SAND TECHNOLOGY SYSTEMS INTERNATIONAL REPORTS A FIRST QUARTER PROFIT OF $723,343 WITH EARNINGS AT $0.16 PER SHARE
SAND TECHNOLOGY SYSTEMS INTERNATIONAL REPORTS A FIRST QUARTER
PROFIT OF $723,343 WITH EARNINGS AT $0.16 PER SHARE
MONTREAL, Dec. 9 /PRNewswire/ -- Sand Technology Systems International (NASDAQ: SNDCF) today announced a net income of $723,343 or $0.16 per share, on sales amounting to $12,111,784 for the first fiscal quarter ended Oct. 31, 1991.
Sand Chairman Arthur G. Ritchie stated that the increase in profits was primarily due to the profit swing in its joint venture company, the company's affiliate, Hitachi Data Systems Inc. (HDS Canada).
Sand Technology Systems International markets complete large-scale IBM compatible computer systems in Canada and computer printers and sophisticated information systems products in the U.S.A. To date Sand and its affiliates have installed equipment valued in excess of $450 million.
SAND TECHNOLOGY SYSTEMS INTERNATIONAL INC.
Consolidated Statement of Operations
In Canadian Dollars -- Unaudited
Three months ended Year
Oct. 31 1991 1990
Net Sales $12,111,784 $6,859,208
Net Income $723,343 $291,390
Net Income Per Share $0.16 $0.07
Weighted average number of
shares outstanding 4,429,156 4,431,028
/CONTACT: Susan Waxman of Sand Technology Systems International, 514-939-3477/
(SNDCF) CO: Sand Technology Systems International ST: Quebec IN: CPR SU: ERN SM -- NY003 -- 0374 12/09/91 08:00 EST