Printer Friendly

CONCEPTS DIRECT ANNOUNCES QUARTERLY RESULTS

 LONGMONT, Colo., Nov. 2 /PRNewswire/ -- Concepts Direct, Inc. (NASDAQ: CDIR), announced today its results for the fiscal quarter ended Sept. 30, 1993.
 Prior to Sept. 30, 1992, the company was the consumer products division of Wiland Services, Inc. On that date, Wiland Services was acquired by Neodata Corporation and the consumer products division was spun off to the former Wiland Services shareholders on the basis of one share of the company's common stock for every four shares of Wiland Services common stock held immediately prior to the acquisition. References to financial results of 1992 refer to the results of the consumer products division of Wiland Services for periods prior to Sept. 30, 1992.
 Sales for the quarter ended Sept. 30, 1993 were $3,826,000 a 32 percent decrease from sales of $5,627,000 for the same period in 1992. The company posted a net loss of $334,000 or (32 cents) per share during the third quarter of 1993, compared to a net loss from continuing operations of $1,381,000 or $(1.53) per share for the same period of 1992.
 For the nine months ended Sept. 30, 1993, sales were $11,136,000 a 28 percent decrease from sales of $15,476,000 for the same period in 1992. The company reported a net loss of $2,794,000 or $(2.85) per share for the nine month period ended Sept. 30, 1993 compared to a net loss of $2,887,000 or $(3.21) per share for the same period in 1992.
 For accounting purposes, the direct marketing division of Wiland Services is treated as a discontinued operation. The company had income from the discontinued operations of $21,818,000 or $24.09 per share for the third quarter of 1992 and $23,598,000 or $26.27 per share for the first nine months of 1992.
 Concepts Direct sells a diverse line of personalized paper products and various merchandise (including gift items, home decorative items and apparel), directly to consumers primarily through mail order catalogs. The company sells its merchandise under several trade names, primarily "Colorful Images."
 Headquartered in Longmont, Colo., the company houses all of its operations in Longmont and sells its products primarily in the United States.
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Net sales $3,825,855 $5,627,394 $11,136,238 $15,475,675
 Loss from cont.
 opers. before
 inc. taxes (333,656) (2,153,466) (3,050,775) (4,507,086)
 Loss from cont.
 operations (333,656) (1,381,466) (2,793,775) (2,887,086)
 Inc. from discont.
 operations --- 21,818,409 --- 23,598,091
 Net income (loss) $(333,656) $20,436,943 $(2,793,775) $20,711,005
 Net income (loss)
 per com. share:
 Cont. opers. (32 cents) $(1.53) $(2.85) $(3.21)
 Discont. opers. $0.00 $24.09 $0.00 $26.27
 Total net income
 (loss) per
 common share (32 cents) $22.56 $(2.85) $23.06
 -0- 11/2/93
 /CONTACT: Frank Marcus, chief financial officer of Concepts Direct, 303-772-9171/
 (CDIR)


CO: Concepts Direct, Inc.; Neodata Corporation; Wiland Services, Inc. ST: Colorado IN: PAP SU: ERN

DJ-CM -- NE007 -- 3028 11/02/93 11:31 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 2, 1993
Words:540
Previous Article:ROBERT E. RELYEA NAMED METRO-GOLDWYN-MAYER EXECUTIVE VICE PRESIDENT-PRODUCTION FOR MGM AND UA PICTURES
Next Article:UNIQUEST ANNOUNCES FISCAL 1993 RESULTS AND UNVEILS RESTRUCTURING; COMMENTS ON FIRST QUARTER
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters