Printer Friendly

DOTRONIX ANNOUNCES THIRD QUARTER PROFITS AND FAA/MAGNAVOX ORDER

 DOTRONIX ANNOUNCES THIRD QUARTER PROFITS AND FAA/MAGNAVOX ORDER
 NEW BRIGHTON, Minn., May 5 /PRNewswire/ -- Dotronix, Inc. (NASDAQ: DOTX) today announced results for the third quarter ended March 31, 1992.
 Earnings for the third quarter were $126,380 or $.03 per share compared to $120,432 or $.04 per share for the same quarter last year. Comparable revenues were $5,336,833, versus $5,087,874 last year.
 Dotronix also announced that it has signed a basic ordering agreement with Magnavox Electronic Systems Company, Fort Wayne, Ind., for a high-resolution color display to be used by the FAA in air traffic control. This program is scheduled to total more than 13,300 displays with a value of approximately $11.3 million over a three year period. Purchases by Magnavox are to be made by firm releases under the basic ordering agreement. Deliveries of these units are to begin in August 1992 and culminate several years of cooperative development among the FAA, Harris Corporation, Magnavox and Dotronix.
 Dotronix, Inc. designs and manufactures DOT-X displays for a variety of electronic imaging applications including desk-top publishing, airline flight information, medical imaging/diagnostics, test and measurement instruments, CAD/CAM/CAE and graphics, industrial process control, banks/brokerage terminals, broadcast television and video production, as well as closed-circuit television security systems. Dotronix, Inc. has facilities in Minnesota and Wisconsin.
 DOTRONIX, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENT OF OPERATIONS DATA
 Three Months Ended Nine Months Ended
 3/31/92 3/31/91 3/31/92 3/31/91
 Revenues $5,336,833 $5,087,874 $15,936,479 $15,387,821
 Income (loss) before
 income taxes and
 extraordinary item 126,380 120,432 459,630 (2,946,526)
 Charge in lieu of
 tax (tax credit) 37,914 --- 137,889 (35,000)
 Income (loss) before
 extraordinary item 88,466 120,432 321,741 (2,911,526)
 Extraordinary item
 - tax loss
 carryforward 37,914 --- 137,889 ---
 Net income (loss) $126,380 $120,432 $459,630 $(2,911,526)
 Income (loss) per common
 and common equivalent
 share, before
 extraordinary item $.02 $.04 $.09 $(.92)
 Extraordinary item .01 --- .04 ---
 Net income (loss) $.03 $.04 $.13 $(.92)
 Average number of common
 and common equivalent
 shares 4,172,893 3,166,696 3,648,112 3,166,696
 BALANCE SHEET DATA
 (Dollars in thousands)
 3/31/92 6/30/91
 Cash and equivalents $195 $228
 Current assets 11,149 11,827
 Total assets 14,882 16,087
 Current liabilities 5,531 7,531
 Long-term obligations 1,390 1,799
 Stockholders' equity 7,961 6,759
 -0- 5/5/92
 /CONTACT: Warren White of Dotronix, 612-633-1742/
 (DOTX) CO: Dotronix, Inc. ST: Minnesota IN: CPR SU: ERN


KH -- MN014 -- 6724 05/05/92 16:11 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 5, 1992
Words:451
Previous Article:MARTEN TRANSPORT REPORTS FIRST-QUARTER GAINS
Next Article:TRADE UNIONISTS TO PROTEST MALAWI REPRESSION


Related Articles
DOTRONIX ANNOUNCES SECOND QUARTER RESULTS
DOTRONIX INC. REPORTS RESULTS
DOTRONIX ANNOUNCES THIRD QUARTER PROFITS, TEMPORARY LAYOFFS
DOTRONIX ANNOUNCES SECOND QUARTER RESULTS
DOTRONIX ANNOUNCES THIRD QUARTER RESULTS
DOTRONIX ANNOUNCES RESULTS
DOTRONIX ANNOUNCES AGREEMENT
DOTRONIX ANNOUNCES SECOND QUARTER RESULTS
DOTRONIX ANNOUNCES RESULTS

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