Printer Friendly

HICKOK ELECTRICAL REPORTS RECORD QUARTERLY SALES AND EARNINGS

 HICKOK ELECTRICAL REPORTS RECORD QUARTERLY SALES AND EARNINGS
 CLEVELAND, Dec. 18 /PRNewswire/ -- The Hickok Electrical Instrument Company (NASDAQ: HICKA) today reported record quarterly sales and earnings for the fiscal fourth quarter ended Sept. 30.
 Current year fourth quarter net income amounted to $421,591, or 69 cents per share, up from $401,087, or 66 cents per share, a year earlier. Fourth quarter sales were $4,333,411 compared to $3,480,030 for the three months ended Sept. 30, 1990.
 The Cleveland-based producer of automotive diagnostic instruments and training programs and high technology indicating instruments also reported $6,451,000 in order backlog as of Sept. 30, most of which is scheduled for shipment in the fiscal year ending Sept. 30, 1992. Order backlog at Sept. 30, 1990 was $5,644,000.
 The company emphasized that backlog, sales and earnings figures normally vary substantially from quarter to quarter because of the timing of customer shipment release dates.
 For the 12 months ended Sept. 30, net income amounted to $577,635, or 95 cents per share, compared to $812,040, or $1.33 per share, a year earlier. Fiscal 1991 sales were $11,705,787 versus $10,531,222 in fiscal 1990.
 The company said that fiscal 1991 earnings were affected by anticipated increased development and engineering expenses, much of which were associated with a new generation of automotive diagnostic test equipment which makes up a substantial portion of year-end order backlog.
 Hickok reported that its financial position was excellent with current assets of $6,623,317, 2.7 times both current and total liabilities. The company had no long-term debt at year-end. Working capital amounted to $4,197,882. Stockholders' equity was $5,365,979, or $8.80 per share.
 Hickok specializes in the development, manfacture and marketing of engine monitoring instruments as used in aircraft and in automotive electronics, service instrumentation and training programs. Its Hickok-Dearborn unit, based in Dearborn, Mich., formulates electronic systems diagnostic strategies.
 THE HICKOK ELECTRICAL INSTRUMENT COMPANY
 Consolidated Income Statement
 3 MONTHS
 Period ended Sept. 30 1991 1990
 Net sales $4,333,411 $3,480,030
 Income before taxes 651,391 547,487
 Income taxes 229,800 146,400
 Net income 421,591 401,087
 Earnings per share .69 .66
 Weighted average shares
 outstanding 609,712 609,712
 12 MONTHS
 Period ended Sept. 30 1991 1990
 Net sales $11,705,787 $10,531,222
 Income before taxes 907,135 1,244,040
 Income taxes 329,500 432,000
 Net income 577,635 812,040
 Earnings per share .95 1.33
 Weighted average shares
 outstanding 609,712 609,712
 -0- 12/18/81
 /CONTACT: Robert L. Purcell of The Hickok Electrical Instrument Company, 216-541-8060/ CO: The Hickok Electrical Instrument Company ST: Ohio IN: CPR SU: ERN


LC -- CL008 -- 3320 12/18/91 10:20 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 18, 1991
Words:470
Previous Article:SUFFOLK COUNTY, N.Y. $225 MILLION TANs 1992 TO BE RATED 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:STONE & WEBSTER ANNOUNCES DIVIDEND
Topics:


Related Articles
HICKOK ELECTRICAL REPORTS $6.7 MILLION BACKLOG
HICKOK ELECTRICAL REPORTS RECORD SALES, EARNINGS
HICKOK ELECTRICAL HAS FIRST QUARTER SALES, EARNINGS GAINS
HICKOK ELECTRICAL REPORTS 3RD QUARTER, 9-MONTH EARNINGS RECORDS
HICKOK ELECTRICAL REPORTS RECORD $2.54 PER SHARE
HICKOK REPORTS STRONG EARNINGS INCREASE
HICKOK HAS RECORD EARNINGS
HICKOK ELECTRICAL REPORTS RECORD FISCAL YEAR SALES AND EARNINGS
HICKOK ELECTRICAL REPORTS FIRST QUARTER SALES AND EARNINGS
HICKOK REPORTS RECORD FIRST QUARTER SALES AND EARNINGS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters