Printer Friendly

BI ANNOUNCES RECORD ANNUAL REVENUE; RECORD FOURTH QUARTER REVENUE

 BI ANNOUNCES RECORD ANNUAL REVENUE;
 RECORD FOURTH QUARTER REVENUE
 BOULDER, Colo., Aug. 24 /PRNewswire/ -- BI Inc., (NASDAQ/NMS: BIAC), the industry leader in electronically monitored systems for corrections, today announced record annual revenue of $17,210,000, and net income of $118,000 for the fiscal year ended June 30, 1992. This compares with total revenue of $14,719,000 and net income of $861,000 one year ago. Earnings per share were 2 cents on 6,267,000 weighted average and equivalent shares outstanding, compared to 15 cents per share on 5,566,000 weighted average and equivalent shares outstanding for the prior year.
 For the fourth quarter ended June 30, 1992, revenue was $6,424,000, compared to $3,635,000 reported for the fourth quarter last year. Net income for the like period totalled $483,000 or 7 cents per share on 7,126,000 weighted average and equivalent shares outstanding, compared to $163,000 or 3 cents per share on 5,980,000 weighted average and equivalent shares outstanding for the fourth quarter last year. Guardian, BI's March 1992 acquisition, contributed $2 million of the fourth quarter revenue.
 David J. Hunter, BI's president and chief executive officer, said, "Net income for the fourth quarter, though not a record, was heartening especially since the quarter included a number of redundant expenses caused by the acquisition of Guardian. Since these expenses have now been eliminated, I believe the prospects for BI's profitability should improve going forward."
 The company further stated that fourth quarter revenue was generated from over 520 account sources, 423 of which were recurring in nature. "No single customer accounted for a substantial portion of our fourth quarter revenue, which seems to point to an increasing predictability and stability of our business," Hunter stated.
 He concluded by indicating that the new year's first quarter was thus far a continuation of the fourth quarter's progress, but again stated that the business should not be viewed as one that provides a neat, quarterly progression.
 BI holds approximately 70 percent of the U.S. Corrections market for electronically monitored home detention products and services. The company, at June 30, 1992, had shipped over 28,000 home arrest units to approximately 700 accounts worldwide.
 BI INC.
 Consolidated Earnings for the Periods Ended
 June 30, 1992 and June 30, 1991
 Fourth Quarter Fiscal Year
 1992 1991 1992 1991
 Total revenue $6,424,000 $3,635,000 $17,210,000 $14,719,000
 Net income $483,000 $163,000 $118,000 $861,000
 Income per share $.07 $.03 $.02 $.15
 Weighted average
 shares
 Equivalent shares
 outstanding at
 end of period 7,126,000 5,980,000 6,267,000 5,566,000
 -0- 8/24/92
 /CONTACT: Joanna Manley of BI, 303-530-2911/
 (BIAC) CO: BI Inc. ST: Colorado IN: CPR SU: ERN


MC -- DV003 -- 2440 08/24/92 08:31 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 24, 1992
Words:479
Previous Article:PENN CENTRAL DECLARES QUARTERLY DIVIDEND
Next Article:POSSIS MEDICAL FILES INVESTIGATIONAL DEVICE EXEMPTION APPLICATION
Topics:


Related Articles
BI AWARDED ILLINOIS MONITORING CONTRACT
BI REPORTS FIRST QUARTER RESULTS; RECORD REVENUE AND RECORD EARNINGS
BI MONITORING AWARDED OKLAHOMA DEPARTMENT OF CORRECTIONS CONTRACT
BI INCORPORATED ANNOUNCES RECORD REVENUE, RECORD EARNINGS
BI ANNOUNCES PRELIMINARY FOURTH QUARTER RESULTS
BI ANNOUNCES PRELIMINARY FOURTH QUARTER RESULTS
BI INCORPORATED REPORTS SECOND QUARTER, RECORD REVENUE
BI Incorporated Reports Record, Fourth Quarter And Year-End Results
BI Incorporated Signs Contracts Valued at $2.6 Million
BI Incorporated Announces Anticipated Record Fiscal 1999 Results.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters