EIP Microwave Announces Third Quarter Results.MILPITAS, Calif.--(BUSINESS WIRE)--Aug. 14, 1997--EIP Microwave 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 :EIPM EIPM European Institute of Purchasing Management ) reported net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the third fiscal quarter ended June 30, 1997, of $1,013,000, a 38% decrease from the same period last year. The company recorded a net loss of $278,000, ($0.65 per share), for the third fiscal quarter 1997, as compared to a net loss of $197,000 ($0.47 per share) recorded for the same period last year. Incoming orders for the third fiscal quarter were $809,000, a 68% decrease from orders of $2,453,000 for the same period a year ago. Backlog at June 30, 1997, was $404,000, a decrease of 69% from a backlog of $1,292,000 at the end of the third fiscal quarter last year. Nine Months Results Net sales for the nine months ended June 30, 1997, were $3,560,000, a 27% decrease from sales of $4,886,000 for the same period last year. A net loss of $793,000 ($1.87 per share) was incurred for the nine months ended June 30, 1997, as compared to a net loss of $319,000 ($0.75 per share) recorded for the same period last year. Incoming orders for the nine months ended June 30, 1997, were $3,213,000, a 36% decrease from orders of $5,007,000 for the same period a year ago. -0-
EIP Microwave Inc.
(In thousands except per share data)
(unaudited)
Three Months Ended Nine Months Ended
June 30, June 30,
1997 1996 1997 1996
Net sales $1,013 $1,642 $3,560 $4,886
Net income (loss) $ (278) $ (197) $ (793) $ (319)
Income (loss) per share $(0.65) $(0.47) $(1.87) $(0.75)
Weighted average shares
of common stock 425 423 425 423
-0- EIP (1) (Enterprise Information Portal) See corporate portal. (2) (Extended Instruction Pointer) The program counter on x86 CPUs. Microwave manufactures microwave and radio frequency test and measurement instruments, which are predominantly pre·dom·i·nant adj. 1. Having greatest ascendancy, importance, influence, authority, or force. See Synonyms at dominant. 2. used in the telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , wireless and defense industries. EIP has manufacturing facilities in Milpitas. EIP's stock is quoted on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol EIPM. CONTACT: EIP Microwave Inc., Milpitas Lewis R. Foster, 408/945-1477 |
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