DH Technology announces record third quarter results; Revenue increases 24 percent; Net income rises 27 percent.SAN DIEGO--(BUSINESS WIRE)--Oct. 23, 1995--DH Technology (Nasdaq:DHTK) today announced record results for the third quarter and nine months ended Sept. 30, 1995. Revenues in the third quarter rose 24% to $25,277,000, compared to $20,342,000 in the prior year period. Net income for the quarter grew 27% to $2,657,000, or $0.32 per share, compared with $2,090,000, or $0.26 per share, in the same period last year. Earnings per share results have been adjusted to reflect the three-for-two stock split completed on Oct. 2, 1995. For the nine months ended Sept. 30, 1995, revenue grew 32% to $72,850,000 from $55,272,000 for the comparable period in 1994. Net income for the nine months grew 28% to $7,519,000, or $0.91 per share, versus $5,884,000, or $0.73 per share, for the same period in 1994. "We are pleased to post our 10th consecutive quarter of revenues and earnings growth," commented William William, crown prince of Germany William or Frederick William, 1882–1951, crown prince of Germany, son of William II. In World War I he commanded (1914) an army on the Western Front and was nominal commander in the German attack H. Gibbs Gibbs , Josiah Willard 1839-1903. American mathematician and physicist who formulated the theoretical foundation of physical chemistry, developed vector analysis, and conducted optical and thermodynamic research. Noun 1. , chairman and chief executive officer of DH Technology. "Gross margins of 35% were affected by the timing of new product roll-outs and higher component and expediting costs caused by chip shortages in our transaction printer division. This decrease in gross margins was more than balanced by our reduction of operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. as a percentage of sales. Overall, pre-tax pre-tax adj → anterior al impuesto pre-tax adj → avant impôt(s) pre-tax adj → al lordo d'imposta margins improved to 16.3% in the third quarter from 15.3% in the same period last year." "Looking forward, we are pleased with the continued prospects for growth for all three of our divisions: printheads, transaction printers and bar code products," added Mr. Gibbs. "We are excited about the opportunities for our new money order printer, which was rolled out very late in the third quarter, and our new thermal transfer See thermal wax transfer printer and direct thermal printer. "Blaster blast n. 1. a. A very strong gust of wind or air. b. The effect of such a gust. 2. A forcible stream of air, gas, or steam from an opening, especially one in a blast furnace to aid combustion. " printer, which lists at $995 and will be demonstrated at ScanTech this week. Additionally, we are increasing our sales and marketing efforts in the bar code printing business and we continue to look for strategic acquisitions to accelerate our growth." DH Technology designs, manufactures and distributes transaction printers and mechanisms, impact printheads, bar code printers, and related services and supplies, such as labels and ribbons ribbons in harness horse terminology, reins. . The company's products provide printing solutions for many diverse applications, including freight and bar code labels, bank transactions, point-of-sale point of sale n. pl. points of sale A business or place where a product or service can be purchased. Also called point of purchase. point receipts and gaming tickets. The company's broad range of printing technologies include thermal, impact and laser to serve these markets and applications. -0-
DH Technology Inc. and Subsidiaries
Condensed Consolidated Statement of Income
(Unaudited)
(In thousands, except per share amounts)
Three Months Ended Nine Months Ended
Sept. 30, Sept. 30,
1995 1994 1995 1994
Net sales $25,277 $20,342 $72,850 $55,272
Cost of net sales 16,438 12,730 46,729 34,595
------- ------- ------- -------
Gross margin 8,839 7,612 26,121 20,677
Operating expenses:
Selling, general and
administrative 3,676 3,475 11,648 9,071
Research and
development 1,354 1,168 3,598 3,401
Total operating
expenses: 5,030 4,643 15,246 12,472
Income from operations 3,809 2,969 10,875 8,205
Interest income (net) 308 146 734 517
Income before
income taxes 4,117 3,115 11,609 8,722
Income taxes 1,460 1,025 4,090 2,838
Net income $ 2,657 $ 2,090 $ 7,519 $ 5,884
Net income per share $0.32 $0.26 $0.91 $0.73
Shares used in per
share calculation 8,341 8,129 8,267 8,060
Consolidated Balance Sheets
(In thousands)
Sept. 30, Dec. 31,
1995 1994
(Unaudited)
Assets
Current assets:
Cash, cash equivalents and
short-term investments held
to maturity $30,467 $23,887
Accounts receivable 13,831 12,435
Inventories 12,780 11,386
Prepaids and other current assets 1,747 1,721
------- -------
Total current assets $58,825 $49,429
Fixed assets, net 6,368 6,771
Intangible assets, net 13,470 14,549
Other assets 1,223 557
------- -------
Total assets $79,886 $71,306
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable $ 5,706 $ 4,557
Current portion of long-term debt 1,069 1,363
Accrued expenses 4,449 4,076
Income taxes payable 1,147 1,356
Deferred revenue 928 886
------- -------
Total current liabilities $13,299 $12,238
------- -------
Long-term debt 1,961 2,992
Deferred tax liability 228 228
Shareholders' equity 64,398 55,848
------- -------
Total liabilities and
shareholders' equity $79,886 $71,306
CONTACT: DH Technology Janet Janet: see Clouet, Jean. JANET - Joint Academic NETwork Shanks
The shanks and tattlers are wading bird species in a number of genera characterised by a medium length bill and long, often brightly coloured legs. , 619/451-3485 or Morgen-Walke Associates Doug DOUG Dumb Old Utility Guy Sherk Sherk is a family name that may refer to:
CHRIS California Historical Resources Information System CHRIS Computerized Human Resources Information System CHRIS Command Human Resources Intelligence System Danne or Todd Todd , Sir Alexander Robertus 1907-1997. British chemist. He won a 1957 Nobel Prize for his study of nucleic acids and nucleotide structures. Friedman Fried·man , Milton Born 1912. American economist. He won a 1976 Nobel Prize for his theories of monetary control and governmental nonintervention in the economy. Noun 1. , 415/296-7383 Jill Ruja or Cindy Cindy can mean:
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