MICRONICS COMPUTERS REPORTS FIRST QUARTER FINANCIAL RESULTS
FREMONT, Calif., Jan. 25 /PRNewswire/ -- Micronics Computers Inc. (NASDAQ: MCRN) today reported operating results for its first quarter ended Dec. 3l, 1992. Net sales reached a record $42.3 million, up 21 percent from the September 1992 quarter and up 12 percent from the first quarter of fiscal 1992. First quarter net income was $2,028,000 (18 cents per share), a 57 percent increase over the September 1992 quarter's net income of $1,288,000 (12 cents per share), but down 29 percent from net income of $2,842,000 (26 cents per share) reported in last year's first quarter. Micronics has now reported 25 consecutive quarters of profitable operations since its founding in late 1986. The company attributed the sequential improvement in operating results in large part to strong customer demand for system board products incorporating the company's VESA Local Bus technology introduced last fall. These products continue to be very positively received within the PC industry.
Micronics Computers is an industry leader in providing advanced system boards for high-performance IBM-compatible personal computers sold by OEMs, distributors and value-added resellers. A system board contains the microprocessor, supporting logic circuitry and memory components that form the core of a personal computer. The company sells primarily to direct marketers and other marketing-oriented personal computer vendors.
MICRONICS COMPUTERS INC. CONDENSED INCOME STATEMENT (Unaudited, In thousands, except per share data) Three Months Ended Dec. 31, 1992 1991 Net Sales $42,342 $37,974 Gross Profit 7,792 9,144 Income from Operations 3,168 4,403 Net Income 2,028 2,842 Net Income Per Share $ 0.18 $ 0.26 Common and Common Equivalent Shares Outstanding 11,020 11,139 -0- 1/25/93 /CONTACT: Robert Campbell of Micronics Computers, 510-651-2300/ (MCRN)
CO: Micronics Computers Inc. ST: California IN: CPR SU: ERN
RK-SG -- SJ008 -- 8292 01/25/93 09:09 EST
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|Date:||Jan 25, 1993|
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