LASERTECHNICS REPORTS NINE MONTH RESULTS
LASERTECHNICS REPORTS NINE MONTH RESULTS ALBUQUERQUE, N.M., Nov. 13 /PRNewswire/ -- Lasertechnics, Inc.
(NASDAQ: LASX) today reported revenues of $5,644,167 for the nine months ended Sept. 30, 1991, which was 7 percent more than the $5,298,800 reported in the same period a year earlier. The increase was due mainly to improved sales of laser marking systems.
Net loss for the nine months was $652,573 or $0.044 per share, which compares to the net loss of $664,684 or $0.045 cents per share for the first nine months of 1990. The net loss was a result of increased investment in marketing and sales efforts, continued research and development related to the company's excimer laser efforts and pricing pressure resulting from the continuing uncertainty of the economic environment. Lasertechnics' president and chief executive officer, Louis F. Bieck, Jr., stated, "Although nine months results are similar to those of 1990, we are encouraged by the sales increases in the third quarter of 1991 as compared to the third quarter of 1990: laser marking system sales were up 64 percent and imaging product sales were up 32 percent. However, we continue to experience softness in several of our markets and do not believe these sales increases indicate a major strengthening in the economy." Lasertechnics, Inc. designs, manufactures and markets digital imaging systems for computer graphics and image processing applications. The company also designs and manufactures laser marking systems marketed to the electronics, medical and consumer packaging industries. LASERTECHNICS, INC. & SUBSIDIARY Condensed Consolidated Statement of Operations (Unaudited) Nine months ended Sept. 30: 1991 1990 Sales $5,644,167 $5,298,800 Net loss $(652,573) $(664,684) Net loss per share $(0.044) $(0.045) Weighted average of common shares outstanding 14,954,424 14,875,088 -0- 11/13/91 /CONTACT: Louis F. Bieck, Jr., president of Lasertechnics, 505-822-1123/ (LASX) CO: Lasertechnics Inc. ST: New Mexico IN: CPR SU: ERN TS-SM -- NY043 -- 3916 11/13/91 11:48 EST
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|Date:||Nov 13, 1991|
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