ATRIX INTERNATIONAL ANNOUNCES SECOND QUARTER RESULTS
ATRIX INTERNATIONAL ANNOUNCES SECOND QUARTER RESULTS MINNEAPOLIS, Feb. 18 /PRNewswire/ -- Atrix International, Inc.
(NASDAQ: ATXI) today reported its results of operations for the second quarter ended Dec. 31, 1991. Atrix President and CEO Clifford B. Meacham, said, "With the expiration of the Ames Supply purchase agreement, we can concentrate our efforts on sales of our core products to OEMs and major distributors and the marketing of the R3 Office Machine Monitor."
For the three months ended Dec. 31, 1991, Atrix reported net sales of $952,033 compared with net sales of $942,409 for the same period a year ago. The company reported a loss of $129,265, or $.03 per share for the three months ended Dec. 31, 1991. This compares with a net loss of $140,995, or $.04 per share for the same quarter one year ago. Sales for the six months ended Dec. 31, 1991, were $1,754,116 compared to $2,100,970 for the same period a year ago. Atrix reported a loss of $336,609, or $.08 per share, for the first six months of fiscal 1992. This compares to a loss of $166,490, or $.07 per share, for the same period one year ago. According to Meacham, "The cost reduction plan initiated in December is in place; however, we anticipate a one time expense of approximately $120,000 associated with the Ames acquisition activities which expired on Jan. 3." Atrix International is a worldwide 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, custom tool kits as well as a full line of instrumentation and diagnostic products. Atrix has developed and markets its proprietary Office Machine Monitor. Atrix International is traded on NASDAQ under the symbol ATXI. ATRIX INTERNATIONAL, INC. STATEMENT OF OPERATIONS (Unaudited) Three Months Ended Six Months Ended 12/31/91 12/31/90 12/31/91 12/31/90 Net sales $952,033 $942,409 $1,754,116 $2,100,970 Cost of sales 638,760 643,947 1,173,228 1,410,942 Gross profit 313,273 298,462 580,888 690,028 Selling, general and administrative expenses 418,794 429,875 867,887 819,985 Loss from operations (105,521) (131,413) (286,999) (129,957) Interest expense, net 23,744 9,582 49,610 36,533 Net loss $(129,265) $(140,995) $(336,609) $(166,490) Net loss per share $(.03) $(.04) $(.08) $(.07) Weighted average number of common stock equivalents 4,132,540 3,272,546 4,132,540 2,417,560 -0- 2/18/92 /CONTACT: Tim Hanson of Atrix International, 612-894-6154/ (ATXI) CO: Atrix International, Inc. ST: Minnesota IN: CPR SU: ERN
DS -- MN006 -- 9837 02/18/92 10:28 EST
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|Date:||Feb 18, 1992|
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