Printer Friendly

HICKOK ELECTRICAL REPORTS 3RD QUARTER, 9-MONTH EARNINGS RECORDS

 CLEVELAND, Aug. 3 /PRNewswire/ -- The Hickok Electrical Instrument Company (NASDAQ: HICKA) today reported record earnings for the fiscal third quarter and nine months ended June 30, 1993.
 Third quarter net income amounted to $474,891, or 80 cents per share, up from $463,806, or 76 cents per share, a year ago. For the nine months, net income was $677,081, or $1.13 per share, up from last year's nine month earnings of $642,101, or $1.05 per share, the previous record.
 Nine month sales were a record $13,748,738, surpassing the previous record $12,001,510 of last year. Third quarter sales were $5,782,101, off slightly from the $5,977,056 of last year's third quarter.
 The Cleveland-based producer of automotive diagnostic tools and training programs and high technology indicating instruments said that sales, earnings and backlog figures can vary substantially from period to period because a high proportion of sales are subject to customer shipment release dates. Order backlog as of June 30 amounted to $6,055,000, up from $4,423,000 at fiscal 1992 year-end.
 In the fiscal year ended Sept. 30, 1992, Hickok Electrical earned $1,241,091, or $2.03 per share, on sales of $18,406,287.
 The company said that sales of its automotive diagnostic tools and training programs continued strong and that earnings benefited from the increased sales.
 Hickok reported current assets of $7,813,696, 3.0 times current liabilities of $2,602,751. Working capital as of June 30 was $5,210,945 and stockholders' equity was $6,491,271, equal to $10.82 per share.
 Hickok Electrical specializes in the development, manufacture and marketing of monitoring instruments as used in aircraft and in automotive electronics diagnostics and training.
 THE HICKOK ELECTRICAL INSTRUMENT CO.
 Consolidated Income Statement
 3 MONTHS
 Period ended June 30 1993 1992
 Net sales $5,782,101 $5,977,056
 Income before taxes 778,691 760,406
 Income taxes 303,800 296,600
 Net income $ 474,891 $ 463,806
 Earnings per share $ .80 $ .76
 Weighted average shares
 outstanding 594,978 609,712
 9 MONTHS
 Period ended June 30 1993 1992
 Net sales $13,748,738 $12,001,510
 Income before taxes 1,110,081 1,052,601
 Income taxes 433,000 410,500
 Net income $ 677,081 $ 642,101
 Earnings per share $ 1.13 $ 1.05
 Weighted average shares
 outstanding 600,139 609,712
 -0- 8/3/93
 /CONTACT: Eugene T. Nowakowski of The Hickok Electrical Instrument Company, 216-541-8060/
 (HICKA)


CO: The Hickok Electrical Instrument Company ST: Ohio IN: CPR AUT SU: ERN

AR -- CL017 -- 8810 08/03/93 10:26 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 3, 1993
Words:441
Previous Article:KODAK COMMUNICATIONS CHIEF TO RETIRE
Next Article:MARKEL CORPORATION ANNOUNCES RECORD EARNINGS
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters