Printer Friendly

DCX ANNOUNCES SECOND QUARTER RESULTS; PLANS ACQUISITION

 FRANKTOWN, Colo., May 17 /PRNewswire/ -- DCX, Inc. (NASDAQ: DCXI) today announced a second quarter loss of $219,980, or $.06 per common share (3.2 million shares outstanding), which is somewhat improved over the first quarter net loss of $.08 per share. The earnings are down from the same period of the prior year for which the company reported a net loss of $98,901 ($.04 per share).
 Company Chief Financial Officer, Fred Beisser, attributed the loss to work stoppages ordered by the company's major customer because of uncertainties concerning the defense budget. The work stoppages, which are being resolved through reinstatement of work and placement of new orders, caused cost of sales to exceed normal percentages.
 Beisser also reported the company's cash position has improved markedly as a result of partial payments by the government on its terminated contract settlement proposals. According to Beisser, the company has received over 24 percent of its proposed $5.3 million settlement. The final settlement amount will be determined in negotiations expected in early summer. A decision on the third terminated contract is anticipated very soon, Beisser also indicated.
 The company also reported that it has begun to actively evaluate specific opportunities and acquisition candidates which could result in increased commercial sales and complement the company's existing core business.
 DCX, Inc. is an engineering designer, developer, and custom manufacturer of quality wire harnesses, cable assemblies, and electro- mechanical devices for aerospace, defense and industrial applications where high reliability is required. The company has assets of $6.6 million; shareholder's equity of $3,713,616 yields a book value of $1.15 per share.
 DCX, INC.
 Six Months Second Qtr. Six Months Second Qtr.
 1993 1993 1992 1992
 Revenue $353,410 $219,980 $910,365 $336,458
 Gross profit (31,180) 6,604 254,013 72,228
 Net loss contg
 operations (436,875) (173,724) (47,921) (98,901)
 Net income contg
 opns/sh ($.14) ($.06) ($.02) ($.04)
 Net loss (436,875) (173,724) (47,921) (98,901)
 Net loss/share ($.14) ($.06) ($.02) ($.04)
 -0- 5/17/93
 /CONTACT: Fred Beisser, chief financial officer of DCX, Inc., 303-688-6070/
 (DCXI)


CO: DCX, Inc. ST: Colorado IN: ARO SU: ERN

TM -- NY009 -- 9012 05/17/93 08:30 EDT
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:May 17, 1993
Words:374
Previous Article:SUPREMA SPECIALTIES, INC. ANNOUNCES SALES AND EARNINGS FOR THE THIRD QUARTER AND NINE MONTHS
Next Article:IDB COMMUNICATIONS ANNOUNCES OPERATING AGREEMENT FOR INTERNATIONAL TELEPHONE SERVICE WITH ISRAEL
Topics:


Related Articles
DCX INC. REPORTS FOURTH QUARTER AND ANNUAL EARNINGS
DCX INC. FIRST QUARTER EARNINGS DOWN
DCX ANNOUNCES THIRD QUARTER EARNINGS
DCX REPORTS IMPROVED SECOND QUARTER AND SIX-MONTH RESULTS
DCX REPORTS 56 PERCENT RISE IN FIRST-QUARTER REVENUE; LOSS PRIMARILY ATTRIBUTABLE TO ENTRY INTO GIS MARKET
DCX INC. AGAIN POSTS REVENUE INCREASE OVER PRIOR YEAR
DCX'S THIRD QUARTER SALES MORE THAN DOUBLE
New DCX CEO Moves to Cut Expenses
DCX Reports First-Quarter Loss of 4 Cents a Share
DCX Reports Second-Quarter Operating Profit

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