LARSON-DAVIS ANNOUNCES FIRST QUARTER RESULTS
LARSON-DAVIS ANNOUNCES FIRST QUARTER RESULTS PROVO, Utah, Nov. 20, /PRNewswire/ -- Larson-Davis Inc.
(NASDAQ: LDII) today announced results for the three month period ended Sept. 30, 1991 (the company's first fiscal quarter).
Larson-Davis reversed a trend by posting a profit per share of approximately 1 cent for the quarter ended Sept. 30, 1991, as compared to a net loss of ($0.01) per share in each of the two preceding quarters. Due to several recent large orders the company currently has the largest backlog in its history. "Larson-Davis suffered slightly from the effects of the recession, but our strong showing in the quarter ended Sept. 30, 1991, indicates a turnaround. We showed a profit for our year ended June 30, 1991, and now have posted a first quarter profit accompanied by a strong backlog of orders," commented Brian G. Larson, president of Larson-Davis Inc. The following is selected financial information for the quarter ended Sept. 30, 1991, and the fiscal year ended June 30, 1991. This data should be read in conjunction with the company's reports on forms 10-K and 10-Q which are available upon request: 9/30/91 6/30/91 Total Current Assets $4,204,729 $4,256,911 Total Assets 9,696,909 9,316,715 Total Current Liabilities 2,371,027 2,433,875 Total Liabilities 3,465,361 3,509,642 For the For the 3 months 12 months ended ended 9/30/91 6/30/91 Net Sales $1,355,250 $6,052,499 Net Income 40,921 85,086 Net Income Per Share $ .01 $ .02 -0- 11/20/91 /CONTACT: Dan Johnson of Larson-Davis Inc., 801-375-0182 (LDII) CO: Larson-Davis Inc. ST: Utah IN: CPR SU: ERN DG -- DV005 -- 5229 11/20/91 08:04 EST
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|Date:||Nov 20, 1991|
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