DIGITAL BIOMETRICS ANNOUNCES FIRST QUARTER RESULTS
DIGITAL BIOMETRICS ANNOUNCES FIRST QUARTER RESULTS MINNETONKA, Minn., Feb. 12 /PRNewswire/ -- Digital Biometrics, Inc.
(NASDAQ: DBII), a Minnetonka-based manufacturer of inkless electronic fingerprint systems, today announced operating results for the three- month period ended Dec. 31, 1991.
Sales for the three-month period ended Dec. 31, 1991, were $525,793 compared with $421,537 in the same period a year ago, an increase of 25 percent. Net losses for the three-month period ended Dec. 31, 1991, were $525,364 compared with $327,423 in the same period a year ago. The net loss per common share was $.09 compared with a $.09 loss for the same period a year ago. The per share amounts have been retroactively adjusted to reflect a 3-for-2 stock split effective July 26, 1991. The net loss for the three-month period ended Dec. 31, 1991, includes approximately $220,000 of increased research and development expenses when compared to the prior year. These expenses relate primarily to new product development and the manufacture and delivery of prototype units to potential customers. Jack A. Klingert, president and chief executive officer of Digital Biometrics, said "we believe the company's focus on new product development will complement the market position achieved by the company's TENPRINTER(R) live-scan booking management system. Law enforcement officials at all levels need new and improved technologies to keep pace with the levels of criminal activity and we are pleased to contribute to their efforts." DIGITAL BIOMETRICS RESULTS OF OPERATIONS (Unaudited) Three Months Ended 12/31/91 12/31/90 Sales $525,793 $421,537 Cost of sales 312,775 240,820 Gross margin 213,018 180,717 Selling, general and administrative expenses: Marketing and sales 205,040 71,502 Research and development 298,487 79,644 Depreciation and amortization 23,710 9,102 General and administrative 271,570 332,134 Total expenses 798,807 492,382 Loss from operations (585,789) (311,665) Interest income 64,327 6,613 Interest expense (3,902) (22,371) Net loss $(525,364) $(327,423) Loss per common share and common share equivalents $(.09) $(.09) Weighted average common shares outstanding 5,664,471 3,559,817 -0- 2/12/92 /CONTACT: Donald E. Berg of Digital Biometrics, 612-932-0888. (DBII) CO: Digital Biometrics, Inc. ST: Minnesota IN: SU: ERN :END
DS -- MN003 -- 9115 02/12/92 09:29 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Feb 12, 1992|
|Previous Article:||NSC CORPORATION REPORTS FOURTH QUARTER EARNINGS PER SHARE 40 PERCENT ABOVE FOURTH QUARTER 1990|
|Next Article:||AT&T AND RUSSIAN TELECOMMUNICATIONS COMPANY DALNYA SVIAZ SIGNS AGREEMENT|