Printer Friendly

LEECO ANNOUNCES 1992 RESULTS

 SOUTHFIELD, Mich., March 8 /PRNewswire/ -- Leeco Diagnostics, Inc. (NASDAQ: LECO) announced today the following fourth quarter and fiscal year-end 1992 results:
 LEECO DIAGNOSTICS, INC.
 Three months ended Dec. 31 1992 1991
 (unaudited)
 Total revenues $3,335,891 $4,474,064
 Net loss (697,643) (6,027,741)
 Net loss per share (0.12) (1.06)
 Weighted average number of shares 5,711,041 5,711,041
 Twelve months ended Dec. 31 1992 1991
 Total revenues $16,496,430 $19,682,962
 Net loss (700,885) (8,237,714)
 Net loss per share (0.12) (1.44)
 Weighted average number of shares 5,711,041 5,721,560
 For the three month period ending Dec. 31, 1992, the company's total revenues were $3,335,891, a decrease of 25.4 percent from the corresponding period of 1991. The company's net loss in the period after taxes and interest equals $697,643 or $0.12 per common share.
 The company's total revenues for 1992 were $16,496,430, a decrease of 16.2 percent from 1991. This decrease is a result of the discontinuance, in 1992, of products sold by Leeco in the United States Product sales for 1992 relate exclusively to Technogenetics product sales, principally in Italy, which increased 6.6 percent compared to the same period of 1991.
 The operating income, before interest and miscellaneous expenses, for 1992 was $687,882 compared to an operating loss of $7,152,484 in 1991. The improvement in operating income results entirely from the discontinuance of Leeco operations in Southfield, Mich. expenses for which were already accrued in a $5 million restructuring charge taken at year end 1991.
 The company's net loss for the full year period was $700,885 compared to a net loss of $8,237,714 in fiscal year 1991. The net loss included a loss of $109,469 incurred in connection with ongoing expenses in connection with Leeco's U.S. reduced non-operating activities and a loss of $591,416 realized by Technologenetics in Italy. The company has incurred approximately $450,000 of expenses in connection with the merger transaction with Endogen, Inc. which are being recorded as capital expenses pending completion of the merger.
 -0- 3/8/93
 /CONTACT: Rod N. Raynovich, president and CEO of Leeco Diagnostics, Inc., 313-353-2620/
 (LECO)


CO: Leeco Diagnostics, Inc. ST: Michigan IN: MTC SU: ERN

AH-OS -- NY040 -- 3941 03/08/93 10:57 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:Mar 8, 1993
Words:401
Previous Article:SAFETY-KLEEN ANNOUNCES EXECUTIVE APPOINTMENTS
Next Article:BRISTOL-MYERS SQUIBB COMPANY ANNOUNCES IN-LICENSING AGREEMENT FOR ORAL ULTRASOUND CONTRAST AGENT
Topics:


Related Articles
LEECO DIAGNOSTICS THIRD QUARTER RESULTS
LEECO ANNOUNCES RESTRUCTURING OF ITS U.S. DIAGNOSTIC OPERATIONS
LEECO DIAGNOSTICS TRANSFERS RIA PRODUCT LINE ASSETS TO BINAX
LEECO ANNOUNCES 1991 RESULTS
LEECO ANNOUNCES FIRST QUARTER RESULTS
LEECO DIAGNOSTICS ANNOUNCES RESTRUCTURING AND MERGER WITH ENDOGEN; SECOND QUARTER RESULTS
LEECO DIAGNOSTICS, INC. ANNOUNCES THIRD QUARTER RESULTS
MICHIGAN OTC CHANGES, PROVIDED BY FIRST OF MICHIGAN CORP., TODAY: NOV. 5, 1992
MICHIGAN OTC CHANGES, PROVIDED BY FIRST OF MICHIGAN CORP., TODAY: NOV. 9, 1992
ENDOGEN, INC. RAISES $3.075 MILLION

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