ATRIX INTERNATIONAL ANNOUNCES FIRST QUARTER RESULTS
ATRIX INTERNATIONAL ANNOUNCES FIRST QUARTER RESULTS MINNEAPOLIS, Oct. 26 /PRNewswire/ -- Atrix International, Inc.
(NASDAQ: ATXI) reported its results of operations for the first quarter ended Sept. 30, 1992.
For the three months ended Sept. 30, 1992, net sales were $1,296,156 compared with net sales of $814,236 for the same period in the prior year. The company reported a net income of $27,263 or $.01 per share, for the three months ended Sept. 30, 1992. This compares to a net loss of $207,343 or $.05 per share for the same quarter last year. The strength of earnings was due to several factors: the sale of a high technology product to a Fortune 500 company; increased cleaning product and tool volumes; and reduced operating expenses, both recurring and non-recurring, such as those expenses resulting from the Versa-Link acquisition and the attempted acquisition of Ames Supply Company in the prior year. A company spokesperson said, "The outlook for the year is optimistic because of increases in overall core business and increased sales activity with new customers." Atrix International is a worldwide supplier of tool systems and cleaning products to field service organizations in the office and communications industries. The company assembles custom tool kits; manufactures and markets vacuums for copier and laser printer maintenance, static protection products, remote monitoring and telemetry systems and printed circuit board transport cases. The company is a distributor of electronic hand tools as well as a full line of instrumentation and diagnostic products. Atrix International is traded on NASDAQ under the symbol ATXI. ATRIX INTERNATIONAL, INC. STATEMENTS OF OPERATIONS Three Months Ended 9/30/92 9/30/91 Net sales $1,296,156 $814,236 Cost of sales 868,875 546,620 Gross profit 427,281 267,616 Selling, general and administrative expenses 380,508 449,092 Income (loss) from operations 46,773 (181,476) Interest expense, net 18,960 25,867 Income (loss) before income taxes 27,813 (207,343) Income tax expense (benefit) 550 0 Net income (loss) $27,263 $(207,343) Net income (loss) per share $.01 $(.05) Weighted average number of common stock equivalents 5,199,204 4,132,540 -0- 10/26/92 /CONTACT: Gerald D. Rice, chief financial officer of Atrix, 612-894-6154/ (ATXI) CO: Atrix International, Inc. ST: Minnesota IN: SU: ERN
KH -- MN006 -- 4645 10/26/92 10:09 EST
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|Date:||Oct 26, 1992|
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