Printer Friendly

CUSTOMEDIX REPORTS FISCAL FINANCIAL RESULTS FOR ITS FIRST QUARTER OF FISCAL 1993

 CUSTOMEDIX REPORTS FISCAL FINANCIAL RESULTS
 FOR ITS FIRST QUARTER OF FISCAL 1993
 OLDWICK, N.J., Nov. 6 /PRNewswire/ -- Customedix Corporation (AMEX: CUS; Boston Stock Exchange: CUSB), a health care products company, today released the company's operating results for the first quarter of its 1993 first year.
 For the quarter ended Sept. 30, 1992, Customedix generated net income of $178,586, or 5 cents per share, versus a net loss of $172,207, or 5 cents per share, for the quarter ended Sept. 30, 1991. The loss for the quarter ended Sept. 30, 1991, included a loss of $47,549 on the discontinued operation related to Automatic Injection Molding, Inc. which was discontinued in fiscal 1992. Sales from continuing operations for the quarter were $9,202,714 versus $8,230,421 for the quarter ended Sept. 30, 1991, an increase of 11.8 percent.
 CUSTOMEDIX CORPORATION
 Condensed Consolidated Statements of Operations
 Quarter ended Sept. 30: 1992 1991
 Sales $9,202,714 $ 8,230,421
 Inc. (loss) from cont. opers. bef.
 income taxes 242,336 (97,158)
 Income taxes(A) 63,750 27,500
 Income (loss) from cont. operations 178,586 (124,658)
 Loss on discont. operation (C) -- (47,549)
 Net income (loss) 178,586 (172,207)
 Income (loss) per share from cont. opers. $.05 $(.04)
 Net income (loss) per share $.05 $(.05)
 Weighted average shares outstanding (B) 3,723,300 3,264,600
 Condensed Consolidated Balance Sheet 9/30/92 6/30/92
 Assets
 Cash & cash equivalents $ 1,033,850 $ 745,457
 Receivables 5,449,152 5,863,934
 Inventory 5,595,110 5,526,166
 Assets of discontinued operation 13,010 62,929
 Other 266,444 230,535
 Total current assets 12,357,566 12,429,021
 Property and equipment, net 2,894,723 2,958,500
 Other 6,650,769 6,732,726
 Total assets 21,903,058 22,120,247
 Liabilities
 Payables and accrued expenses 3,561,226 3,341,785
 Accrued expenses for disposal of oper. 552,450 602,320
 Current maturities of long-term debt
 and capital lease obligations 531,601 737,110
 Total current liabilities 4,645,277 4,681,215
 Long-term debt & capital lease
 obligations 8,765,461 9,050,162
 Total liabilities 13,410,738 13,731,377
 Stockholders' equity:
 Common stock & additional paid-in
 capital 27,425,848 27,500,986
 Accumulated deficit (18,933,528) (19,112,116)
 Total stockholders' equity 8,492,320 8,388,870
 Total liabilities & stockholders'
 equity 21,903,058 22,120,247
 (A) -- Taxes on income represent certain minimum federal and state income taxes and are less than the statutory rate due primarily to the availability of net loss carryforwards.
 (B) -- On Nov. 4, 1991, the shareholders voted to decrease the number of shares outstanding by effecting a one-for-ten reverse split of common stock. This action was given retroactive effect for all periods presented.
 (C) -- The company's subsidiary, Automatic Injection Molding, Inc., was discontinued as of Dec. 31, 1991, and the result of its operations have been excluded from the company's continuing operations for the periods presented.
 -0- 11/6/92
 /CONTACT: Joe MacDougald, director of investor relations, 203-265-7397, or Andrew A. Miller, CFO, 908-439-2226, both for Customedix/
 (CUS) CO: Customedix Corporation ST: New Jersey IN: HEA SU: ERN


TS-PS -- NY009 -- 8047 11/06/92 08:27 EST
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:Nov 6, 1992
Words:550
Previous Article:CROWNAMERICA REPORTS RESULTS
Next Article:CROP GENETICS REPORTS IMPROVED CONTROL WITH CORN BIOINSECTICIDE
Topics:


Related Articles
CUSTOMEDIX REPORTS FIRST QUARTER FINANCIAL RESULTS
CUSTOMEDIX SUBSIDIARY'S LARGEST CUSTOMER TO CEASE ORDERS
CUSTOMEDIX DISCONTINUES OPERATION OF AUTOMATIC INJECTION MOLDING
CUSTOMEDIX REPORTS SECOND QUARTER FINANCIAL RESULTS
CUSTOMEDIX REPORTS RESULTS
CUSTOMEDIX CORP. REPORTS THIRD QUARTER AND NINE MONTH FINANCIAL RESULTS FOR ITS 1993 FISCAL YEAR
CUSTOMEDIX CORP. REPORTS FISCAL 1993 FINANCIAL RESULTS FOR THE FISCAL YEAR AND THE FOURTH QUARTER
CUSTOMEDIX CORP. REPORTS FINANCIAL RESULTS FOR ITS FIRST QUARTER OF FISCAL 1994
NUTRAMAX REPORTS FIRST QUARTER RESULTS
CUSTOMEDIX CORP. REPORTS FINANCIAL RESULTS FOR ITS THIRD QUARTER AND NINE MONTHS OF FISCAL 1994

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