Printer Friendly

NORTHWEST TELEPRODUCTIONS ANNOUNCES RESULTS

 MINNEAPOLIS, June 7 /PRNewswire/ -- Northwest Teleproductions, Inc. (NASDAQ-NMS: NWTL) reports sales of $13,760,513 and net earnings of $363,989 or $.22 per share for the fiscal year ended March 31, 1993. Comparative results for the same period of the prior year were sales of $14,177,610 and a net loss of $376,986 or $.23 per share.
 Sales for the fourth quarter ended March 31, 1993 of $3,230,363 resulted in a net loss of $61,885 or $.04 per share. Fourth quarter results of operations in the prior year were sales of $3,454,974 and a net loss of $421,805 or $.26 per share.
 Selling, general and administrative expenses for the fourth quarter and year ended March 31, 1992 include $561,000 of rent expenses representing the present value of lease payments on a portion of the company's Chicago space which the company ceased occupying. Net of income taxes, this charge equals $342,000 or $.21 per share.
 Robert Mitchell, president commented that as anticipated, the economy did not provide any improvement in the overall business climate for the industry in fiscal 1993. Nevertheless, continuing cost control measures along with an aggressive sales effort provided improved earnings performance.
 Northwest Teleproductions, founded in 1969, is a full service videotape and film production company with facilities located in Minneapolis, Dallas and Chicago.
 NORTHWEST TELEPRODUCTIONS
 Results of Operations
 Quarter Ended Year Ended
 3/31/93 3/31/92 3/31/93 3/31/92
 Net sales $3,230,363 $3,454,974 $13,760,513 $14,177,610
 Costs and expenses:
 Costs of products
 and services sold 2,615,502 2,663,517 10,068,940 10,620,468
 Selling, general and
 administrative 637,477 1,353,372 2,695,185 3,552,028
 Interest 93,273 121,992 429,339 621,795
 -- 3,346,252 4,138,881 13,193,464 14,794,291
 -- (115,889) (683,907) 567,049 (616,681)
 Other income 6,004 2,102 28,940 9,695
 Earnings (loss) before
 taxes on income (109,885) (681,805) 595,989 (606,986)
 Taxes on income (income
 tax credit) (48,000) (260,000) 232,000 (230,000)
 Net earnings (loss) $(61,885) $(421,805) $363,989 $(376,986)
 Net earnings (loss)
 per share $(.04) $(.26) $.22 $(.23)
 -0- 6/7/93
 /CONTACT: Jim Steffen of Northwest Teleproductions, 612-835-4455/
 (NWTL)


CO: Northwest Teleproductions, Inc. ST: Minnesota IN: SU: ERN

AL -- MN012 -- 5976 06/07/93 11:20 EDT
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:Jun 7, 1993
Words:415
Previous Article:RELIABLE OFFICE SUPERSTORE SLATED FOR MANKATO; STRONG CONSUMER REACTION BRINGS THIRD STORE TO STATE
Next Article:MOTOROLA AND DIAB DATA ANNOUNCE AVAILABILITY OF HIGHLY OPTIMIZED COMPILERS FOR THE 68000 FAMILY
Topics:


Related Articles
NORTHWEST TELEPRODUCTIONS REPORTS SALES
NORTHWEST TELEPRODUCTIONS ANNOUNCES SALES AND EARNINGS
NORTHWEST TELEPRODUCTIONS REPORTS SECOND QUARTER SALES AND EARNINGS
NORTHWEST TELEPRODUCTIONS ANNOUNCES COMPLETION OF SALE
NORTHWEST TELEPRODUCTIONS AWARDED CONTRACT FROM THE DEPARTMENT OF DEFENSE
NORTHWEST TELEPRODUCTIONS REPORTS FINANCIAL RESULTS
NORTHWEST TELEPRODUCTIONS, INC. ANNOUNCES RESULTS
NORTHWEST TELEPRODUCTIONS ANNOUNCES RESULTS
NORTHWEST TELEPRODUCTIONS ANNOUNCES RESULTS
NORTHWEST TELEPRODUCTIONS, INC. ANNOUNCES EARNINGS

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