DYNAMICS CORPORATION OF AMERICA REPORTS FIRST QUARTER RESULTS.GREENWICH, Conn.--(BUSINESS WIRE)--May 5, 1995--At the Annual Meeting of Shareholders of Dynamics Corporation of America (NYSE NYSE See: New York Stock Exchange :DYA DYA DamnYouAll.net (Family Guy TV show forum) DYA Define Your Acronyms DYA Department of Youth Affairs DYA Dependent Youth Activities (for military dependents) ), held today, Andrew Lozyniak, Chairman of the Board and President, announced that in the quarter ended March 31, 1995, DCA (1) (Document Content Architecture) IBM file formats for text documents. DCA/RFT (Revisable-Form Text) is the primary format and can be edited. DCA/FFT (Final-Form Text) has been formatted for a particular output device and cannot be changed. had net income of $1,083,000, or $.28 per share, on sales of $25,119,000. This compares with income of $933,000, or $.24 per share, on sales of $22,716,000 in the first quarter of 1994. First quarter income includes $802,000 of income of CTS (1) (Clear To Send) The RS-232 signal sent from the receiving station to the transmitting station that indicates it is ready to accept data. Contrast with RTS. (2) (Common Type System) The data typing used in . Corporation as compared to CTS income of $720,000 included in the same period in 1994. This represents the company's proportionate share of CTS' first quarter earnings in accordance with the equity method of accounting. Per share income was computed on the basis of weighted average common and common equivalent shares outstanding which were 3,846,580 in the latest period and 3,885,886 in 1994. Dynamics Corporation of America is a diversified company diversified company A company engaged in varied business operations not directly related to one another. A diversified company is less likely to suffer either a collapse or a spectacular gain in earnings compared with a firm concentrating its operations in a which manufactures electronic components, mobile vans and transportable shelters for specialized electronic and medical diagnostic equipment, portable electric housewares house·wares pl.n. Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen. and commercial appliances, air distribution equipment and specialized air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. equipment. -0-
Dynamics Corporation of America
Consolidated Statements of Income
(Unaudited)
Three Months Ended March 31,
1995 1994
Net sales $25,119,000 $22,716,000 Income before items shown below $ 451,000 $ 326,000 Provision for income taxes 170,000 113,000 Income before equity accounting 281,000 213,000 Income from equity investment in CTS Corporation 802,000 720,000 Net income $ 1,083,000 $ 933,000 Net income per common share $ 0.28 $ 0.24 Weighted average common and common equivalent shares outstanding 3,846,580 3,885,886 CONTACT: Dynamics Corporation of America Mary Jo. Cisternino, 203/869-3211 |
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