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ATRIX INTERNATIONAL ANNOUNCES FOURTH QUARTER AND YEAR END RESULTS

 MINNEAPOLIS, Sept. 7 /PRNewswire/ -- Atrix International, Inc. (NASDAQ: ATXI), today reported its results of operations for the fourth quarter ended June 30, 1993. Net sales were $1,172,216 compared with net sales of $1,438,333 for the same period in the prior year. The company showed a net loss of $330,456, or $.07 per share, for the three months ended June 30, 1993, compared with a net loss of $202,175, or $.04 per share for the same quarter last year.
 For the year ended June 30, 1993, net sales were $4,580,764 compared with net sales of $4,169,198 for the prior year, or an 11 percent increase. The company reported a net loss of $602,154, or $.12 per share for fiscal 1993 compared with a net loss of $935,587, or $.21 per share for fiscal 1992. Gross margins were up by .5 percent and operating expenses were down by $47,000 for fiscal 1993 compared with fiscal 1992.
 Atrix President and CEO Steven D. Riedel said that while the annual loss was greater than expected, there were several encouraging factors which he believed should be noted: European sales started the year down and improved throughout the year; gross margins improved even though inventory adjustments of approximately $30,000 over the prior year were absorbed; inventory turns improved by .56 and over $50,000 of non- recurring expenses were incurred in SEC filings. In addition the company is entering 1994 with a record $900,000 backlog and expects sales to continue to improve.
 Riedel also noted that from a cash flow standpoint, net cash for operating and investing activities improved over the prior year. Total cash was down primarily due to a private offering in the prior year which impacted cash by approximately $690,000. Riedel stated that annual non-cash charges to income were approximately $450,000, which greatly reduced the impact of the annual loss. He called attention to the fact that the company paid down almost $200,000 in payables and debt during the 1993 fiscal year, while reducing fixed asset purchases by over $50,000.
 Riedel said, "We have taken steps to clean up our operations and plan to improve our performance in 1994. We are aggressively moving to expand our products and services to existing as well as new customers. We also will continue to improve gross margins while controlling expenses."
 Atrix International is a 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, static protection products and remote monitoring and telemetry systems. 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.
 STATEMENTS OF OPERATIONS
 Three Months Ended Year Ended
 6/30/93 6/30/92 6/30/93 6/30/92
 Net sales 1,172,216 1,438,333 4,580,764 4,169,198
 Cost of sales 899,054(a) 1,038,477(c)3,196,526 2,930,937
 Gross profit 273,162 399,856 1,384,238 1,238,261
 Selling, general and
 administrative
 expenses 579,076(b) 574,751(d)1,908,409 1,955,365
 Loss from operations (305,914) (174,895) (524,171) (717,104)
 Other income/expense,
 net $24,542 $27,280 $77,983 $98,483
 Ames acquisition costs -- -- -- 120,000
 Net loss $(330,456) $(202,175) $(602,154) $(935,587)
 Net loss per share $(0.07) $(0.04) $(0.12) $(0.21)
 Weighted average number
 of common stock
 equivalents 5,172,510 5,167,102 5,192,549 4,455,542
 (a) Includes $74,000 cost of sales for year-end inventory adjustments.
 (b) Includes $46,000 of annual software amortization for R3.
 (c) Includes $44,000 cost of sales for year-end inventory adjustments.
 (d) Includes $185,000 of annual patent and software amortization for R3.
 -0- 9/7/93
 /CONTACT: Gerald D. Rice, chief financial officer of Atrix International, 612-894-6154/
 (ATXI)


CO: Atrix International, Inc. ST: Minnesota IN: CPR SU: ERN

DB-DS -- MN018 -- 9546 09/07/93 18:14 EDT
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Publication:PR Newswire
Date:Sep 7, 1993
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