Printer Friendly

MEDIA LOGIC ENTERS DISK BUSINESS; FISCAL FOURTH QUARTER ANTICIPATED TO BE RECORD PERIOD

 PLAINVILLE, Mass., March 2 /PRNewswire/ -- The president of Media Logic, Inc., (AMEX: TST) today announced at a special meeting of shareholders that the company has launched a new business initiative "supplying premium quality Media Logic brand 3.5-inch diskettes to large computer disk users, such as software duplicators."
 David R. Lennox, president, told stockholders the new business "is a natural outgrowth of our core business supplying precision test and certification equipment which has become the de facto quality standard to the worldwide computer disk and tape industry."
 "We will focus only on the premium end of the disk market, supplying Media Logic diskettes to large users of computer disks who want long- term supply commitments for the highest quality disk product available," Lennox said.
 Media Logic has been shipping diskettes "for about three months, and demand for our product has grown appreciably," he said. "We expect this new venture to provide us with interesting and steady growth."
 Lennox also told the 140 shareholders and financial analysts at the meeting that worldwide demand for Media Logic's computer media test and certification systems "has been accelerating throughout our fiscal year."
 "This has been a very rewarding year for your company," Lennox said. "We equaled the prior year's record sales results at the end of our second fiscal quarter, and earnings at that point were substantially ahead of the prior fiscal year."
 "We have posted record sales and earnings in each quarter of the current fiscal year, and I anticipate we will again report record sales and earnings in our fiscal fourth quarter, which ends March 31st," he said.
 The special shareholders meeting was held in the newly-constructed addition to Media Logic's factory in Plainville.
 -0- 3/2/93
 /CONTACT: Paul M. O'Brien of Media Logic, 508-695-2006/
 (TST)


CO: Media Logic, Inc. ST: Massachusetts IN: CPR SU: PDT

DJ -- NE007 -- 8012 03/02/93 11:13 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 2, 1993
Words:314
Previous Article:SUSAN STROBEL TO JOIN SYNTRO AS VICE PRESIDENT OF FINANCE AND CFO
Next Article:THERMO FIBERTEK ANNOUNCES YEAR-END RESULTS
Topics:


Related Articles
KOMAG ANNOUNCES PRELIMINARY UNAUDITED EARNINGS FOR ITS 1991 FOURTH QUARTER AND FISCAL YEAR
KOMAG EXPECTS STRONG PERFORMANCE OF ITS MEDIA OPERATIONS TO BE PARTIALLY OFFSET BY A SLOWER PRODUCTION RAMP AT DASTEK
KOMAG REPORTS ITS FOURTH QUARTER AND AUDITED FINANCIAL RESULTS FOR THE 1992 FISCAL YEAR
MEDIA LOGIC REPORTS SALES OF $21.3 MILLION, NET EARNINGS $4.2 MILLION; OFFERING PLANNED
MEDIA LOGIC FIRST QUARTER SALES UP 86 PERCENT; NET EARNINGS INCREASE 141 PERCENT
CIRPRICO ANNOUNCES FOURTH-QUARTER AND YEAR-END RESULTS
MEDIA LOGIC THIRD QUARTER RESULTS INCLUDE NON-RECURRING CHARGE
KOMAG ANNOUNCES PRELIMINARY UNAUDITED 1993 FOURTH QUARTER AND FISCAL YEAR RESULTS
MEDIA LOGIC ANNOUNCES FIRST QUARTER RESULTS
MEDIA LOGIC ANNOUNCES SECOND QUARTER RESULTS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters