DSI INDUSTRIES, INC. REPORTS FIRST QUARTER RESULTS.LUBBOCK, Texas--(BUSINESS WIRE)--April 17, 1996--DSI Industries, 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 : DSIC DSIC Departament de Sistemes Informàtics i Computació DSIC Digital Systems International Corporation DSIC Defense Standards Improvement Council DSIC Design and Systems Integration Contractor ) today announced first quarter results. For the first quarter ended Feb. 29, 1996, DSI (Dynamic Systems Initiative) An umbrella term for a suite of Microsoft products that help manage the Windows environment in large enterprises. DSI was introduced in 2003. Industries, Inc. ("DSI") reported a consolidated net loss of $20,369 as compared to a consolidated net income of $108,875 in the first quarter of 1995. Operating revenues were $4,889,818 for the first quarter of 1996 as compared to $4,681,943 in the first quarter of 1995, a 4 percent increase. The increase in revenues was due to an increase in rig utilization and the number of wells drilled while the decrease in net income was due to increased general and administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. , interest expense and depreciation and amortization costs. Net income or loss per share was $0.00 in both periods reported. DSI Industries, Inc. is a holding company with one operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , Norton Drilling Company. Norton Drilling Company, headquartered in Lubbock, Texas, provides drilling service to the oil and gas industry. -0-
DSI INDUSTRIES, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
For the quarter Ended For the quarter Ended
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February 28, 1995 February 29, 1996
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Operating Revenues $ 4,681,943 $ 4,889,818
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Operating Income 181,934 67,511
Other expenses (61,139) (87,880)
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Income Tax Expenses (11,920) --
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Net Income (Loss) $ 108,875 $ (20,369)
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Net Income (Loss) per
common share $0.00 $(0.00)
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Weighted Average Shares
Outstanding 22,761,606 23,693,365
CONTACT: Sherman H. Norton Jr., 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. , 806/785-8400 or David Ridley, CFO See Chief Financial Officer. , 806/785-8400, both of DSI Industries, Inc. |
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