Printer Friendly

DATASOUTH COMPUTER CORPORATION ANNOUNCES NET INCOME

 CHARLOTTE, N.C., Feb. 19 /PRNewswire/ -- Today, Datasouth Computer Corporation (NASDAQ-NMS: DSCC) announced net income totaling $606,000 or $.11 per share for the year ended Dec. 31, 1992 compared to a net loss of $173,000 or $.03 per share in 1991. Revenue for 1992 totaled $15.4 million, down 1 percent from 1991.
 For the quarter ended Dec. 31, 1992, the Company recorded net income totaling $48,000 or $.01 per share compared to $230,000 or $.04 per share in the fourth quarter last year. Revenue for the fourth quarter totaled $3.5 million, down 27 percent from the same quarter in 1991.
 Jim Busby, President of Datasouth, commented on the results saying, "Returning to profitability in 1992 was an important step for our Company. Despite flat revenue, we achieved a profit of $606,000 by maintaining control of expenses and improving our gross margins. Increased sales in the areas of major accounts and spare parts helped offset a decline in sales through distribution. To continue improving profitability, however, we must grow our revenue in a rapidly maturing market that is extremely competitive. We plan to achieve this growth by properly balancing our efforts in distribution sales, major account sales and service and supplies sales. These areas, along with ongoing product development and exploration of new opportunities to diversify our business, will be our focus for 1993."
 Datasouth designs, manufactures and markets heavy-duty printers used primarily with multi-user, micro, mini and mainframe computers for heavy-duty, print intensive applications. The Company sells its products worldwide through distributors and value-added resellers, and directly to large volume major accounts.
 DATASOUTH COMPUTER CORPORATION
 Comparative Financial Results
 (in thousands, except per share amounts)
 Quarter Ended Year Ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Revenue $3,466 $4,729 $15,369 $15,495
 Cost of Goods Sold 2,442 3,413 10,830 11,638
 Gross Profit 1,024 1,316 4,539 3,857
 Operating Expenses:
 Research & Development 420 416 1,593 1,589
 Selling, General and
 Administrative 746 829 2,899 3,092
 Total Operating
 Expenses 1,166 1,245 4,492 4,681
 Income (Loss) from
 Operations (142) 71 47 (824)
 Other Income, Net 145 159 590 651
 Income (Loss) Before
 Income Taxes 3 230 637 (173)
 Provision (Credit) for
 Income Taxes (45) -- 31 --
 Net Income (Loss) $ 48 $ 230 $ 606 $ (173)
 Earnings (Loss) per
 Share $ .01 $ .04 $ .11 $ (.03)
 Weighted Average
 Shares Outstanding 5,691 5,691 5,691 5,691
 Comparative Balance Sheets
 (in thousands)
 Dec. 31, Dec. 31,
 1992 1991
 ASSETS
 Current Assets:
 Cash and Cash Equivalents $ 4,258 $ 2,199
 Marketable Securities 6,451 7,369
 Accounts Receivable 1,806 2,250
 Inventory 1,706 2,479
 Other 127 119
 Total Current Assets 14,348 14,416
 Property and Equipment, net 2,125 2,393
 Other Assets 460 3
 Total $16,933 $16,812
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current Liabilities:
 Accounts Payable $ 651 $ 1,007
 Accrued and Other Liabilities 374 503
 Total Current Liabilities 1,025 1,510
 Stockholders' Equity 15,908 15,302
 Total $16,933 $16,812
 -0- 2/19/93
 /CONTACT: Investor Relations, Datasouth Computer Corporation, 704-523-8500 or 1-800-476-2120/
 (DSCC)


CO: Datasouth Computer Corporation ST: North Carolina IN: CPR SU: ERN

CM-MM -- CH009 -- 8516 02/19/93 16:15 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 19, 1993
Words:548
Previous Article:BRENDLE'S INCORPORATED COMPLETES RESTRUCTURING OF MANAGEMENT PERSONNEL
Next Article:LEAD-FREE COMPONENTS PUT PLUMBERS IN THE PINK
Topics:


Related Articles
DATASOUTH COMPUTER CORPORATION ANNOUNCES RESULTS
COMPUTER IDENTICS ANNOUNCES SECOND QUARTER 1992 RESULTS
DATASOUTH COMPUTER CORPORATION ANNOUNCES EARNINGS
DATASOUTH COMPUTER CORPORATION ANNOUNCES RESULTS
COMPUTER NETWORK TECHNOLOGY CORPORATION ANNOUNCES FIRST QUARTER GAINS IN INCOME AND REVENUE
DATASOUTH COMPUTER CORPORATION ANNOUNCES EARNINGS
DATASOUTH COMPUTER CORPORATION
DATASOUTH COMPUTER CORPORATION ANNOUNCES NET LOSS
DATASOUTH COMPUTER CORPORATION ANNOUNCES NET INCOME
Bull Run Corporation Announces 1996 and Fourth Quarter Results

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