ATRIX INTERNATIONAL ANNOUNCES THIRD QUARTER RESULTS
ATRIX INTERNATIONAL ANNOUNCES THIRD QUARTER RESULTS MINNEAPOLIS, May 21 /PRNewswire/ -- Atrix International, Inc.
(NASDAQ: ATXI), today reported its results of operations for the third quarter ended March 31, 1992. Atrix President and CEO Clifford B. Meacham said, "The order backlog, which is at an all-time high, 33 percent ahead of last quarter, now exceeds $800,000. Also, all of the cost reductions initiated in December are in full force."
For the three months ended March 31, 1992, Atrix reported net sales of $976,750 compared with net sales of $1,117,616 for the same period ended March 31, 1991. The company reported a net loss of $396,803, or $.09 per share, for the three months ended March 31, 1992. This compares with a net loss of $51,323, or $.01 per share, for the same period one year ago. For the nine months ended March 31, 1992, net sales were $2,730,865 compared to net sales of $3,191,943 for the same period March 31, 1991. The company reported a net loss of $733,412, or $.17 per share, for the first nine months of fiscal 1992. This compares to a net loss of $217,813, or $.07 per share, for the same period one year ago. Third quarter expenses, for the 1992 period, included one-time costs of approximately $100,000, associated with the cost reduction program and $120,000, in costs associated with the terminated acquisition of Ames Supply. "During the last few months, we have taken a number of aggressive steps to increase sales and reduce expenses. Current demand for our vacuum products is very strong," concluded Meacham. Atrix International, Inc. is a worldwide supplier of value-added services supporting field service organizations in the computer, office equipment and communication industries. The company is a provider of toner cleaning systems that are environmentally safe, user friendly and statically controlled to the service industries. In addition, the company develops application-specific telephone-based telemetry systems to targeted industries. Atrix International is traded on NASDAQ under the symbol ATXI. ATRIX INTERNATIONAL, INC. STATEMENT OF OPERATIONS (Unaudited) Three Months Ended Nine Months Ended 3/31/92 3/31/91 3/31/92 3/31/91 Net sales $976,750 $1,117,616 $2,730,865 $3,191,943 Cost of sales 719,233 738,962 1,892,460 2,127,060 Gross profit 257,517 378,654 838,405 1,064,883 Selling, general and administrative expenses 512,727 421,700 1,380,614 1,241,716 Loss from operations (255,210) (43,046) (542,209) (176,833) Ames Supply acquisition costs 120,000 0 120,000 0 Interest expense, net 21,593 8,277 71,203 40,980 Net loss $(396,803) $(51,323) $(733,412) $(217,813) Net loss per share $(.09) $(.01) $(.17) $(.07) Weighted average number of common stock equivalents 4,381,734 3,899,207 4,215,001 2,904,233 -0- 5/21/92 /CONTACT: Tim Hanson of Atrix, 612-894-6154/ (ATXI) CO: Atrix International. Inc. ST: Minnesota IN: CPR SU: ERN
KH -- MN014 -- 2961 05/21/92 15:02 EDT
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|Date:||May 21, 1992|
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