Printer Friendly

OPTROTECH ANNOUNCES THIRD QUARTER OPERATING RESULTS (UNAUDITED)

    OPTROTECH ANNOUNCES THIRD QUARTER OPERATING RESULTS (UNAUDITED)
    BILLERICA, Mass., Nov. 8 /PRNewswire/ -- Optrotech, Ltd. (NASDAQ: OPTKF) today announced unaudited consolidated revenues and earnings for the third quarter (July - September) of 1991.
    Net income after tax for the third quarter ending Sept. 30, 1991 was $505,119 or 8 cents per share compared with net income of $105,682, or 3 cents per share, for the same period in 1990.  Net income in the nine month period ended Sept. 30, 1991 was $862,038 or 16 cents per share compared with net income of $1,030,878, or 19 cents per share, for the same period last year.
    The company's revenues for the three month period ended Sept. 30, 1991 were $17,740,606 compared with $20,456,190 for the third quarter in 1990.  Unaudited revenues for the nine month period ended Sept. 30, 1991 were $53,647,852 as compared to revenues of $59,937,524 for the same period in 1990.
    The reduction in sales is principally due to the slump in the printed circuit board industry prevailing in the United States and Europe.  In spite of the adverse market conditions, Optrotech maintained its market share worldwide.
    The newly introduced "Blaser", which has been characterized as a real breakthrough in optical inspection for fine line high volume is successfully conducting its beta-site program at a major computer manufacturer.
    A new product dedicated for the printing industry, the Sprint 110 has been delivered and satisfactorily accepted by a major printer in the U.S.A.  The machine automates the stripping process and outputs full size flats necessary to create offset lithographic plates.  The company is presently accumulating orders on this new product.
    Management believes that its new families of products which are the outcome of Optrotech's extensive Research & Development efforts, will enable the company to increase profits and maintain its strong position in the Printed Circuit Board and related markets. OPTROTECH LTD. CONDENSED CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)
                          Three Months Ended          Nine Months Ended
                          9/30/91     9/30/90       9/30/91      9/30/90
    Revenues          $17,740,606 $20,456,190   $53,647,852  $59,937,524
    Net income after
     taxes                505,119     105,682       862,038    1,030,878
    Earnings per share    8 cents    3 cents       16 cents     19 cents
    Number of shares
     outstanding        7,108,588   6,950,319     7,104,952    6,412,298
    -0-                          11/8/91
    /CONTACT: Tali Idan vice president, finance & administration of Optrotech, Inc., 508-667-6037/
   (OPTKF) CO:  Optrotech, Inc. ST:  Massachusetts IN:  CPR SU:  ERN DD-KM -- NE007 -- 2551 11/08/91 10:50 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:Nov 8, 1991
Words:434
Previous Article:NEWPARK RESOURCES ANNOUNCES OPENING OF SEVENTH WASTE TRANSFER FACILITY
Next Article:ADAMS RESOURCES & ENERGY ANNOUNCES EARNINGS AND THIRD QUARTER RESULTS
Topics:


Related Articles
OPTROTECH ANNOUNCES FIRST QUARTER OPERATING RESULTS (UNAUDITED)
CORRECTION TO OPTROTECH ANNOUNCES FIRST QUARTER OPERATING RESULTS
OPTROTECH ANNOUNCES SECOND QUARTER OPERATING RESULTS (UNAUDITED)
ELRON ELECTRONIC INDUSTRIES ANNOUNCES THAT ITS AFFILIATE OPTROTECH AGREES TO MERGE WITH ORBOT
OPTROTECH LTD. ANNOUNCES SHAREHOLDER APPROVAL OF TRANSACTION WITH ORBOT SYSTEMS LTD.
OPTROTECH LTD. ANNOUNCES RECORD DATE FOR DIVIDEND AND CLOSING DATE FOR TRANSACTION WITH ORBOT SYSTEMS LTD.
OPTROTECH ANNOUNCES CLOSING OF TRANSACTION WITH ORBOT SYSTEMS LTD. AND NAME TO BE CHANGED TO ORBOTECH LTD.
ORBOTECH LTD., FORMERLY OPTROTECH LTD., ANNOUNCES CLOSE OF FTC INVESTIGATION
ORBOTECH ANNOUNCES QUARTERLY RESULTS
ORBOTECH ANNOUNCES 1993 YEAR END RESULTS

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