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ATL REPORTS FIRST-QUARTER RESULTS

 BOTHELL, Wash., April 20 /PRNewswire/ -- ATL (Advanced Technology Laboratories Inc.) today reported results for the first quarter ending April 2, 1993.
 Revenues grew 7.2 percent over the first quarter of 1992 to $81.4 million in the first quarter of 1993. Net income was $1.9 million, or 17 cents per share, in this year's first quarter compared with $3.1 million, or 29 cents per share, in the same quarter of 1992. The results reflect several factors affecting the medical equipment industry as identified earlier by the company, including the continuing uncertainty over the impact of health care reform issues in the United States.
 "We are pleased with the revenue growth of our Ultramark(R) 9 High Definition(TM) Imaging system (HDI(TM)) in the quarter and believe that our market share in high-end radiology continued to grow," said Dennis C. Fill, ATL chairman and chief executive officer. "However, marketplace and economic uncertainties continued to place pressure on pricing and gross margins.
 "We believe the introduction yesterday of Extended Signal Processing (ESP), a milestone advance of our digital HDI technology, as well as our fifth broadband scanhead, will continue the momentum of our HDI system. Customer deliveries will begin this quarter. ESP technology is the next step in the full utilization of the diagnostic information available from the digital broadband HDI signal by reducing speckle noise, an ultrasound artifact that has restricted ultrasound image clarity. The advance has the potential to make ultrasound the primary diagnostic imaging tool in an expanding array of applications," Fill said.
 Total operating expenses rose 5.9 percent over the first quarter of 1992, declining as a percent of revenues to 42.1 percent in the first quarter from 42.6 percent in the prior year's quarter. Marketing and administrative expenses increased 1.8 percent and research and development expenses grew by 19.4 percent over the first quarter of 1992. Additionally, the quarter included nonrecurring expenses of $0.4 million for the planned consolidation of a transducer division located in California with the company's manufacturing operations in Bothell.
 The company repurchased 172,500 shares as of the end of the first quarter bringing total shares outstanding to 11,087,000. In February 1993, the board of directors authorized the company to buy back up to 1,000,000 shares.
 ATL, with headquarters in Bothell, is a worldwide leader in the development, manufacture, marketing and service of medical ultrasound systems. The company, with revenues of $324 million in 1992, employs over 2,000 people at locations around the world. ATL stock is traded on the NASDAQ National Market System under the symbol ATLI.
 ADVANCED TECHNOLOGY LABORATORIES INC.
 CONDENSED CONSOLIDATED BALANCE SHEETS
 (In thousands)
 April 2, Dec. 31,
 1993 1992
 (Unaudited)
 ASSETS
 Current Assets:
 Cash and short-term investments $ 70,772 $ 77,445
 Receivables 86,620 90,836
 Inventories 68,318 69,404
 Prepaid expenses 1,731 1,297
 Deferred income taxes 10,360 10,406
 Total 237,801 249,388
 Marketable debt securities 4,988 --
 Property, plant and equipment, net 42,128 41,302
 Other assets 4,231 4,921
 Total $289,148 $295,611
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current Liabilities:
 Short-term borrowings $ 3,605 $ 4,528
 Accounts payable and accrued expenses 48,057 53,698
 Deferred revenue 28,545 27,667
 Taxes on income 2,719 2,729
 Total 82,926 88,622
 Deferred income taxes 2,762 2,853
 Shareholders' equity 203,460 204,136
 Total $289,148 $295,611
 Common shares outstanding 11,087 11,250
 ADVANCED TECHNOLOGY LABORATORIES INC.
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 (Unaudited, in thousands, except per-share data)
 April 3, March 27,
 Three Months Ended: 1993 1992
 Revenues:
 Product sales $ 66,610 $ 61,632
 Service 14,789 14,306
 Total 81,399 75,938
 Cost of Sales:
 Cost of product sales 35,659 31,874
 Cost of service 9,912 8,844
 Total 45,571 40,718
 Gross profit 35,828 35,220
 Operating Expenses:
 Marketing and administrative 22,326 21,927
 Research and development 10,354 8,673
 Other expense, net 1,598 1,782
 Total 34,278 32,382
 Income from operations 1,550 2,838
 Investment income 889 1,238
 Interest expense (185) (211)
 Income before income taxes 2,254 3,865
 Provision for income taxes 337 789
 Net income $ 1,917 $ 3,076
 Net income per share $ 0.17 $ 0.29
 Weighted average common shares
 and equivalents outstanding 11,348 10,625
 -0- 4/20/93
 /CONTACT: Anne Marie Bugge of ATL, 206-487-7081/
 (ATLI)


CO: Advanced Technology Laboratories Inc. ST: Washington IN: MTC SU: ERN

LM-BR -- SE008 -- 7776 04/20/93 08:16 EDT
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Date:Apr 20, 1993
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