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LASERMASTER TECHNOLOGIES, INC. ANNOUNCES SECOND QUARTER PROFITS OF $.16 PER SHARE ON SALES OF $26.2 MILLION

 MINNEAPOLIS, Jan. 13 /PRNewswire/ -- LaserMaster Technologies, Inc. (NASDAQ-NMS: LMTS) today announced that net sales for the quarter ended Dec. 31, 1993 were a record $26.2 million, a 49 percent increase over net sales of $17.5 million for the quarter ended Dec. 31, 1992. The company had net earnings of $1.8 million or $.16 per share for the quarter ended Dec. 31, 1993, compared to a net loss of $719,000 or $.08 per share for the same period one year ago.
 The increase in net sales is attributable to continued strong sales of the company's TurboRes Typesetting product line and growth in sales of Big Color products. Net sales of the company's plain-paper typesetting products were $16.1 million for the quarter ended Dec. 31, 1993, compared to $12.2 million for the same period one year ago, an increase of 31 percent. Sales of DisplayMaker and related Big Color consumables were $6.8 million for the quarter ended Dec. 31, 1993, compared to $2.5 million for the quarter ended Sept. 30, 1993 and $1.0 million for the quarter ended June 30, 1993.
 The company has sold 440 DisplayMakers since launch of the product in June 1993, including 111 units sold in December 1993. Of the 111 units sold in December, 94 of those were shipped with the company's patent-pending Big Ink Delivery System, which delivers up to 10 times the amount of ink as cartridges. Shipping the Big Ink Delivery System is an important milestone in the development of the DisplayMaker as it will improve gross margins on the unit in total and mark the beginning of a stream of consumable revenue which the company expects will carry gross margins in excess of 60 percent.
 Net earnings performance for the quarter ended Dec. 31, 1993 improved over the same period one year ago and sequentially over the previous quarter. Operating expenses for the quarter ended Dec. 31, 1993 decreased over the same period one year ago (both in terms of dollars and as a percent of net sales) as a result of reductions in marketing, general, administrative and sales related expenses. Operating expenses declined to 31 percent of net sales for the quarter ended Dec. 31, 1993, compared to 48 percent for the same period one year ago. The company has now reported four consecutive quarters of net profits. December 1993 was its first month ever with worldwide sales in excess of $10 million and net profits in excess of $1 million.
 According to Mel Masters, LaserMaster's CEO, "The company's sustained and consistent performance over the past four quarters has been very gratifying for all involved. We began 1993 by refocusing the company's efforts into professional specialty printers and spent the better part of the year delivering profitable products which the market wanted. We successfully launched a major new product line in Big Color, strengthened our core plain-paper typesetting business and controlled operating expenses to produce net profits in excess of $3.5 million over the last four quarters. We are very satisfied with those results and believe we will improve on that performance in 1994."
 LaserMaster Technologies, Inc. designs, manufactures and markets large-format color, plain-paper typesetting and Windows printing systems for graphics arts, pre-press and desktop publishing professionals. LaserMaster distinguishes its product line by proprietary software and hardware engineering, including the patented TurboRes resolution enhancement and ColorMark color management and SmoothTone image enhancement technologies.
 LASERMASTER TECHNOLOGIES, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
 (In thousands, except per share amounts)
 Three Months Ended Six Months Ended
 12/31/93 12/31/92 12/31/93 12/31/92
 Net sales $26,158 $17,511 $46,291 $31,906
 Cost of goods sold 14,951 9,621 26,713 17,563
 Gross profit 11,207 7,890 19,578 14,343
 Operating expenses
 Sales and marketing 5,151 5,456 9,300 10,501
 Research and development 783 497 1,374 905
 General and admin. 2,117 2,479 4,207 4,487
 Total operating expenses 8,051 8,432 14,881 15,893
 Operating income (loss) 3,156 (542) 4,697 (1,550)
 Other expense, net 366 472 770 930
 Income (loss) before income
 taxes 2,790 (1,014) 3,927 (2,480)
 Income tax (provision)
 benefit (977) 295 (1,375) 793
 Net income (loss) $1,813 $(719) $2,552 $(1,687)
 Earnings (loss) per common
 share:
 Primary $.16 $(.08) $.23 $(.18)
 Fully diluted $.16 $(.08) $.22 $(.18)
 CONSOLIDATED BALANCE SHEETS
 (In thousands)
 12/31/93 6/30/93
 (Unaudited)
 Assets
 Current assets
 Cash and cash equivalents $2,307 $1,520
 Accounts receivable, net 10,291 8,404
 Inventory 8,855 6,277
 Other 1,477 1,165
 Deferred tax asset 27 1,402
 Total current assets 22,957 18,768
 Property and equipment, net 5,322 5,373
 Capitalized software, net 3,773 3,661
 Other assets, net 1,222 1,206
 Total assets $33,274 $29,008
 Liabilities and stockholders'
 equity
 Current liabilities
 Notes payable $2,555 $2,114
 Payables and accrued
 expenses 11,783 10,453
 Current maturities long-
 term debt 244 332
 Total current liabilities 14,582 12,899
 Long-term debt 143 215
 Convertible subordinated
 debentures 5,528 5,528
 Deferred income taxes 549 549
 Stockholders' equity 12,472 9,817
 Total liabilities and
 stockholders' equity $33,274 $29,008
 -0- 01/13/94
 /CONTACT: Randall L. Ruegg, chief financial officer, 612-944-6069; or David Noah, director of investor relations, 612-944-9457, both of LaserMaster/
 (LMTS)


CO: LaserMaster Technologies, Inc. ST: Minnesota IN: CPR SU: ERN

CP-DB -- MN001 -- 1678 01/13/94 08:45 EST
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Date:Jan 13, 1994
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