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HATHAWAY REPORTS FOURTH QUARTER AND FISCAL 1993 RESULTS

 WESTMINSTER, Colo., Aug. 16 /PRNewswire/ -- Hathaway Corp. (NASDAQ: HATH) today reported net income of $981,000 or 21 cents per share for the fiscal year ended June 30, 1993 compared to $1,741,000 or 38 cents per share for the previous fiscal year. Net income from continuing operations was $23,000 or 0 cents per share for the current year compared to $2,064,000 or 45 cents per share last year. These results of continuing operations include foreign currency losses of $946,000 ($821,000 net of tax or 18 cents per share) in the current fiscal year and foreign exchange gains of $278,000 ($215,000 net of tax or 5 cents per share) for the previous fiscal year.
 Revenues from continuing operations were $45,741,000 for the current fiscal year compared to $42,806,000 last year.
 Hathaway has recently announced it has signed a letter of intent to sell its application software segment, Global Software, to the senior management of Global for an undisclosed amount. The sale is subject to Hathaway shareowners' approval, Hathaway obtaining a fairness opinion supporting the purchase price, and the buyer securing financing.
 "Our plan to sell Global Software to its senior management is underway, and we are optimistic about the outlook for our continuing operations," said Gene Prince, chief executive officer of Hathaway. "As we move forward into the new fiscal year, management is committed to increasing shareowner value."
 Net income for the fourth quarter ended June 30, 1993 was $1,047,000 or 22 cents per share compared to $281,000 or 6 cents per share for the like period last year. Revenues from continuing operations for the recent quarter were $12,389,000 compared to $12,082,000 for the like period last year.
 Based in Westminster, Hathaway is the world's leading manufacturer of electric power fault recording equipment.
 HATHAWAY CORP.
 Financial Data Summary
 Three Months Ended Year-Ended
 June 30, June 30,
 1993 1992 1993 1992
 Revenues from
 continuing
 operations $12,389,000 $12,082,000 $45,741,000 $42,806,000
 Net income from
 continuing
 operations,
 net of tax $722,000 $1,350,000 $23,000 $2,064,000
 Net income (loss)
 from operations
 to be divested,
 net of tax 325,000 (1,069,000) 958,000 (323,000)
 Net income $1,047,000 $281,000 $981,000 $1,741,000
 PRIMARY EARNINGS
 PER SHARE
 Net income per
 share from
 continuing
 operations $0.15 $0.29 $0.00 $0.46
 Net income (loss)
 per share from
 operations to
 be divested 0.07 (0.23) 0.21 (0.07)
 Net income per share $0.22 $0.06 $0.21 $0.39
 FULLY DILUTED EARNINGS
 PER SHARE
 Net income per share
 from continuing
 operations $0.15 $0.29 $0.00 $0.45
 Net income (loss)
 per share from
 operations
 to be divested 0.07 (0.23) 0.21 (0.07)
 Net income per share $0.22 $0.06 $0.21 $0.38
 Shares used in
 computing primary
 earnings per
 share 4,711,000 4,649,000 4,642,000 4,516,000
 Shares used in
 computing fully
 diluted earnings
 per share 4,711,000 4,654,000 4,642,000 4,640,000
 -0- 8/16/93
 /CONTACT: Wayne Brown of Carl Thompson Associates, 303-494-5472/
 (HATH)


CO: Hathaway Corp. ST: Colorado IN: CPR SU: ERN

BB -- DV004 -- 3031 08/16/93 11:28 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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