DAEDALUS ANNOUNCES THIRD-QUARTER RESULTS
ANN ARBOR, Mich., June 14 /PRNewswire/ -- Daedalus Enterprises, Inc. (NASDAQ: DDEI) today announced earnings of $212,000, $.36 per share, on revenue of approximately $1,723,000 for the third quarter of fiscal year 1993. This is compared to earnings of $130,000, $.22 per share, on revenue of $1,452,000 for the comparable period of the preceding fiscal year. The earnings for the nine months ended April 30, 1993, were $496,000, $.84 per share, on revenue of approximately $5,244,000 as compared to earnings of $181,000, $.28 per share, on revenue of $3,532,000 for the comparable period of the preceding fiscal year. The improvement in earnings is primarily attributable to the increase in sales for the nine months ended April 30, 1993, as compared to the same period of the prior fiscal year. The sales increase was primarily due to the large backlog with which the company began the fiscal year. Backlog as of April 30, 1993, was $2.2 million as compared to $7.3 million one year earlier. A large portion of the April 30, 1993, backlog is expected to be filled in fiscal 1993. 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 under the symbol "DDEI."
-0- 6/14/93 /CONTACT: Vincent J. Killewald, vice president-Finance, or Thomas R. Ory, president, Daedalus Enterprises, Inc., 313-769-5649/ (DDEI)
CO: Daedalus Enterprises, Inc. ST: Michigan IN: ENV SU: ERN
JG -- DE029 -- 1687 06/14/93 13:23 EDT
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|Date:||Jun 14, 1993|
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