EDMARK REPORTS HIGHER SALES AND EARNINGS
EDMARK REPORTS HIGHER SALES AND EARNINGS REDMOND, Wash., April 20 /PRNewswire/ -- Edmark Corp.
(NASDAQ: EDMK) today reported sales and earnings for the third quarter of fiscal 1992.
Sales for the quarter were $1,340,869, up 31 percent from the third quarter of fiscal 1991. Net earnings were $59,117, up 103 percent from earnings of $29,121 in the year-ago quarter. Earnings per share were 2 cents, the same as last year's third quarter. For the nine months of fiscal 1992, sales were $3,979,734, up 38 percent from $2,893,370 in the same period of the prior year. Net earnings were $220,951, or 10 cents per share, compared to $166,639, or 9 cents per share, in the year-ago period. Per-share earnings reflect the additional shares outstanding as a result of Edmark's private placement of 530,501 shares of common stock in August 1991. "The third quarter was a busy one for Edmark," reported Sally G. Narodick, chief executive officer. "We continued to see strong progress in our basic business lines and released our new early childhood software catalog. "Progress on our new product development continues to be very exciting. Some of our new products are in the field test and focus group evaluation phases, and we continue to lay the foundation for distributing these new early childhood products into the home market." Edmark Corp. develops and publishes software and print materials for the early childhood and special education markets. Copies of Ed073-3218. EDMARK CORP. KEY FINANCIAL ITEMS Three Months Nine Months Ended March 31: 1992 1991 1992 1991 Sales $1,340,869 $1,023,453 $3,979,734 $2,893,370 Net earnings 59,117 29,121 220,951 166,639 Net earnings per share 0.02 0.02 0.10 0.09 At March 31: 1992 1991 Current assets 2,632,045 1,532,808 Total assets 3,419,856 1,813,581 Current liabilities 460,407 654,992 Stockholders' equity 2,959,449 1,158,589 Current ratio 5.72 to 1 2.34 to 1 Debt to equity ratio -- 0.16 to 1 -0- 4/20/92 /CONTACT: Fred G. McCulloch of Edmark, 206-861-8200/ (EDMK) CO: Edmark Corp. ST: Washington IN: PUB SU: ERN
SC-LM -- SE010 -- 0296 04/20/92 18:22 EDT
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|Date:||Apr 20, 1992|
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