METRO TEL REPORTS SECOND QUARTER RESULTS
METRO TEL REPORTS SECOND QUARTER RESULTS JERICHO, N.Y., Jan. 21 /PRNewswire/ -- Sales for the second quarter
improved over the first quarter of this fiscal year, however, the recession still dampens general business activity and has kept overall revenues below the same period of a year ago.
For the second quarter, Metro Tel Corp. (NASDAQ: MTRO) reported sales of $1,065,219 and a loss of $28,989 or $.01 per share. This compared with sales of $1,320,516 and net earnings of $9,291 or zero cents per share for the same quarter last year. For the six month period ended Dec. 31, 1991, sales were $2,031,972 with a net loss of $67,711 or $.03 per share compared with sales of $2,474,993 and a net loss of $15,151 or $.01 per share for the same period of fiscal 1991. V. J. Indelicato, president of Metro Tel, a manufacturer of telephone test and peripheral equipment, said the company has been restructured in a much more efficient manner to offset recessionary pressures. However, continuing heavy expenditures for professional fees and shareholders and moving expenses for the quarter prevented the company from operating profitably. Indelicato voiced optimism for the balance of the fiscal year stating that telephone company budgets are traditionally released in January. "A slight increase in spending by telephone companies coupled with the company's existing contracts should begin to increase revenues," he stated. METRO TEL CORP. (Unaudited results) Three months Six months Dec. 31 1991 1990 1991 1990 Sales $1,065,219 $1,320,516 $2,031,972 $2,474,993 Earnings (loss) before income taxes (48,314) 15,485 (112,851) (25,251) Income taxes (19,325) 6,194 (45,140) (10,000) Net earnings (loss) (28,989) 9,291 (67,711) (15,151) Provision for dividends on redeemable preferred stock -- 6,300 -- 12,600 Net earnings (loss) applicable to common stock (28,989) 2,991 (67,711) (27,751) Net earnings (loss) per share ($.01) -- ($.03) (.01) Common stock used in computation 2,004,046 2,004,046 2,004,046 2,004,046 -0- 1/21/92 /CONTACT: V. Indelicato of Metro Tel, 516-937-3420/ (MTRO) CO: Metro Tel Corp. ST: New York IN: TLS SU: ERN SM-OS -- NY099 -- 1966 01/21/92 15:16 EST
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|Date:||Jan 21, 1992|
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