Printer Friendly

MACLAND ANNOUNCES 1992 EARNINGS RESULTS

 TEMPE, Ariz., March 23 /PRNewswire/ -- MacLand Inc. (NASDAQ: MACL) announced revenues and earnings for the fourth quarter and year ended Dec. 31, 1992.
 The company reported earnings of $42,000, or $0.005 per share, for the year ended Dec. 31, 1992, compared to a net loss of $56,000, or ($0.005) per share, for the same period in 1991. Revenues decreased approximately 23 percent, from $18,428,000 in 1991, to $14,193,000 in 1992. Net income for the fourth quarter in 1992 totaled $75,000, or $0.01 per share, compared to $37,000, or $0.004 per share for the same period in 1991. Total revenues for the fourth quarter of 1992 were $2,882,000, which represents a 37 percent decrease from fourth quarter 1991 revenues of $4,552,000.
 "We achieved our objective of returning the company to profitability in 1992, and are optimistic about the future growth potential of the company due to the continued growth of the Apple Macintosh marketplace," company President Michael D. Rather said. "Sales for the period were lower as a result of our discontinuing many unprofitable product lines, including eliminating sales of IBM compatible computers and components. Our financial condition remains solid, and we will continue to focus on continued profitability and growth in the Macintosh market as well as the marketing and sales of our internally developed software upon its completion."
 MacLand continues to have a solid balance sheet, with more than $500,000 in cash and more than $1,600,000 in working capital at Dec. 31, 1992. Receivables decreased approximately 39 percent, and inventories decreased approximately 24 percent from the 1991 year-end balances. In addition, the company continues to have no long-term debt.
 Earnings recap. Three Months and Year Ended Dec. 31:
 MACLAND INC.
 Three Months Ended Year Ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Revenues $2,881,874 $4,551,603 $14,192,928 $18,428,192
 Net income
 (loss) 74,753 36,779 42,176 (55,738)
 Income (loss)
 per share .01 .004 .005 (.005)
 For more information, fax to 602-345-2217, call 800-333-3353, or write to MacLand Inc., 4685 S. Ash Ave., Suite H-5, Tempe, AZ 85282.
 -0- 3/23/93
 /CONTACT: David Johnson of MacLand, 800-333-3353/
 (MACL)


CO: MacLand Inc. ST: Arizona IN: CPR SU: ERN

BP-EH -- LA009 -- 8691 03/23/93 13:04 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 23, 1993
Words:396
Previous Article:AHMANSON QUARTERLY DIVIDEND DECLARED
Next Article:METROPOLITAN FINANCIAL DECLARES QUARTERLY DIVIDEND
Topics:


Related Articles
SAFECARD SERVICES ANNOUNCES SECOND QUARTER, SIX MONTHS RESULTS
MACLAND ANNOUNCES SECOND QUARTER RESULTS
MACLAND ANNOUNCES STOCK REPURCHASE PLAN AND SOFTWARE DEVELOPMENT PROGRAM
MACLAND ANNOUNCES THIRD QUARTER RESULTS
MACLAND RELEASES JULY NET INCOME FIGURES
MACLAND RELEASES 1993 EARNINGS
MACLAND RELEASES 1993 REVISED EARNINGS
MACLAND BOARD OF DIRECTORS AUTHORIZES STOCK REPURCHASE
MACLAND ANNOUNCES FIRST QUARTER RESULTS
MACLAND BEGINS TRADING ON THE OTC BULLETIN BOARD

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