Printer Friendly

PRECISION SYSTEMS, INC. ANNOUNCES FISCAL 1992 RESULTS

 PRECISION SYSTEMS, INC. ANNOUNCES FISCAL 1992 RESULTS
 ST. PETERSBURG, Fla., Oct. 26 /PRNewswire/ -- Precision Systems,


Inc. (NASDAQ: PSYS), which is engaged in the research, development, production, marketing and support of fully integrated voice and call processing platforms, today reported results for the quarter and fiscal year ended Aug. 31, 1992.
 Fiscal 1992 fourth quarter revenues reached $5.8 million, an increase of 76.5 percent from $3.3 million in the prior year's period. Revenues for fiscal 1992 increased 66.4 percent to a record $18.6 million from $11.2 million in fiscal 1991.
 The fiscal 1992 fourth quarter net loss was $2.0 million, or 23 cents per share, compared with a net loss of $.3 million, or 4 cents per share, in fiscal 1991's last quarter. The net loss for fiscal 1992 was $2.7 million or 31 cents per share compared to a net loss of $2.4 million or 27 cents per share in fiscal 1991.
 Precision Systems, Inc. ("PSi") was a wholly owned subsidiary of Home Shopping Network, Inc. (NYSE: HSN) until July 31, 1992 when HSN distributed all of the outstanding common stock of PSi to HSN's shareholders. Per share amounts are adjusted for the distribution.
 Jacqueline E. Soechtig, president and chief executive officer said, "Our overall financial condition is sound based on our capitalization and funding as structured at the date of distribution. We feel that our quality platforms and aggressive marketing focus position us to increase our penetration in the telecommunications industry." She continued, "We look forward to facing the challenges of the future and are optimistic about pending negotiations with installed customers for additional systems and services."
 PRECISION SYSTEMS, INC.
 FOURTH QUARTER AND YEAR END FINANCIAL HIGHLIGHTS
 (IN MILLIONS, EXCEPT PER SHARE DATA)
 Three Months Ended Year Ended
 8/31/92 8/31/91 8/31/92 8/31/91
 Revenues $ 5.8 $ 3.3 $ 18.6 $ 11.2
 Net Loss $ (2.0) $ (0.3) $ (2.7) $ (2.4)
 Loss Per Share $ (.23) $ (.04) $ (.31) $ (.27)
 Shares Outstanding 8,779 8,779 (A) 8,779 8,779 (A)
 (A) -- As adjusted for the distribution of all PSi common stock outstanding to the shareholders of Home Shopping Network, Inc. on July 31, 1992.
 -0- 10/26/92
 /CONTACT: Everett Burrell of Precision Systems, 813-572-9300/
 (PSYS HSN) CO: Precision Systems, Inc. ST: Florida IN: TLS SU: ERN


AW-JB -- FL013 -- 4990 10/26/92 16:04 EST
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:Oct 26, 1992
Words:404
Previous Article:CITFED BANCORP SECOND QUARTER EARNINGS UP 71.9 PERCENT; YEAR-TO-DATE EARNINGS IMPROVED BY 44.8 PERCENT
Next Article:LACKRITZ RECOMMENDED AS SIA PRESIDENT TO SUCCEED O'BRIEN; RECOMMENDATION SUBJECT TO CONFIRMATION BY DIRECTORS AT ANNUAL CONVENTION IN DECEMBER
Topics:


Related Articles
PRECISION OPTICS CORPORATION ANNOUNCES RESULTS
STANFORD TELECOM ANNOUNCES 4TH QUARTER AND FISCAL 92 RESULTS
BOSTON TECHNOLOGY ANNOUNCES SECOND QUARTER RESULTS; COMPANY POSTS PROFIT OF 3 CENTS PER SHARE
PRECISION AEROTECH REPORTS FIRST QUARTER RESULTS
PRECISION OPTICS ANNOUNCES RESULTS
PRECISION SYSTEMS, INC. REPORTS FIRST QUARTER RESULTS
COMPTEK ANNOUNCES FISCAL 1993 FINANCIAL RESULTS
COMPTEK RESEARCH REPORTS FISCAL 1994 FIRST-QUARTER FINANCIAL RESULTS

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