INSIGNIA SYSTEMS REPORTS FIRST QUARTERLY PROFIT
INSIGNIA SYSTEMS REPORTS FIRST QUARTERLY PROFIT MINNEAPOLIS, April 14 /PRNewswire/ -- Insignia Systems, Inc.
(NASDAQ: ISIG) today reported net sales of $2,514,008 for the first quarter ended March 31, 1992, an increase of 112 percent, compared to net sales of $1,186,485 for the first quarter of 1991. Net earnings for the first quarter of 1992 were $51,155, or $.01 per share, compared to a net loss of $453,677, or $.14 per share for the first quarter of 1991.
G.L. Hoffman, president and CEO of Insignia stated, "The first quarter of 1992 was a milestone for Insignia as we attained our first quarterly profit. Since September of 1990 when we began selling the Impulse Sign System, we have seen six consecutive quarters of increased sales, as well as reduced losses and now profitability. We are very pleased with these trends. A key to our success is not only the market acceptance of the Impulse Sign System, but also increasing use of sign card supplies by our customers. We continue to expand our supply offering to meet the needs of our customers with new colors and types of sign cards, including the recently released DuraSign(TM) which is an all-weather sign card for use in all store conditions." Insignia Systems, Inc. markets the Impulse Sign System for use by retail merchants to quickly and easily produce high quality signs of varying sizes in their stores. INSIGNIA SYSTEMS, INC. RESULTS OF OPERATIONS (Unaudited) Three Months Ended March 31, 1992 1991 Net sales $2,514,008 $1,186,485 Gross profit $1,567,380 $640,642 Operating earnings (loss) $9,950 $(451,058) Net earnings (loss) $51,155 $(453,677) Earnings (loss) per share $0.01 $(0.14) Average shares outstanding 5,363,397 3,295,676 -0- 4/14/92 /CONTACT: John A. Fahlberg of Insignia Systems, 612-553-3200/ (ISIG) CO: Insignia Systems, Inc. ST: Minnesota IN: SU: ERN
AL -- MN006 -- 8248 04/14/92 11:50 EDT
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|Date:||Apr 14, 1992|
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