Printer Friendly

ASTRO-MED REPORTS THIRD QUARTER RESULTS; DIRECTORS DECLARE REGULAR CASH DIVIDEND

 WEST WARWICK, R.I., Dec. 2 /PRNewswire/ -- Astro-Med, Inc. (NASDAQ: ALOT) had net income of $703,000, equal to 14 cents per common share, on sales of $7,897,000 for the fiscal third quarter ended October 30, 1993. For the corresponding period last year, the company had net income of $858,000, equal to 17 cents per common share, on sales of $7,502,000.
 For the nine-months ended October 30, net income amounted to $2,110,000, equal to 41 cents per common share, on sales of $24,397,000. In the comparable year earlier period, the company had net income of $2,509,000, equal to 49 cents per common share, on sales of $23,649,000.
 Albert W. Ondis, chief executive officer, stated, "Although our fiscal third quarter earnings trailed the prior year, principally reflecting the recessionary economic climate worldwide, they increased by 39% over the second quarter. Our new bar code printer products are beginning to make a meaningful penetration in a market that is growing at a very high rate. Aided by new product introductions, and with some positive signs beginning to develop in certain European markets, Astro-Med is well positioned to generate solid growth in both sales and earnings in the months ahead."
 The Board of Directors declared the regular cash dividend of 3 cents per share payable January 4, 1994 to shareholders of record on December 13, 1993. Mr. Ondis, indicated that the company's financial condition remains exceptionally strong, with virtually no debt and with cash and marketable securities equal to $3.02 per share.
 Astro-Med, Inc. is a leading manufacturer of high speed specialty printers employed around the world in a wide range of industrial applications.
 ASTRO-MED, INC.
 Financial Highlights
 Third Quarter Ended Nine Months Ended
 10/30/93 10/31/92 10/30/93 10/31/92
 Net Sales $7,897,000 $7,502,000 $24,397,000 $23,649,000
 Net Income 703,000 858,000 2,110,000 2,509,000
 Earnings Per Share .14 .17 .41 .49
 Weighted Average Number
 of Common and Common
 Equivalent Shares
 Outstanding (A) 5,142,531 5,166,404 5,150,060 5,170,527
 (A) All share data reflects a 3-for-2 stock split effected in the form of a 50 percent stock dividend paid May 18, 1992 to holders of record May 1, 1992.
 -0- 12/2/93
 /CONTACT: Albert W. Ondis, Chairman and Chief Executive Officer of Astro-Med, 401-828-4000/
 (ALOT) CO: Astro-Med, Inc. ST: Rhode Island IN: CPR SU: ERN DIV


TW-LG -- NY024 -- 9683 12/02/93 09:56 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:Dec 2, 1993
Words:430
Previous Article:BIOMIRA INC. ANNOUNCES COMPLETION OF CANADIAN PUBLIC OFFERING
Next Article:GLOBAL NATURAL ANNOUNCES GULF DISCOVERY
Topics:

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