. The company's stock is traded in the over-the-counter market under the symbol "DDEI."
 -0- 10/14/93
 /CONTACT: Vincent J. Killewald or Thomas R. Ory of Daedalus Enterprises, 313-769-5649/
 (DDEI)


CO: Daedalus Enterprises, Inc. ST: Michigan IN: ENV SU: ERN

JG -- DE020 -- 2185 10/14/93 11:34 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 14, 1993
Words:204
Previous Article:FORD DECLARES FOURTH-QUARTER DIVIDENDS
Next Article:RIVERWOOD INTERNATIONAL NAMES GEORGE VARGA TO NEW EVP/CFO POSITION
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters