Printer Friendly

KEPTEL, INC. REPORTS EARNINGS

 TINTON FALLS, N.J., Jan. 28 /PRNewswire/ -- Keptel Inc. (NASDAQ: KPTL) announced today earnings for its first quarter ended Dec. 31, 1992 of $644,000 or $.14 per common share on revenues for the period of $11,029,000. These results compare with revenues of $11,766,000, which included $1,253,000 of sales from the Armiger line which was sold last April, and earnings of $503,000 or $.11 per common share for the same period last year.
 Richard K. Laird, president and chief executive officer said, "We are very pleased with the results of this first quarter following a strong finish to our previous fiscal year ended Sept. 30. Bookings, while somewhat disrupted during the quarter by staff changes within Ameritech, were none the less sufficient to carry the company to its goal. Three new products were successfully introduced during the quarter. Two of the products, designed for fiber optic cable installations, were accepted for immediate use by three of the company's Bell Telephone customers, and the third new product, a proprietary electronic transmission product, is now being deployed by three other customers. In addition, another new product was granted conditional approval by Telmex, the Mexican telephone company, paving the way for future opportunities with a substantial new customer. Gross profit margins grew by nearly five percentage points when compared with the same quarter last year, resulting from increased utilization of the company's Maquiladora facilities along with the impact of higher margin new products and refined pricing."
 "Also during the quarter," Laird continued, "The company repaid approximately $1,200,000 in debt thereby further strengthening its debt equity ratio while at the same time retiring roughly 80,000 shares of common stock under a previously announced stock buy back program. Despite these applications, the company ended the quarter with cash balances in excess of $2,700,000."
 "Looking ahead," Laird added, "Sales of the company's base products should strengthen with the economy while revenues should get a further boost from coming new products." "All of this positions Keptel well for a strong year ahead and an even brighter future as the company presses its franchise deeper into fiber optics."
 Keptel, Inc. headquartered in Tinton Falls, N.J. has facilities in Addison, Ill.; El Paso, Texas and Juarez, Mexico. Keptel, Inc. designs, manufactures and markets a diversified range of telecommunication and CATV test and transmission equipment.
 KEPTEL, INC.
 Comparative Statements of Income
 First quarter ended Dec. 31 1992 1991
 Net sales $11,029,000 $11,766,000
 Income before income taxes 1,179,000 838,000
 Provision for income taxes 535,000 335,000
 Net income 644,000 503,000
 Earnings per share:
 Primary 0.14 0.11
 Fully diluted 0.14 0.11
 Average shares outstanding (000s):
 Primary 4,664 4,659
 Fully diluted 4,812 4,953
 -0- 1/28/93
 /CONTACT: Richard K. Laird of Keptel, Inc., 908-389-8800/
 (KPTL)


CO: Keptel, Inc. ST: New Jersey IN: TLS SU: ERN

LR-OS -- NY028 -- 0158 01/28/93 10:39 EST
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:Jan 28, 1993
Words:503
Previous Article:APOGEE SEES LOWER FOURTH QUARTER NET; FULL YEAR TO BE BELOW YEAR EARLIER FORECAST
Next Article:ADVACARE, INC. ANNOUNCES FIRST QUARTER RESULTS
Topics:


Related Articles
KEPTEL ANNOUNCES EARNINGS
KEPTEL REPORTS EARNINGS
KEPTEL, INC. REPORTS RESULTS
KEPTEL, INC. REPORTS EARNINGS
KEPTEL REPORTS RECORD THIRD QUARTER RESULTS
KEPTEL, INC. REPORTS RECORD FISCAL 1993 RESULTS
KEPTEL, INC. REPORTS STRONG FIRST QUARTER RESULTS
KEPTEL, INC. HOLDS SHAREHOLDERS MEETING; ELECTS THREE DIRECTORS TO BOARD
ANTEC ANNOUNCES RECORD SECOND QUARTER REVENUES
ARRIS Announces Fourth Quarter and Full Year 2002 Results.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters