Printer Friendly

MTS SYSTEMS CORPORATION REPORTS THIRD QUARTER RESULTS: EARNINGS PER SHARE UP 294 PERCENT

 EDEN PRAIRIE, Minn., July 27 /PRNewswire/ -- MTS Systems Corporation earned $2,864,300 in its third quarter, or $.63/share, up 294 percent from the comparable quarter one year ago. Included in third quarter results was a gain from the sale of land of $.09/share.
 Donald M. Sullivan, president and CEO, attributed the earnings gain to a 26 percent increase in revenues and an improved gross margin compared to the very weak quarter of the previous year.
 New orders for the quarter were $39,576,600, a 14 percent increase over the prior year. Sullivan said, "The order gain was less than plan in Europe and Japan, reflecting their weak economies. On the plus side, our Measurement and Automation Instrument sector in the U.S. posted a 29 percent gain in new orders."
 For the nine months of Fiscal 1993, revenues increased 19 percent to $132,008,400 from the $111,144,700 reported one year ago. Net Income for the period was $6,725,700 or $1.48/share compared to a weak $.64/share in the first nine months of Fiscal 1992.
 New orders for the nine months were $131,969,700, a 15 percent increase over the comparable period one year ago.
 Backlog as of June 30 was $99,405,000, up 16 percent from the previous year.
 MTS manufacturers computer based testing and simulation systems for determining the mechanical behavior of materials, products, and structures, and measurement and control instrumentation products for the automation of manufacturing processes.
 MTS SYSTEMS CORPORATION
 (Unaudited)
 Three Months Ended
 6/30/93 6/30/92
 Revenues $48,824,700 $38,850,000
 Income before taxes 4,361,100 1,066,500
 Income taxes 1,496,800 325,000
 Net income $2,864,300 $741,500
 Earnings per common and
 common equivalent share $.63 $.16
 Weighted average number of
 common and common
 equivalent shares 4,579,570 4,634,337
 Nine Months Ended
 6/30/93 6/30/92
 Revenues $132,008,400 $111,144,700
 Income before taxes 10,196,900 4,308,600
 Income taxes 3,471,200 1,340,000
 Net income $6,725,700 $2,968,600
 Earnings per common and
 common equivalent share $1.48 $.64
 Weighted average number of
 common and common
 equivalent shares 4,546,249 4,604,212
 -0- 7/27/93
 /CONTACT: Donald Sullivan, president, 612-937-4111 or Marshall Carpenter, vice president, 612-937-4008, or Barbara Carpenter, assistant corporate secretary, 612-937-4006, all of MTS Systems Corporation/


CO: MTS Systems Corporation ST: Minnesota IN: CPR SU: ERN

TJ -- MN020 -- 6453 07/27/93 17:10 EDT
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:Jul 27, 1993
Words:431
Previous Article:ROYAL CARIBBEAN REPORTS 55 PERCENT INCREASE IN SECOND QUARTER PROFITS
Next Article:AIRTRAN CORPORATION REPORTS FIRST QUARTER EARNINGS
Topics:


Related Articles
MTS REPORTS EARNINGS INCREASE OF 24 PERCENT
MTS SYSTEMS CORPORATION REPORTS SECOND QUARTER RESULTS; EARNINGS PER SHARE UP 55 PERCENT
MTS SYSTEMS CORPORATION REPORTS FOURTH QUARTER AND FISCAL 1993 RESULTS; FISCAL YEAR EARNINGS PER SHARE UP 112 PERCENT.
MTS SYSTEMS CORPORATION REPORTS SECOND QUARTER RESULTS; EARNINGS PER SHARE UP 42% ON NON-RECURRING GAIN
MTS REPORTS INCREASED RESULTS FOR THE FOURTH QUARTER AND YEAR
MTS SYSTEMS REPORTS IMPROVED RESULTS FOR THE FIRST QUARTER
MTS SYSTEMS REPORTS 76% EPS INCREASE FOR THE THIRD QUARTER
MTS Systems Reports 31% Earnings Increase for the First Quarter
MTS Systems Reports 32 Percent Earnings Increase for the First Quarter
MTS Systems Reports Continued Growth for the Third Quarter.

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