ZOOM TELEPHONICS REPORTS THIRD QUARTER RESULTS
ZOOM TELEPHONICS REPORTS THIRD QUARTER RESULTS BOSTON, Oct. 30 /PRNewswire/ -- Zoom Telephonics, Inc.
(NASDAQ-NMS: ZOOMF) today announced record sales and earnings for its third quarter.
ZOOM TELEPHONICS, INC. Financial Table (U.S. $) Third Quarter Earnings Nine Month Earnings 9/30/92 9/30/91 9/30/92 9/30/91 Sales $11,156,939 $7,587,624 $29,699,245 $17,559,811 Net income 1,030,210 662,133 2,585,126 1,639,458 Share earnings 18 cents 12 cents 45 cents 29 cents Zoom, which ranked fifth in Forbes' Nov. 9, 1992 list of the "200 Best Small Companies In America," said the strong results were due primarily to increased sales, both to its existing accounts and to new accounts, including Tech Data and Radio Shack. Zoom's third quarter sales of $11,156,939 were 47 percent higher than the prior year's quarter and 11 percent above Zoom's previous high in the second quarter of 1992. Net income of $1,030,210 was 56 percent higher than the prior year's quarter and 13 percent above the second quarter of 1992. Gross margin was 28.0 percent for the third quarter and 27.9 percent for the first nine months of 1992. Operating expenses were $1,406,211 or 12.6 percent of sales for the quarter, and $4,005,938 or 13.5 percent of sales for the nine months. Zoom noted that cash declined from $1,125,369 to $605,210 and bank debt increased from $500,000 to $1,635,000 due primarily to increases in accounts receivable and inventory. Accounts receivable increased from $3,982,514 to $5,092,129 reflecting increasing sales. Inventory increased from $8,503,453 to $9,205,482. Zoom's current ratio improved from 2.26 to 2.45 during the quarter, as accounts payable declined from $5,146,910 to $3,311,399. The Zoom/Faxmodem V.32 bis, Zoom's highest speed faxmodem, and Zoom's AFC and AFX, Zoom's lowest cost faxmodems, were chosen Best Buys by Consumer Guide in its recently released Computer Buying Guide, demonstrating Zoom's continuing success at meeting its commitment to provide value to its customers in all segments of the modem market. Zoom noted that in October it began shipping faxmodems for some models of Compaq's Prolinea line. Frank Manning, Zoom's president stated: "Compaq is extremely quality and value conscious, so Zoom is proud to be a qualified Compaq supplier." For additional information please contact Zoom Telephonics, 207 South Street, Boston, MA 02111, telephone 617-423-1072. -0- 10/30/92 /CONTACT: Frank Manning of Zoom Telephonics, 617-423-1072/ (ZOOMF) CO: Zoom Telephonics ST: Massachusetts IN: TLS SU: ERN
CH -- NE011 -- 7172 10/30/92 14:01 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Oct 30, 1992|
|Previous Article:||STERLING FINANCIAL CORP. BECOMES HOLDING COMPANY FOR STERLING SAVINGS ASSOCIATION|
|Next Article:||PFIZER COMPLETES SALE OF MAJORITY OF MINERALS TECHNOLOGIES INC. STOCK|