DAEDALUS ANNOUNCES FIRST-QUARTER RESULTS
DAEDALUS ANNOUNCES FIRST-QUARTER RESULTS ANN ARBOR, Mich., Dec. 6 /PRNewswire/ -- Daedalus Enterprises, Inc.
(NASDAQ: DDEI) announced today earnings of $25,000, $.04 per share, on revenue of $1,051,000 for the first quarter ended Oct. 31, 1991. These results compare to a loss of $221,000, $.39 per share, on revenue of $471,000 for the same quarter of the previous fiscal year. The profit in the first quarter of fiscal 1992 is primarily due to the increase in international standard product revenue and a decrease in research and development expense as compared to the same quarter of the prior year.
The company's backlog at Oct. 31, 1991, was a record level of approximately $4,290,000 compared to approximately $1,934,000 one year earlier. The majority of the Oct. 31, 1991, backlog is expected to be filled this fiscal year. The company expects to be profitable for fiscal 1992 with significantly increased revenue as compared to fiscal 1991. The company also expects the backlog at the end of the second quarter to be significantly higher than that of Oct. 31, 1991, due to the expected receipt of a major product development contract. Daedalus Enterprises, Inc. is a leading developer and manufacturer of remote sensing instruments used for environmental measurement and monitoring. The company's stock is traded in the over-the-counter market under the symbol "DDEI." -0- 12/6/91 /CONTACT: Vincent J. Killewald or Thomas R. Ory of Daedalus Enterprises, Inc., 313-769-5649/ (DDEI) CO: Daedalus Enterprises, Inc. ST: Michigan IN: SU: ERN
JG -- DE006 -- 0028 12/06/91 10:25 EST
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|Date:||Dec 6, 1991|
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