Printer Friendly

SEATTLE FILMWORKS INC. ANNOUNCES RECORD EARNINGS

 SEATTLE, Nov. 10 /PRNewswire/ -- Seattle FilmWorks Inc. (NASDAQ: FOTO) today announced record earnings of $1.30 per share for the fiscal year ended Sept. 25, 1993. This represents a 21 percent improvement over earnings for fiscal 1992 of $1.07 per share. Net income of $3,570,000 for fiscal 1993 represents a 23 percent improvement over net income of $2,905,000 in fiscal 1992. Net revenues for fiscal 1993 were $42,728,000, up 11 percent from $38,442,000 in fiscal 1992.
 For the fourth quarter of fiscal 1993, net income was $1,972,000, or 72 cents per share compared to $1,626,000, or 60 cents per share, for the same period of fiscal 1992. Net revenues for the fourth quarter of fiscal 1993 were $13,091,000, up 14 percent from $11,510,000 for the same quarter of the previous fiscal year.
 "While being very pleased with our record annual earnings, we are most excited about the improved revenue growth we achieved in our fourth quarter compared to earlier quarters," stated Gary Christophersen, president and chief executive officer. "In spite of the uncertainties of the current economic climate, we believe we are well positioned for the future."
 SEATTLE FILMWORKS INC.
 For the fourth quarter ended For the fiscal year ended
 Sept. 25, Sept. 26, Sept. 25, Sept. 26,
 1993 1992 1993 1992
 Net revenues $13,091,000 $11,510,000 $42,728,000 $38,442,000
 Net income $ 1,972,000 $ 1,626,000 $ 3,570,000 $ 2,905,000
 Earnings per
 share(A) $ 0.72 $ 0.60 $ 1.30 $ 1.07
 (A) All Earnings per share data reflects three-for-two stock split distributed Feb. 26, 1993.
 -0- 11/10/93
 /CONTACT: Gary Christophersen, chief executive officer, or Jim Smith, chief financial officer, of Seattle FilmWorks, 206-281-1390/
 (FOTO)


CO: Seattle FilmWorks Inc. ST: Washington IN: SU: ERN

RB-AL -- SE011 -- 2781 11/10/93 13:00 EST
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:Nov 10, 1993
Words:322
Previous Article:RIEDEL ENVIRONMENTAL ANNOUNCES THIRD QUARTER LOSS
Next Article:SCIENTIFIC-ATLANTA TELECOMMUNICATIONS INSTRUMENTATION BUSINESS ACQUIRED BY ACME-CLEVELAND CORPORATION

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