EDMARK ANNOUNCES RECORD SALES, EARNINGS
EDMARK ANNOUNCES RECORD SALES, EARNINGS REDMOND, Wash., Aug. 17 /PRNewswire/ -- Edmark Corp.
(NASDAQ: EDMK) today announced record sales and earnings for the fiscal year ended June 30, 1992.
Sales for the year totalled $5,962,526, up 38 percent from sales of $4,317,692 for the year ended June 30, 1991. Net earnings were $364,290, up 37 percent from net earnings of $265,916 in the prior year. Earnings per share were 16 cents, compared to 15 cents in fiscal year 1991. Per-share results were impacted by an increase in the number of outstanding shares from 1,825,960 to 2,320,772. For the fourth quarter ended June 30, 1992, Edmark's sales were up 39 percent to $1,982,792. Net earnings were $143,339, up 44 percent from the prior year. Per-share earnings were 6 cents for both quarters. "Fiscal Year 1992 was an exciting year for Edmark," reported Sally Narodick, chief executive officer. "Our new products for the education market have been well received, and we have made great progress in preparing for our entry into the early childhood software retail market. We also moved into new and larger corporate offices and greatly strengthened and expanded our development and management team." The company recently completed the sale of 381,000 shares of common stock at $5.25 per share. That sale was consummated in July 1992 after the close of the company's fiscal year. "The new capital gives us the ability to continue to build on the solid foundation that we have laid as part of our strategic plan. The next few quarters will be interesting ones for Edmark. The seasonality of our business is expected to change as a result of the retail market entry, and the first few quarters will necessarily reflect a significant investment of capital and energy to launch our products," reported Narodick. Edmark Corp. publishes print and software materials for the early childhood, special education and remedial market segments. It also manufactures and distributes the TouchWindow, a low-cost touch screen input device used in education. Copies of Edmark's catalog and annual report are available from Edmark Corp., P.O. Box 3218, Redmond, WA 98073-3218. EDMARK CORP. Key Financial Items Three Months Year Ended June 30: 1992 1991 1992 1991 Sales $1,982,792 $1,424,322 $5,962,526 $4,317,692 Net earnings 143,339 99,277 364,290 265,916 Net earnings per share 0.06 0.06 0.16 0.15 At June 30: 1992 1991 Current assets 2,776,186 1,877,969 Total assets 3,826,372 2,211,335 Current liabilities 723,583 953,469 Stockholders' equity 3,102,789 1,257,866 Current ratio 3.83 to 1 1.97 to 1 -0- 8/17/92 /CONTACT: Fred G. McCulloch of Edmark, 206-861-8200/ (EDMK) CO: Edmark Corp. ST: Washington IN: PUB SU: ERN
SC-JH -- SE007 -- 0722 08/17/92 18:32 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Aug 17, 1992|
|Previous Article:||MAGNETEK ANNOUNCES FISCAL 1992 RESULTS|
|Next Article:||QUAKER STATE AND CASTROL SIGN COURT ORDER AND STIPULATION THAT CASTROL AD HEADLINE WILL NO LONGER BE PUBLISHED|