Del Global Technologies Corp. Reports Record Third Quarter and Nine-month Sales and Record Backlog.VALHALLA, N.Y.--(BUSINESS WIRE)--May 11, 1998--Del Global Technologies Corp. (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 :DGTC), today reported record sales and backlog for the third quarter and nine-month periods ended May 2, 1998. The Company stated that sales for the three-month period ended May 2, 1998 rose approximately 16.8 percent to approximately $16.7 million from $14.3 million for the same period last year. Sales for the nine-month period ended May 2, 1998 rose approximately 13.5 percent to approximately $44.6 million from $39.3 million for the year earlier period. "The Company's third quarter and nine-month revenues are right on track with our fiscal 1998 business plan. Financial results for the quarter ended May 2, 1998 will be released during the first half of June 1998," Leonard A. Trugman, chairman, 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. & president, said. "During the just completed quarter the Company began marketing its Neo-Natal Mobile Unit both domestically and internationally. We are particularly proud that one of our Neo-Natal Mobile Units is being utilized by the highly regarded Beth Israel Medical Center Beth Israel Medical Center is a hospital in New York City. It has four major locations providing health services. It acts as University Hospital and Manhattan Campus for the Albert Einstein College of Medicine of Yeshiva University. in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . "We are confident that the acceleration of the outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. trend by major medical equipment companies bodes well for our growth in medical systems and subsystems. International activities also remain strong. We are pleased with our sales growth during the first nine months of fiscal 1998. Our present backlog is at a record level of approximately $34.5 million compared with $26.1 million a year ago. "The Company is actively pursuing new business opportunities for its family of medical systems as well as its proprietary precision power conversion subsystems for medical applications. Sales of the Company's family of cost-effective medical imaging systems, consisting of its new Neo-Natal system, mammography mammography, diagnostic procedure that uses low-dose X rays to detect abnormalities in the breasts. The early diagnosis of breast cancer made possible by the routine use of mammography for screening women increases a woman's treatment alternatives and improves her , stationary and portable imaging systems, are running at a rate in excess of 1,000 systems annually. "Our growth strategy continues to consist of accelerating the mix of our business toward cost-effective medical imaging and diagnostic systems in our business, expanding our international sales, aggressively investing in product development and pursuing selected acquisitions on a global basis," Mr. Trugman concluded. During March 1998 the Company's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Gendex-Del Medical Imaging Corp., acquired selected assets of X-Ray Technologies, Inc., a privately owned company based in Lincolnwood, Illinois Lincolnwood (formerly Tessville) is a village in Cook County, Illinois, United States. The population was 12,359 at the 2000 census. Geography Lincolnwood is located at (42.005331, -87.734283)GR1. . X-Ray Technologies has developed leading edge technology for the design and manufacture of cost-effective medical imaging systems for physicians, chiropractors and veterinarians Veterinarians and veterinary surgeons (vets) are medical professionals who operate exclusively on animals. Well-known and notable veterinarians include:
Del Global Technologies Corp. is primarily engaged in the design, manufacture and marketing of state-of-the-art, cost-effective medical imaging and diagnostics systems consisting of mammography systems, stationary and portable imaging systems, Neo-Natal systems and proprietary precision power conversion subsystems for medical as well as critical industrial applications. These include energy exploration, airport explosives detection, semi-conductor capital equipment and electronic noise suppression subsystems. -0- This press release contains forward looking statements. Such statement involve various risks that may cause actual results to differ materially. These risks include, but are not limited to, the ability of the Company to grow internally or by acquisition and to integrate acquired businesses, changing industry and competitive conditions, and other risks referred to in the Company's registration statements and periodic reports filed with the Securities & Exchange Commission. CONTACT: Del Global Technologies Corporation, Valhalla Leonard A. Trugman, Chairman, CEO & President 914/686-3600 or Porter, Levay & Rose, New York Rose is a town in Wayne County, New York, United States. The population was 2,442 at the 2000 census. The town was named after Robert S. Rose, an early landowner of the town. Martin Skala, VP, 212/564-4700 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion