MEDAR REPORTS RECORD THREE-MONTH EARNINGS
MEDAR REPORTS RECORD THREE-MONTH EARNINGS FARMINGTON HILLS, Mich., April 22 /PRNewswire/ -- Medar, Inc.
(NASDAQ-NMS: MDXR) reported record three-month earnings for its first quarter ended March 31, 1992, of $504,339, or $.08 per share, on net sales of $4,857,314, compared to first-quarter earnings in 1991 of $152,414, or $.03 per share, on net sales of $3,979,770.
While the company experienced sales growth in both its welding and machine vision product lines, most of the 22-percent increase in sales was generated in the sale of disc inspection equipment. This family of products includes equipment used to inspect audio compact discs, video discs and data storage discs. Orders for disc inspection equipment remain strong, as bookings of new business during the first three months of 1992 represent more than an 80-percent increase over the value of orders received in the first quarter of 1991. "We look for further growth in the sale of disc inspection equipment as the disc market continues its rapid growth and as disc manufacturers continue to strive for faster production and higher quality," said Charles J. Drake, president and chairman of Medar. Medar, Inc. designs and manufactures computer-controlled automation equipment, including machine vision gauging and inspection equipment, resistance welding controls, computer communication systems and automation machinery. Medar's customers include major companies in the defense, aerospace, automobile, appliance, entertainment and consumer goods packaging industries. -0- 4/22/92 /CONTACT: Charles J. Drake or Gerald R. Smith of Medar, Inc., 313-477-3900/ (MDXR) CO: Medar, Inc. ST: Michigan IN: CPR SU: ERN
JG -- DE011 -- 1163 04/22/92 10:31 EDT
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|Date:||Apr 22, 1992|
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