Printer Friendly

CONVEX COMPUTER RELEASES PRELIMINARY SECOND QUARTER RESULTS

 CONVEX COMPUTER RELEASES PRELIMINARY SECOND QUARTER RESULTS
 RICHARDSON, Texas, July 1 /PRNewswire/ -- Convex Computer Corporation (NYSE: CNX) reported today that earnings for the current quarter ending June 30, 1992, will fall below current Wall Street estimates.
 Convex expects to report record corporate revenue for the second quarter, moderately above the previous record of $55.6 million, but less than $60 million. Earnings are expected to continue to be positive, as in the first quarter, but will not reach the consensus of approximately 7 to 8 cents per share currently projected by analysts.
 The company indicated that business conditions remain challenging and competitive. Gross margins remain under pressure, and general economic conditions continue to cause order delays. Second quarter performance, therefore, is not as favorable as expected, but will be considerably improved over year-earlier performance when Convex reported $50 million in revenue and a 6 cents per share loss. Convex plans to formally release financial results for the period on July 27.
 Convex Computer Corporation, a leading supplier of air-cooled supercomputers worldwide, was founded in 1982 to design, manufacture, market, and service high performance systems. The company markets its products primarily to scientific, engineering, and technical users for a wide variety of applications in areas such as seismic processing, computational chemistry, computer-aided engineering, image processing, aerospace simulation, and molecular biology. The systems are sold and serviced through direct sales and an extensive distribution network.
 -0- 7/1/92
 /CONTACT: Bill Cool, 214-497-4956, or Donna Burke, 214-497-4230, both of Convex/
 (CNX) CO: Convex Computer Corporation ST: Texas IN: CPR SU: ERP


GK -- NY001 -- 5440 07/01/92 07:10 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:Jul 1, 1992
Words:268
Previous Article:UNICODE CONSORTIUM ANNOUNCES MULTILINGUAL STANDARDS MERGER; UNIFORM CHARACTER STANDARD SIMPLIFIES INTERNATIONALIZATION
Next Article:WESTERN GAS RESOURCES ANNOUNCES RETIREMENT OF STONEHOCKER
Topics:


Related Articles
CONVEX COMPUTER ANNOUNCES FOURTH QUARTER RESULTS
CONVEX COMPUTER ANNOUNCES FOURTH QUARTER RESULTS
CONVEX COMPUTER CORPORATION ANNOUNCES SECOND QUARTER RESULTS
CONVEX COMPUTER CORPORATION ANNOUNCES THIRD QUARTER RESULTS
CONVEX COMPUTER CORPORATION ANNOUNCES SECOND QUARTER RESULTS
CONVEX COMPUTER CORPORATION RELEASES FIRST QUARTER RESULTS
CONVEX COMPUTER CORPORATION RELEASES FOURTH QUARTER RESULTS
CONVEX COMPUTER CORPORATION RELEASES PRELIMINARY FIRST QUARTER RESULTS
CONVEX COMPUTER CORPORATION RELEASES SECOND QUARTER RESULTS
CONVEX COMPUTER CORPORATION RELEASES THIRD QUARTER RESULTS

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