Printer Friendly

INPUT/OUTPUT REPORTS RECORD FIRST QUARTER

 INPUT/OUTPUT REPORTS RECORD FIRST QUARTER
 STAFFORD, Texas, Sept. 15 /PRNewswire/ -- Input/Output, Inc.


(NASDAQ: IPOP) today reported that for its first quarter ended Aug. 31, 1992, net revenues increased 24 percent to $11.3 million from $9.1 million in the first quarter of the prior year. Net earnings for the quarter increased 42 percent to $1.4 million, or $.19 per share, as compared to $1 million, or $.14 per share, in the first quarter of last year.
 The company said that the strength of its revenues for the quarter reflects growing market acceptance of its I/O SYSTEM TWO(TM) land seismic data acquisition system, the first land seismic system to feature 24-bit analog to digital converter technology.
 The company shipped two I/O SYSTEM TWO land seismic data acquisition systems to the People's Republic of China and one I/O SYSTEM TWO to a seismic contractor in Colombia during the quarter. These were the first I/O SYSTEM TWO's to be shipped to the growing Chinese and Colombian markets. Additionally during the quarter, the company shipped an I/O SYSTEM ONE(TM) to Pakistan, its first system into that market.
 Input/Output, Inc., headquartered in Stafford, has designed, manufactured and marketed seismic instruments worldwide for 24 years.
 INPUT/OUTPUT, INC. AND SUBSIDIARIES
 Consolidated Statements of Operations
 (In thousands, except per-share data)
 (Unaudited)
 Three months ended Aug. 31 1992 1991
 Net sales and other
 operating revenues $11,285 $9,069
 Cost of sales and other
 operating expenses 6,190 4,721
 Gross profit 5,095 4,348
 Operating expenses:
 Research and development 1,106 1,039
 Marketing and sales 1,125 923
 General and administrative 994 917
 Amortization of identified
 intangibles 175 113
 Total operating expenses 3,400 2,992
 Earnings from operations 1,695 1,356
 Interest expense (32) (119)
 Other income 434 289
 Earnings before income taxes 2,097 1,526
 Income taxes 671 519
 Net earnings 1,426 1,007
 Earnings per common share $0.19 $0.14
 Average shares outstanding 7,398 7,265
 -0- 9/15/92
 /CONTACT: Christine R. Eilert of Input/Output, 713-240-2200/
 (IPOP) CO: Input/Output, Inc. ST: Texas IN: SU: ERN


CK -- NY029 -- 9530 09/15/92 10:16 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 15, 1992
Words:372
Previous Article:OPENCONNECT SYSTEMS AND NETMANAGE ANNOUNCE IBM TERMINAL EMULATION FOR CHAMELEON TCP/IP
Next Article:MERRILL CORPORATION REPORTS RECORD QUARTERLY RESULTS
Topics:


Related Articles
INPUT/OUTPUT ANNOUNCES RECORD SECOND QUARTER
INPUT/OUTPUT ANNOUNCES RECORD THIRD QUARTER
INPUT/OUTPUT REPORTS RECORD YEAR
INPUT/OUTPUT REPORTS RECORD QUARTER; REVENUES UP 87 PERCENT; EARNINGS UP 89 PERCENT
INPUT/OUTPUT ANNOUNCES RECORD FIRST QUARTER
Input/Output Anticipates Lower Than Expected Second Quarter Revenues and Earnings
Input/Output Reports Third Quarter Results
Input/Output Reports First Quarter Results
Input/Output Announces its Equipment Used in 4D Seismic Survey
Input/Output Reports Record Revenues and Earnings for Second Quarter and First Half

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