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EXIDE ELECTRONICS GROUP, INC. ANNOUNCES RECORD FOURTH QUARTER AND FISCAL 1992 REVENUES

 EXIDE ELECTRONICS GROUP, INC. ANNOUNCES RECORD
 FOURTH QUARTER AND FISCAL 1992 REVENUES
 RALEIGH, N.C., Oct. 22 /PRNewswire/ -- Exide Electronics Group, Inc. (NASDAQ: XUPS), a market leader for power protection products and services, today reported record revenues for the quarter and year ending Sept. 30, 1992.
 Revenues for the quarter ended Sept. 30, 1992, were $64,848,000, up 19 percent from fiscal 1991 fourth quarter revenues of $54,506,000. Net income for the quarter was $2,663,000 compared with 1991 fourth quarter net income of $1,056,000. Primary earnings per share of $.44 represents an increase of 132 percent over the $.19 per share for the fourth quarter of 1991.
 Revenues for the fiscal year ended Sept. 30, 1992, were $213,364,000 compared to $191,559,000 last year, an increase of 11.4 percent. Net income for the fiscal year of $5,035,000 compared to a net loss of $5,958,000 for the corresponding period a year ago. Earnings per share of $.82 for the full year compares with a net loss of $1.10 per share for the corresponding period a year ago.
 The Company's revenue growth in the quarter and the full year was largely attributable to sales of its high-performance large systems and related support services to the federal government, as well as strong acceptance of the Company's Powerware(R) Personal and Powerware(R) Plus products for small systems and workstations. These smaller products did particularly well abroad due to new models designed specifically for the international markets.
 The Company's gross profit margin showed continued improvement during the quarter due to favorable product and channel mix as well as manufacturing efficiencies. Product margins increased to 23.9 percent for the current quarter, up from 19.8 percent in the prior year, primarily because of higher margins on new and cost-reduced products and to the nonrecurrence of certain start-up costs in 1991. Service margins decreased from 44.7 percent in 1991 to 42.6 percent in the current quarter due to increased revenues from international services and government systems implementation services, which have lower gross margins than domestic commercial services, but which benefit overall operating margins due to lower associated operating expenses.
 Full year product margins increased from 17.3 percent for fiscal 1991 to 23.8 percent for fiscal 1992 as a result of improved margins in larger systems, improved product and channel mix, and prior year start- up costs. Service margins decreased from 45.3 percent for fiscal 1991 to 40.7 percent for fiscal 1992 due to increased revenues from international services and government systems implementation services.
 Selling, general and administrative expense increased $895,000, or 8.9 percent, for the fourth quarter of fiscal year 1992, primarily due to higher selling costs related to the higher sales volume. For the year ending Sept. 30, 1992, operating expenses were essentially flat due to stringent cost management by the Company, lower legal expenses, and changes in sales mix.
 Consistent with the Company's goal of maintaining its market leadership in new product introductions, research and development expense increased $624,000 for the quarter, as compared to the same period last year. The higher level of development activity is positioning the company for an aggressive new product introduction schedule in fiscal 1993.
 The combination of increased sales volume and improved gross profit margins resulted in income from operations for the quarter ended Sept. 30, 1992, of $5,027,000, an increase of 204 percent over the same quarter last year. Income from operations for the year ended Sept. 30, 1992, of $11,401,000 compared to a loss from operations of $4,127,000 for fiscal year 1991.
 James A. Risher, President and Chief Executive Officer, attributed the increase in revenues and the significant operating improvement over the prior year to a number of factors. "For the past three years, our strategic focus has been to increase our revenues in the international and federal government channels, as well as to enhance our power protection product offerings for smaller systems such as LANs and workstations. Most of our growth in fiscal 1992 came from these areas and was the result of new products and expanded distribution channels. The Company added 24 new domestic distributors during 1992 and acquired MPL Powerware Systems, Ltd. in England to expand the Company's presence in Europe. Exide was awarded new delivery orders during the year for the FAA modernization program, as well as a five year requirements contract to provide the Navy with various products and services. These accomplishments helped lead to our record revenues and improved gross profit margins during fiscal 1992. At the same time, we have increased our backlog to a record level of $153 million at Sept. 30, 1992, $77 million higher than last year.
 Risher continued by saying, "The Company is planning to introduce several new hardware and software products during fiscal 1993, starting with COMDEX next month. These new products represent lower cost, higher performance solutions targeted for the high-growth small systems markets. Exide Electronics is well-poised to maintain its overall UPS product leadership position. Finally, we significantly improved our financial position in fiscal 1992 with the closing of a new $75 million domestic credit facility, a $15 million private placement of convertible subordinated notes and the issuance of $5.1 million of preferred stock. With a record backlog, exciting new products on the horizon, the enhancement of our capital structure and our litigation matters substantially resolved, we are extremely enthusiastic about our prospects for fiscal 1993."
 Exide Electronics is the largest company in the world dedicated exclusively to developing and manufacturing a full line of power protection systems. Headquartered in Raleigh, N.C., Exide Electronics responds to the power protection needs of a broad range of businesses and institutions worldwide, including many Fortune 1000 companies. Exide Electronics' products are used for financial, medical, industrial, telecommunications, military and aerospace applications -- wherever continuous power is essential to daily oeprations.
 EXIDE ELECTRONICS GROUP, INC.
 CONSOLIDATED STATEMENT OF OPERATIONS
 (in thousands, except per share data)
 (unaudited)
 Quarter Ended Year Ended
 Sept. 30, Sept. 30, Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Revenues
 Products $ 50,309 $ 44,260 $ 163,958 $ 155,217
 Services 14,539 10,246 49,406 36,342
 Total revenues 64,848 54,506 213,364 191,559
 Cost of revenues
 Products 38,278 35,513 124,923 128,331
 Services 8,347 5,664 29,279 19,874
 Total cost of
 revenues 46,625 41,177 154,202 148,205
 Gross profit 18,223 13,329 59,162 43,354
 Selling, general and
 administrative
 expense 10,899 10,004 40,145 40,235
 Research and
 development
 expense 2,297 1,673 7,616 7,246
 Income (loss) from
 operations 5,027 1,652 11,401 (4,127)
 Interest expense 1,250 810 4,714 4,073
 Interest income (168) (106) (559) (631)
 Other (income)
 expense (320) (181) (845) 312
 Income (loss) before
 income taxes and
 the cumulative effect
 of accounting change 4,265 1,129 8,091 (7,881)
 Provision for
 (benefit from) income
 taxes 1,602 165 3,056 (909)
 Income (loss) before the
 cumulative effect of
 accounting change 2,663 964 5,035 (6,972)
 Cumulative effect of
 accounting change for
 service contracts -- 92 -- 1,014
 Net income (loss) $ 2,663 $ 1,056 $ 5,035 $ (5,958)
 Preferred stock
 dividends 184 -- 484 --
 Net income (loss)
 available to common
 stock $ 2,479 $ 1,056 $ 4,551 $ (5,958)
 Earnings per Common
 Share
 Primary
 Income (loss) per share
 before the cumulative
 effect of accounting
 change $ 0.44 $ 0.17 $ 0.82 $ (1.29)
 Per share cumulative
 effect of accounting
 change -- 0.02 -- 0.19
 Net income (loss) per
 common share $ 0.44 $ 0.19 $ 0.82 $ (1.10)
 Weighted average number
 of common and equivalent
 shares outstanding 5,573 5,642 5,529 5,438
 Fully Diluted
 Income (loss) per share
 before the cumulative
 effect of accounting
 change $ 0.40 $ 0.17 $ 0.82 $ (1.29)
 Per share cumulative
 effect of accounting
 change -- 0.02 -- 0.19
 Net income (loss) per
 common share $ 0.40 $ 0.19 $ 0.82 $ (1.10)
 Weighted average number
 of common and equivalent
 shares outstanding 6,758 5,642 6,223 5,438
 -0- 10/22/92
 /CONTACT: (Media) Karin Cram, Corporate Communications, 919-870-3239, or (Investor) Marty R. Kittrell, Chief Financial Officer, 919-872-3020, both of Exide Electronics Group, Inc./
 (XUPS) CO: Exide Electronics Group, Inc. ST: North Carolina IN: CPR SU: ERN


CM-SB -- CH012 -- 3830 10/22/92 16:27 EDT
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Date:Oct 22, 1992
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