Printer Friendly

RADIATION SYSTEMS ANNOUNCES RESULTS FOR YEAR AND QUARTER ENDED JUNE 30, 1993

 STERLING, Va., Aug. 23 /PRNewswire/ -- Radiation Systems, Inc. (NASDAQ-NMS: RADS), today announced fourth quarter and fiscal year 1993 results. The company reported net income of $2,916,000 (35 cents per share) on sales of $31.6 million for the three months ended June 30, 1993. For the same period in the prior year, net income was $2,959,000 (36 cents per share) on sales of $30.2 million. For the year ended June 30, 1993, net income was $10,240,000 ($1.23 per share) on sales of $121.8 million, as compared with $10,585,000 ($1.27 per share) on sales of $127.1 million for the corresponding period last year.
 Total backlog of unfilled orders on June 30, 1993, was $131.1 million compared to a backlog of $143.7 million at June 30, 1992, and $134.7 million at March 31, 1993.
 Richard E. Thomas, chairman and chief executive officer of Radiation Systems, said that he was disappointed that the company was not able to maintain the upward growth trend in fiscal year 1993; however, he was pleased with the overall results in what was a very trying and frustrating year. Thomas noted that many potential new programs were delayed and events such as the change in political administration and the tornado, which struck our Electromechanical Systems Division, contributed to the decline in sales and bookings. He said, however, that those things were in the past and business opportunities, especially in the international arena, were currently demonstrating significant activity. Finally, he noted that the company had successfully submitted technical proposals for a number of large programs that were now funded and would be awarded in the near future.
 Radiation Systems, Inc. designs, manufactures and installs a broad range of antenna turnkey systems and components for radar, air traffic control, tactical military, satellite communications, terrestrial microwave and other specialized uses throughout the world.
 RADIATION SYSTEMS, INC.
 COMPARATIVE HIGHLIGHTS
 (In thousands, except per share amounts and percentages)
 (Unaudited) (Audited)
 Three Months Ended Year Ended
 June 30, June 30,
 Pct. Pct.
 1993 1992 Change 1993 1992 Change
 Sales $31,635 $30,156 5 $121,786 $127,136 4
 Earnings Before Tax 4,411 4,680 (6) 15,576 16,919 (8)
 Income Taxes 1,495 1,721 (13) 5,336 6,334 (16)
 Net Earnings 2,916 2,959 (1) 10,240 10,585 (3)
 Earnings per Share $0.35 $0.36 (3) $1.23 $1.27 (3)
 Average and Equivalent
 Shares Outstanding 8,326 8,359 8,356 8,365
 Investment Income
 Net of Interest
 Expense (Pretax) 41 29 (80) 164
 Operating Margin
 (Pretax) 13.8 pct. 15.4 pct. 12.9 pct. 13.2 pct.
 Effective Tax Rate 33.9 pct. 36.8 pct. 34.3 pct. 37.4 pct.
 Net Earnings as a
 Percent of Sales 9.2 pct. 9.8 pct. 8.4 pct. 8.3 pct.
 -0- 8/23/93
 /CONTACT: Richard E. Thomas, chairman and CEO, or Mark D. Funston, chief financial officer, 703-450-5680, or Douglas Poretz (corporate PR), 703-506-1778, all of Radiation Systems, Inc./
 (RADS)


CO: Radiation Systems, Inc. ST: Virginia IN: ARO SU: ERN

IH-KD -- DC007 -- 4979 08/23/93 10:28 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:Aug 23, 1993
Words:534
Previous Article:PHH CORPORATION ANNOUNCES RECORD FIRST QUARTER RESULTS; NET INCOME UP 17 PERCENT, EARNINGS PER SHARE UP 14 PERCENT
Next Article:BRYAN ENARSON NAMED USAIR REGIONAL DIRECTOR-PUBLIC AFFAIRS
Topics:

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