DAEDALUS ANNOUNCES ANNUAL RESULTS
DAEDALUS ANNOUNCES ANNUAL RESULTS ANN ARBOR, Mich., Oct. 8 /PRNewswire/ -- Daedalus Enterprises, Inc.
(NASDAQ: DDEI) announced today earnings of $428,000, $.70 per share, on record revenue of $6,001,000 for the fiscal year ended July 31, 1992. This is compared to a loss of $235,000, $.41 per share, on revenue of $2,768,000 for the preceding fiscal year. The earnings for fiscal 1992 are primarily attributable to contracts received by the company during the fiscal year which totaled more than $10 million.
Backlog at July 31, 1992, was approximately $5,726,000, as compared to $1,300,000 one year earlier. A substantial portion of this backlog consists of a recently awarded international product development contract that will require 18 months for completion. The company currently forecasts a profit for the first quarter of fiscal 1993, which ends on Oct. 31, 1992. Daedalus Enterprises, Inc. is a leading developer and manufacturer of remote sensing instruments used for environmental measurements and monitoring. The company's stock is traded in the over-the-counter market. -0- 10/8/92 /CONTACT: Vincent J. Killewald, vice president-finance, or Thomas R. Ory, president, of Daedalus Enterprises, 313-769-5649/ (DDEI) CO: Daedalus Enterprises, Inc. ST: Michigan IN: SU: ERN
JG -- DE016 -- 7886 10/08/92 13:03 EDT
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|Date:||Oct 8, 1992|
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