Printer Friendly

APPLIED RESEARCH CORPORATION ANNOUNCES EARNINGS

 APPLIED RESEARCH CORPORATION ANNOUNCES EARNINGS
 LANDOVER, Md., Jan. 27 /PRNewswire/ -- Applied Research


Corporation (PHLX: ARL.X) announced today its results for the second quarter ended Nov. 30, 1991. The results are summarized below:
 APPLIED RESEARCH CORPORATION
 (in thousands)
 Periods Ended Three Months Six Months
 Nov. 30, 1991 1990 1991 1990
 Contract revenue $1,495 $1,432 $2,955 $2,959
 Operating income (loss) 43 (18) 95 7
 Net income (loss) 15 (63) 42 (94)
 Net income (loss) per
 common share 0.003 (0.013) 0.009 (0.020)
 The company's revenues for the quarter ended Nov. 30, 1991, were $1,494,687 compared to revenues of $1,432,109 for the quarter ended Nov. 30, 1990. The company posted operating income of $42,907 for the quarter ended Nov. 30, 1991, compared to a loss of $18,481 for the quarter ended Nov. 30, 1990. This represents a $61,388, or 332 percent, increase in operating income over the same quarter a year ago and marks the company's third consecutive profitable quarter.
 The company increased its billable direct cost of services for the current quarter by $14,632 over the quarter ended Nov. 30, 1990. In a predominately cost plus fixed fee environment this equates to increased contract revenues and a related increase in operating profit. The company reduced indirect operating costs and general and administrative expenses by $10,493 and $2,949, respectively, during the quarter ended Nov. 30, 1991, compared to the same quarter a year ago.
 The company recorded net income of $15,150 for the quarter ended Nov. 30, 1991, compared to a net loss of $63,345 for the quarter ended Nov. 30, 1990. This represents a $78,495, or 124 percent, increase in net income over the quarter ended Nov. 30, 1990. The company continues to reduce its use of costly factoring arrangements as a source of secondary financing. As a result, the company decreased its cost of borrowing by $10,738, or 28 percent, during the current quarter compared to the quarter ended Nov. 30, 1990.
 Applied Research Corporation is a high technology company specializing in research and development, technical support services and software development. The company strengths are in the atmospheric sciences, space sciences, geophysics and computer related services.
 -0- 1/27/92
 /CONTACT: J. Andrew Moorer, finance manager, Applied Research Corporation, 301-459-8442/
 (ARL) CO: Applied Research Corporation ST: Maryland IN: SU: ERN


MK-TW -- DC028 -- 3933 01/27/92 17:02 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 27, 1992
Words:410
Previous Article:DISNEY INCREASES DIVIDEND
Next Article:CIPRICO ANNOUNCES DISK ARRAY WITH 5.4 GB CAPACITY EXPANDS PRODUCT OFFERING TO INCLUDE DRIVES (Product Announcement)


Related Articles
MINNTECH CORPORATION REPORTS THIRD QUARTER EARNINGS
APPLIED PARALLEL RESEARCH FORMED; ACQUIRES FORGE, MIMDIZER; ANNOUNCES CONTRACT WITH THINKING MACHINES
APPLIED INNOVATION INC. ANNOUNCES LOWER FOURTH QUARTER EARNINGS; RECORD EARNINGS FOR 1991
APPLIED RESEARCH CORPORATION ANNOUNCES EARNINGS
APPLIED RESEARCH CORPORATION ANNOUNCES EARNINGS
APPLIED RESEARCH CORPORATION ANNOUNCES EARNINGS
APPLIED RESEARCH CORPORATION ANNOUNCES EARNINGS
APPLIED RESEARCH CORPORATION ANNOUNCES FIRST QUARTER EARNINGS/COST REDUCTIONS
Applied Films Recalculates Prior Year Fourth Quarter Shares.
PR Newswire Pacific Northwest Summary Monday, July 23, 2001 Up to 2:00 p.m. PT.

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