Excel reports higher revenue and earnings for the third quarter of 1995.HAUPPAUGE Hauppauge can refer to:
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 :XLTC) today announced results for the quarter ended Sept. 30, 1995. Revenues for the period were $10.9 million, an increase of 12% from $9.7 million for the same period in 1994. Pre-tax pre-tax adj → anterior al impuesto pre-tax adj → avant impôt(s) pre-tax adj → al lordo d'imposta earnings for the quarter rose to $1.15 million from $990,000 in 1994. Net earnings per share on a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis for the quarter were 9 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , up 28% from 7 cents per share for the same period in 1994. For the nine months ended Sept. 30, 1995, revenues and earnings per share on a fully diluted basis were $31.1 million and 23 cents per share, representing an increase of 23% and 27% respectively, compared to $25.2 million and 17 cents per share for the first nine months of 1994. Dr. Rama Rao RAO Retiree Activities Office RAO Right Anterior Oblique (Radiologic Term) RAO Retinal Artery Occlusion RAO Remedial Action Objective RAO Response Amplitude Operator (mechanical engineering) , 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. commented, "We are pleased with the results. Revenues and pre-tax earnings for the quarter and the nine months were the highest in the Company's history. In the third quarter our pre-tax earnings rose faster than revenues, primarily due to: (1) further improvement in operational efficiencies and (2) a second consecutive quarter of profitability for Excel's dental business. In fact, each of our operations were profitable." Dr. Rao concluded, "Our financial performance in the third quarter demonstrates that we are not reliant on a single business segment or industry. Our diversity and acquisition strategy enabled us to increase revenue and net income to record levels. Growth remains strong, with our current backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. exceeding $14.0 million at the end of September September: see month. , a 100% increase from $7.0 million on the same date last year." Excel A full-featured spreadsheet for Windows and the Macintosh from Microsoft. It can link many spreadsheets for consolidation and provides a wide variety of business graphics and charts for creating presentation materials. and its wholly-owned subsidiaries develop, manufacture and market laser systems for science, industry and medicine. -0-
Excel Technology Inc.
Financial Summary
For the Quarter For the Nine Months
Ended Sept. 30 Ended Sept. 30
1995 1994 1995 1994
Net sales $10,914,000 $9,717,000 $31,073,000 $25,191,000 Pre-tax income $ 1,158,000 $ 990,000 $ 2,936,000 $ 2,260,000 Provision for income taxes $ 371,000 $ 377,000 $ 936,000 $ 749,000 Net income $ 787,000 $ 613,000 $ 2,000,000 $ 1,511,000 Net income after tax per share Primary(a) $.09 $.07 $.23 $.17 Fully diluted $.09 $.07 $.23 $.17 Weighted average shares outstanding Primary 8,437,000 8,306,000 8,328,000 7,750,000 Fully diluted 9,045,000 9,414,000 8,842,000 8,614,000 (a) The net income for the quarters ended Sept. 30, 1995 and 1994 is reduced by approximately $41,000 and $53,000 respectively, for the calculations of primary earnings per share to allow for the anticipated preferred stock dividends and for the nine months ended Sept. 30, 1995 and 1994 by approximately $123,000 and $159,000, respectively. CONTACT: Excel Technology Inc., Hauppauge Dr. Rama Rao or Dennis Byrne, 516/273-6900 |
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