Printer Friendly

HYTEK ANNOUNCES IMPROVEMENT IN FISCAL 1992 RESULTS DESPITE FOURTH QUARTER LOSS

 CARSON CITY, Nev., Jan. 26 /PRNewswire/ -- Hytek Microsystems Inc. (NASDAQ: HTEK) reported unaudited fourth quarter and fiscal year 1992 financial results as follows:
 HYTEK MICROSYSTEMS INC.
 Statement of Operations Data
 (In thousands, except per share data)
 Fourth Quarter Fiscal Year Fiscal Year
 Ended Ended Ended
 Dec. 26, 1992 Dec. 26, 1992 Dec. 28, 1991
 Net revenues $609 $3,426 $3,597
 Net income (loss) (42) 143 110
 Net income (loss)
 per share 751
 Lower revenues for the quarter ended Dec. 26, 1992 were the result of reduced customer delivery requirements during the period. Backlog at Dec. 26, 1992 was $3,151,000.
 HYTEK MICROSYSTEMS INC.
 Balance Sheet Data (in thousands)
 Dec. 26, 1992 Dec. 28, 1991
 ASSETS
 Current assets $1,359 $1,149
 Net plant and equipment 177 255
 Other assets 29 41
 Total assets $1,565 $1,445
 LIABILITIES AND EQUITY
 Current liabilities $ 479 $ 502
 Shareholders equity 1,086 943
 Total liabilities
 and equity $1,565 $1,445
 The company incurred net losses of $5,369,000 and $2,536,000 during 1989 and 1990, respectively. During 1990, Hytek reduced its overall size through a partial liquidation and consolidated its operations in its Carson City facility.
 Founded in 1974, Hytek specializes in hybrid microelectronic circuits and multi-chip modules which are used in military, computer, communications and other OEM applications.
 -0- 1/26/93
 /CONTACT: James M. Phalan, president and chief executive officer, or Charles S. Byrne, chief financial officer, of Hytek Microsystems, 702-883-0820/
 (HTEK)


CO: Hytek Communications Inc. ST: Nevada IN: CPR SU: ERN

TM-TB -- SF002 -- 6347 01/26/93 11:34 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 26, 1993
Words:264
Previous Article:USX CORPORATION ANNOUNCES DECLARATION OF FOURTH QUARTER DIVIDENDS
Next Article:ASPEN INSTITUTE URGES CLINTON ADMINISTRATION AND CONGRESS TO FACE UP TO HARD ECONOMIC POLICY CHOICES
Topics:


Related Articles
RICHARDSON ELECTRONICS REPORTS FOURTH QUARTER AND FISCAL 1992 RESULTS AND FIRST QUARTER CASH DIVIDEND
WESTERN DIGITAL REPORTS FOURTH QUARTER EARNINGS
CHIPS AND TECHNOLOGIES REPORTS NET SALES OF $141.1 MILLION AND A LOSS FOR FISCAL 1992; INCLUDES FURTHER RESTRUCTURING CHARGES
WESTERN DIGITAL REPORTS FOURTH QUARTER EARNINGS
HYTEK ANNOUNCES THIRD-QUARTER RESULTS; ANTICIPATES LOWER FOURTH QUARTER
HYTEK ANNOUNCES SECOND QUARTER RESULTS
HYTEK ANNOUNCES FOURTH QUARTER AND FISCAL 1993 RESULTS
HYTEK ANNOUNCES FIRST QUARTER 1994 RESULTS
Hytek Microsystems, Inc. - Revenues Expected to Decline as Major Customer Stretches Out Delivery Schedule
Hytek Announces Third Quarter Results; Backlog Reaches $10.5 Million

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