COMTREX SYSTEMS REPORTS RESULTS
MOORESTOWN, N.J., Nov. 1 /PRNewswire/ -- Comtrex Systems Corporation (NASDAQ: COMX) today reported increases in net income for both its fiscal second quarter and the six-month period ended Sept. 30, 1993. Quarterly net income of $154,729, or $.05 per share, compared with $120,099, or $.04 per share, while six-month period net income of $215,273, or $.07 per share, compared with $150,727, or $.05 per share, for the prior year periods. Net sales for the quarter rose to $1,506,806, compared to net sales of $1,448,594, for the prior year's second quarter. The company indicated that volume shipments of its new touch-screen entry terminal began on schedule in August, and that initial shipments had also been made to new distributors in Austria and Switzerland. Comtrex President and CEO Jeffrey C. Rice commented, "We are extremely pleased by the strong initial acceptance of our new products. The continued growth in our international distribution presence and the increased level of sales activity with our NCR software product offering are encouraging signs for the future. We remain optimistic that fiscal 1994 will show a continuation of the trends established in the past two years at Comtrex, growth in both sales and net income." Comtrex Systems Corporation is a developer and manufacturer of point-of-sale (POS) electronic information systems, related peripherals and software, primarily for the restaurant and quick service food industries. Comtrex products are marketed in the United States with the Sharp brand name, under the terms of an exclusive OEM Agreement, which calls for minimum yearly purchases by Sharp of 2,400 terminals, through February of 1995. In addition to its OEM sales relationship with Sharp Electronics, Comtrex is the sole authorized systems vendor of point-of-sale/cash register equipment to Dunkin' Donuts. Comtrex is also a Solutions Partner of NCR Corporation, and sells software in conjunction with NCR open architecture terminals. COMTREX SYSTEMS CORPORATION Quarter ended Sept. 30 1993 1992 Net sales $1,506,806 $1,448,594 Income, continuing operations 92,837 62,311 Income, discontinued operations --- 9,749 Extraordinary credit 61,892 (A) 48,039 (A) Net income 154,729 120,099 Average shares outstanding 3,062,522 3,037,522 Per share: Continuing operations $.03 $.02 Discontinued operations --- .00 Extraordinary credit .02 .02 Net income .05 .04 Six Months ended Sept. 30 1993 1992 Net sales $2,650,545 $2,730,714 Income, continuing operations 129,164 132,672 Loss, discontinued operations --- (42,235) Extraordinary credit 86,119 (A) 60,290 (A) Net income 215,273 150,727 Average shares outstanding 3,062,522 3,037,522 Per share: Continuing operations $.04 $.04 Discontinued operations --- (.01) Extraordinary credit .03 .02 Net income .07 .05 (A) Tax benefit from tax loss carryforward /delval/ -0- 11/1/93 /CONTACT: Jeffrey C. Rice, president of Comtrex Systems Corporation, 609-778-0090/ (COMX)
CO: Comtrex Systems Corporation ST: New Jersey IN: CPR SU: ?
JM-MP -- PH003 -- 9200 11/01/93 13:36 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 1, 1993|
|Previous Article:||MORTON INTERNATIONAL AWARDED MAJOR AIRBAG CONTRACT BY VOLKSWAGEN|
|Next Article:||ECONOMIC DEVELOPMENT COUNCIL: WORKSHOP ON MANAGEMENT AND OWNERSHIP SUCCESSION IN FAMILY OWNED BUSINESSES|