Printer Friendly

ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. ANNOUNCES RECORD FOURTH QUARTER AND YEAR-END OPERATING RESULTS

 VANCOUVER, British Columbia, April 21 /PRNewswire/ -- Advanced Gravis (OTC Bulletin Board: GRVSF) announces operating results for the year ended Jan. 31, 1993. Total revenues for the year ended Jan. 31, 1993, were $13,869,571, an increase of $8,101,285 or 140 percent over the 1992 year. The net income for the year was $607,570, or 6 cents per share, vs. a net loss of $574,000 or 7 cents for last year.
 Total revenues for the fourth quarter ended Jan. 31, 1993, were $5,960,171, which represents an increase of $3,756,292 or 170 percent over the same period in 1992. The net income for the fourth quarter was $387,775, or 4 cents per share, compared to a net loss of $149,917, or 2 cents per share, for the same period last year.
 Significant sales growth was achieved mainly because of new products and expanded European distribution. The Gravis UltraSound was introduced in mid-October and contributed significantly to total sales. The Analog Pro, a joystick for IBM PCs, and MouseStick II, an optical joystick for Macintosh, were introduced in the fourth quarter. These new products contributed to the much improved bottom line of the company.
 The outlook for the new fiscal year is positive. The recent product introductions, especially UltraSound, should provide the company with strong growth in the coming year. The mid-March release of Version 2 of the UltraSound software resulted in a temporary slow- down in UltraSound shipments in the beginning of the new first quarter. The improved software now shipping has allowed Gravis to resume aggressive selling of UltraSound. As a result of this delay and the traditional seasonal decline, the company anticipates first quarter revenues will not meet the previous fourth quarter's record levels.
 Advanced Gravis is a leading designer and manufacturer of high- quality entertainment devices for personal computers, including joysticks, PC GamePads, MouseSticks, and UltraSound.
 -0- 4/21/93
 /CONTACT: Grant Russell of Advanced Gravis, 604-431-5020/
 (GRVSF)


CO: Advanced Gravis Computer Technology Ltd. ST: British Columbia IN: CPR SU: ERN

LS-JL -- LA016 -- 8526 04/21/93 09:14 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:Apr 21, 1993
Words:352
Previous Article:THOMAS W. VELLECA JOINS ARCO INTERNATIONAL OIL AND GAS CO. AS SENIOR VICE PRESIDENT, EXPLORATION
Next Article:MARION MERRELL DOW INC. REPORTS SUBSTANTIALLY LOWER FIRST-QUARTER SALES, EARNINGS
Topics:


Related Articles
ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. REPORTS NINE-MONTH OPERATING RESULTS
ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. ANNOUNCES YEAR-END AND FOURTH QUARTER OPERATING RESULTS
ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. ANNOUNCES FISCAL 1993 SECOND QUARTER OPERATING RESULTS
ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. FISCAL 1993 THIRD QUARTER OPERATING RESULTS
ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. ANNOUNCES OFFERING
ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. ANNOUNCES THIRD QUARTER RESULTS FISCAL 1994
ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. ANNOUNCES RECORD FOURTH QUARTER AND YEAR-END REVENUES
ADVANCED GRAVIS ANNOUNCES FISCAL 1996 FIRST QUARTER OPERATING RESULTS
Advanced Gravis Computer Technology Ltd. Announces Bank Loan Extension And Due Diligence Process Completion
Advanced Gravis Computer Technology Ltd. Extends Existing Credit Facility

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters