INSIGNIA SYSTEMS REPORTS FOURTH QUARTER RESULTS
INSIGNIA SYSTEMS REPORTS FOURTH QUARTER RESULTS MINNEAPOLIS, Jan. 28 /PRNewswire/ -- Insignia Systems, Inc.
(NASDAQ: ISIG) today reported net sales of $2,162,101 for the fourth quarter ended Dec. 31, 1991, compared to net sales of $1,698,341 for the third quarter of 1991. Net loss for the fourth quarter of 1991 was $174,505, or $.04 per share, compared to a net loss of $308,017, or $.06 per share for the third quarter of 1991.
For the fourth quarter of 1990, the company was still in the development stage and incurred a net loss of $778,497, or $.24 per share, on sales of $834,291. For the year ended Dec. 31, 1991, net sales were $6,596,619 and the net loss was $1,278,261, or $.31 per share, compared to sales of $940,714 and a net loss of $2,219,985, or $.91 per share for the year ended Dec. 31, 1990, while the company was still in the development stage. G.L. Hoffman, president and CEO of Insignia stated, "1991 was an exciting year for Insignia with the market acceptance of the Impulse Sign System and the completion of our initial public offering. We are pleased with the positive sales trend and the reduction in net loss compared to prior quarters in our first full year of selling the Impulse Sign System. As we enter 1992, our efforts remain focused on efficiently penetrating the market." 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 Three Months Ended Year Ended 12/31/91 12/31/90 12/31/91 12/31/90 (Unaudited) Net sales $2,162,101 $834,291 $6,596,619 $940,714 Gross profit 1,280,457 342,362 3,914,878 401,640 Operating loss (221,052) (812,640) (1,382,321) (2,295,209) Net loss $(174,505) $(778,497) $(1,278,261) $(2,219,985) Loss per share $(0.04) $(0.24) $(0.31) $(0.91) Average shares outstanding 4,983,582 3,295,676 4,128,674 2,434,306 -0- 1/28/92 /CONTACT: John A. Fahlberg of Insignia Systems, 612-553-3200/ (ISIG) CO: Insignia Systems, Inc. ST: Minnesota IN: SU: ERN
AL -- MN020 -- 4465 01/28/92 17:44 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Jan 28, 1992|
|Previous Article:||AMERICAN STOCK EXCHANGE DAILY REPORT|
|Next Article:||CTG ANNOUNCES FOURTH QUARTER AND FULL YEAR RESULTS|