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INFINITE GRAPHICS INCORPORATED REPORTS YEAR-END RESULTS

 MINNEAPOLIS, Aug. 23 /PRNewswire/ -- Infinite Graphics Incorporated today announced year-end results for the fiscal year ended April 30, 1993.
 The fiscal 1993 year-end results showed a net profit of $481,299 or a profit of $.21 per share on sales of $4,135,989. This is in comparison to a net profit of $340,178 or $.15 per share on sales of $4,747,865 in fiscal 1992.
 Sales for the fourth quarter were $1,160,113 compared to $1,059,087 for the same quarter last year. The company reported a fourth quarter net loss of $120,442 after a fourth quarter adjustment of $150,000 or 4 cents per share compared to a net profit of $20,962 or 1 cent per share in the fourth quarter a year ago. Without the adverse adjustment the company would have reported a $29,558 net profit for the fourth quarter or 1 cent per share.
 The company wrote down $150,000 in software held for sale during fiscal 1993. The profit for fiscal 1993 included $856,675 of profit from extraordinary items resulting from discounts from restructured debt. The fourth quarter includes the $150,000 of written-off software held for sale asset.
 The Engineering Services Division sales decreased 4 percent during fiscal 1993. Sales for the Engineering Services Division were $2,742,000 in fiscal 1993 compared to $3,173,000 in 1992. Software Systems Division sales decreased 11 percent to $1,394,000 in fiscal 1993 versus $1,575,000 in 1992. Both divisions paralleled the economy affecting the electronics and military industries during the year.
 In light of the industry's present performance record, the company is planning a modest increase in sales for fiscal 1994. In conjunction with this, the company is focusing on reducing its operating and overhead cost and streamlining its processes.
 Today IGI products and services are aimed at meeting customer needs for production phototooling. A major market segment utilizing these products and services is the Printed Circuit Board (PCB) fabrication industry. Merchant and captive suppliers, along with Fortune 500 electronic companies, are potential customers.
 Infinite Graphics Incorporated is a total solutions precision graphics company that has served the engineering and manufacturing marketplace since 1969. Infinite Graphics develops and markets engineering graphics services and products for precision graphics and printed circuit board: manufacturing, design and testing. Headquartered in Minneapolis, the company markets its services and products in the United States, Canada and Western Europe.
 INFINITE GRAPHICS INCORPORATED
 Consolidated Statement of Earnings
 (Audited)
 Three Months Ended Year Ended
 4/30/93 4/30/92 4/30/93 4/30/92
 Net sales $1,160,113 $1,059,087 $4,135,989 $4,747,865
 Other income -- 1,047 -- 1,047
 -- $1,160,113 $1,060,134 $4,135,989 $4,748,912
 Write-downs 150,000 -- 150,000 254,000
 Costs and expenses 1,122,887 1,084,561 4,343,697 4,595,665
 Profit (loss) before
 income taxes and
 extraordinary items (112,774) (24,427) (357,708) (100,753)
 Income taxes (7,668) (7,000) (17,668) 1,000
 Net profit (loss)
 before extraordinary
 item (120,442) (17,427) (375,376) (101,753)
 Extraordinary item -- 38,389 856,675 441,931
 Net profit (loss) $(120,442) $20,962 $481,299 $340,178
 Net profit (loss)
 per common share $(.04) $.01 $.21 $.15
 Average common
 share outstanding 2,731,686 2,221,686 2,337,254 2,221,686
 -0- 8/23/93
 /CONTACT: Lee Miller of Infinite Graphics, 612-721-6283/


CO: Infinite Graphics, Inc. ST: Minnesota IN: CPR SU: ERN

AL-DB -- MN014 -- 5201 08/23/93 17:21 EDT
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Publication:PR Newswire
Date:Aug 23, 1993
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