Tech-Sym announces preliminary third quarter results.HOUSTON,Texas--(BUSINESS WIRE)--Oct. 8, 1996 -- Tech-Sym Corporation (NYSE NYSE See: New York Stock Exchange :TSY TSY Technology Systems (Bellcore) TSY Telephony Subsystem TSY The Sophomore Year (band) ) today announced preliminary results for its third quarter ended September 30, 1996. For the third quarter, revenues are expected to reach $86 million. Net income is expected to be in the range of $3.2 million to $3.4 million, or $0.51 to $0.55 per share, compared to net income of $3.9 million, or $0.60 per share for the third quarter of 1995. The company stated that its slightly lower than expected earnings were primarily a result of continued slower than anticipated sales of geoscience ge·o·sci·ence n. Any one of the sciences, such as geology or geochemistry, that deals with the earth. ge software products. The company believes that the employee reductions and consolidation of software development centers undertaken at the CongniSeis unit in the third quarter, plus additional employee reductions to be completed in the fourth quarter, will enhance future results. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, risks associated with the uncertainty of market acceptance of the Company's products, limited number of customers, as well as risks of downturns in economic conditions generally, risks associated with competition and competitive pricing pressures, and other risks detailed in the company's filings with the Securities and Exchange Commission. Tech-Sym Corporation is a high technology company that designs, develops and manufactures electronic systems and components used in diverse markets including oil and gas exploration and production, communications and defense systems. CONTACT: Tech-Sym Corp, Houston Wendell W. Gamel, 713/785-7790 Robert P. Jones/Paul Furcinito Media contact: Lee Foley Morgen-Walke Associates 212/850-5600 |
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