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DataMetrics Corporation Reports Fiscal Second Quarter 2002 Results.


Business Editors

Profit from Operations of $256,000 on Year-Over-Year Sales

Increase of 100%; Completes debt-to-equity Conversion

DataMetrics Corporation (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
: DMTI DMTI Digital Moving Target Indicator
DMTI Digital Mapping Technologies Inc.
DMTI Digital Multi Track Interface
) today announced its financial results for the fiscal second quarter and six months ended April 28, 2002.

For the 2002 second quarter, the Company reported sales of $1,541,000, an increase of 100 percent versus the second quarter of 2001. The increase in sales was due primarily to recognition of the second and final part of an exclusive license agreement with 3M signed by the Company in the first quarter. As a result, the Company reported a profit from operations of $256,000 for the quarter, a gain of $2,676,000 over the prior year's operating loss operating loss

The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income.
. After interest and other corporate expenses, the Company's net loss for the period was $(220,000), a year-over-year improvement of $2,478,000, or 92 percent.

For the six months ended April 28, 2002, DataMetrics reported total sales of $3,035,000 versus $1,630,000 a year earlier, an increase of $1,405,000, or 86 percent. The Company reported a profit from operations of $292,000 for the first half of fiscal 2002 versus a loss of $(3,296,000) in the comparable 2001 period, a year-over-year improvement of $3,588,000. After interest and other corporate expenses, the net loss for the six-month period amounted to $(376,000), a turnaround of $2,462,000 compared with the prior year net loss of $(2,838,000). The basic and diluted loss per common share was $(.19) for the fiscal 2002 first half on 1,992,000 weighted average shares outstanding versus $(6.49) on 437,000 weighted average shares outstanding in 2001.

DataMetrics Corporation President and Chief Executive Officer Daniel Bertram stated, "We are very pleased with the progress the Company has made during the first half of 2002. Financially, we have reported a profit from operations in both quarters of this year versus our operating losses of the prior year. We attribute this to both our substantial increase in sales as well as our continued focus on streamlining operations. In addition, during the quarter we substantially strengthened our balance sheet through the conversion of more than $6,000,000 of debt to equity."

Bertram continued, "Operationally, our bookings of new military contracts also increased during the most recent quarter, contributing to a quarter-end sales backlog level reaching $1.5 million, a 32 percent jump year over year. Complementing our growing backlog, our proposal activity has also risen significantly due to the ongoing strength in military/defense spending by the U.S. government. During the quarter, we also successfully completed the transition and integration of Peripheral Equipment Corporation (PEC Peć (pĕch), Albanian Peja, town (1991 pop. 68,163), S Serbia, in the Kosovo region. A trade center, it has industries that produce leather goods, foodstuffs, and handicrafts. ), which we acquired last December, into our Orlando facility. We are optimistic op·ti·mist  
n.
1. One who usually expects a favorable outcome.

2. A believer in philosophical optimism.



op
 about the new sales opportunities that we expect from PEC as well as those related to the emerging U.S. homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security
Department of Homeland Security

executive department - a federal department in the executive branch of the government of the United States
 initiatives now being formulated and implemented."

DataMetrics Corporation (www.datametricscorp.com) is a leader in ruggedized computers, printers, and integrated systems for government, defense, and aerospace markets. DataMetrics also designs, develops, and manufactures high-speed color, non-impact printers/plotters for specialized applications. DataMetrics Corporation was launched in 1962 and is celebrating 40 years of highly successful technology integration throughout 2002. DataMetrics Corporation is headquartered in Orlando, Florida The city of Orlando is a major city in central Florida and is the county seat of Orange County, Florida. According to the 2000 census, the city population was 185,951. A 2006 U.S. .

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 made pursuant to the safe harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. These statements involve risks and uncertainties, such as quarterly fluctuations in operating results, the timely availability of new products, the impact of competitive products and pricing, and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 for the fiscal year ended October 28, 2001. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made in this press release.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 1, 2002
Words:657
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