ATRIX INTERNATIONAL ANNOUNCES FIRST QUARTER RESULTS
ATRIX INTERNATIONAL ANNOUNCES FIRST QUARTER RESULTS MINNEAPOLIS, Nov. 5 /PRNewswire/ -- Atrix International, Inc.
(NASDAQ: ATXI), today reported its results of operations for the first quarter ended Sept. 30, 1991. Atrix President and CEO, Clifford B. Meacham, said, "Sales for the quarter were very soft. Later this month we hope to release announcements of signed contracts resulting from our first quarter sales efforts."
For the three months ended Sept. 30, 1991, Atrix reported net sales of $801,076 compared with net sales of $1,142,863 for the same period a year ago. The company reported a loss of $207,343 or $.05 per share, for the three months ended Sept. 30, 1991. This compares with a net loss of $25,495 or $.02 for the same quarter a year ago. According to Meacham, sales are traditionally slow during the company's first fiscal quarter due to customer shutdowns for vacations, inventories and fiscal year end budgets. The first quarter last year was stronger due to anti-static kit sales to a major customer and opening orders for one of the company's European customers. Operating expenses are down from the prior quarter, but are above those of the same quarter last year. The increase over last year had been anticipated and is due to the February 1991 Versa-Link acquisition and the Ames Supply acquisition which is scheduled to close in December 1991. Atrix International is world wide supplier to field service technicians in the computer and electronics industries. The company manufactures and markets printed circuit board transport cases, vacuums for copier and laser printer maintenance, and static protection products. The company is a distributor of electronic hand tools as well as a full line of instrumentation and diagnostic products. Atrix also assembles custom tool kits. Atrix International is traded on NASDAQ under the symbol ATXI. ATRIX INTERNATIONAL, INC. STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPT. 30, 1991 1990 Net sales $801,076 $1,142,863 Cost of sales 533,461 756,353 Gross profit 267,615 386,510 Selling, general and administrative expenses $445,617 $385,054 Income (loss) from operations (178,002) 1,456 Interest expense, net 29,341 26,951 Loss before income taxes (207,343) (25,495) Provision for income taxes 0 0 Net loss $(207,343) $(25,495) Net loss per share $(.05) $(.02) Weighted average number of common stock equivalents 4,132,540 1,542,800 -0- 11/5/91 /CONTACT: Tim Hanson, CFO, of Atrix International, 612-894-6154/ (ATXI) CO: Atrix International Incorporated ST: Minnesota IN: SU: ERN JS-AL -- MN007 -- 1227 11/05/91 12:00 EST
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|Date:||Nov 5, 1991|
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