Printer Friendly

GENERAL AUTOMATION INC. REPORTS THIRD QUARTER PROFIT

 ANAHEIM, Calif., Aug. 13 /PRNewswire/ -- General Automation Inc. (AMEX: GA), a supplier of specialized database-oriented business systems, today reported a net profit of $244,000 on sales of $9.4 million for the quarter ended June 30, 1993. The profit, including extraordinary items, totaled $0.02 per share. In the preceding year GA reported a net profit of $175,000 ($0.02 per share) on sales of $11.1 million for the comparable quarter. For the current nine-month period ended June 30, 1993, the company reported a net profit of $431,000 ($0.04 per share) on sales of $32.5 million compared to a profit of $384,000 ($0.03 per share) on sales of $35.0 million for the same nine-month period in the preceding year.
 Commenting on these results, Leonard N. Mackenzie, president, said: "We are pleased with these results. Recognizing the changing trends in our industry we are continuing to focus our efforts in the area of value added products in order to meet today's market opportunities."
 Mackenzie went on to add: "With installations of our vertical application packages such as hotel, library, telemarketing, mail-order and collection systems which are available on a variety of different manufacturers' equipment, we are beginning to see sound results from our efforts. We are convinced that the strategy of pursuing solutions in this open systems environment will position us properly in our rapidly changing industry."
 General Automation provides business computer systems, related system-level and vertical market application software and field service operations through a multinational network of computer marketing, support and service companies. General Automation Inc. operates in the United States, Europe, Southeast Asia and the South Pacific.
 GENERAL AUTOMATION INC. AND SUBSIDIARIES
 Consolidated Statement of Operations
 (In thousands except per share amounts)
 (Unaudited)
 Three Months Ended Nine Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 Sales $9,358 $11,120 $32,464 $34,963
 Costs and expenses:
 Cost of sales 5,483 6,764 19,629 21,818
 Research and development 383 507 1,234 1,636
 Selling and
 administrative 3,043 3,384 10,922 10,130
 Other, net (165) 69 (223) 173
 Total 8,744 10,724 31,562 33,757
 Operating income 614 396 902 1,206
 Equity in earnings of
 General Automation Ltd.
 (United Kingdom) 0 0 0 5
 Interest expense, net (120) (185) (550) (582)
 Income before income
 taxes and extraordinary
 items 494 211 352 629
 Provision for income
 taxes (153) 5 (237) (109)
 Minority interests (322) (80) (359) (251)
 Income/(loss) before
 extraordinary income 19 136 (244) 269
 Extraordinary income 225 39 675 115
 Net income (loss) $244 $175 $431 $384
 Per Share-Primary:
 Income/(loss) before
 extraordinary income $0.00 $0.01 ($0.02) $0.02
 Extraordinary income 0.02 0.01 0.06 0.01
 Net income $0.02 $0.02 $0.04 $0.03
 -0- 8/13/93
 /CONTACT: Don Rutherford of General Automation, 714-778-4800/
 (GA)


CO: General Automation Inc. ST: California IN: CPR SU: ERN

MF-CC -- LA041 -- 2784 08/13/93 21:04 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:Aug 13, 1993
Words:506
Previous Article:TITAN ANNOUNCES SECOND QUARTER RESULTS
Next Article:NATIONAL MEDIATION BOARD REAFFIRMS CERTIFICATION OF AIR LINE PILOTS ASSOCIATION TO REPRESENT FEDERAL EXPRESS PILOTS
Topics:

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