NORTHWEST TELEPRODUCTIONS ANNOUNCES SALES AND EARNINGS
NORTHWEST TELEPRODUCTIONS ANNOUNCES SALES AND EARNINGS MINNEAPOLIS, July 30 /PRNewswire/ -- Northwest Teleproductions, Inc.
(NASDAQ: NWTL) announces first quarter sales of $3,750,758 and net earnings of $236,652 or $.14 per share for the quarter ended June 30, 1992. Comparative operating results for the same period of the prior year were sales of $3,407,648 and a net loss of $28,929 or $.02 per share.
Robert Mitchell, president, commented that current years improved operating performances resulted from an increased demand for services in combination with the benefit of ongoing cost controls. Northwest Teleproductions, Inc. is a full service videotape and film production company with facilities located in Minneapolis, Dallas, Kansas City and Chicago. RESULTS OF OPERATIONS Three Months Ended 6/30/92 6/30/91 Net sales $3,750,758 $3,407,648 Cost and expenses: Cost of products and services sold 2,516,842 2,547,671 Selling, general and administrative 721,739 763,097 Interest 123,338 158,232 -- 3,361,919 3,469,000 -- 388,839 (61,352) Other income 5,813 3,423 Earnings (loss) before taxes on income 394,652 (57,929) Taxes on income (income tax credit) 158,000 (29,000) Net earnings (loss) $236,652 $(28,929) Net earnings (loss) per share $.14 $(.02) -0- 7/30/92 /CONTACT: Jim Steffen of Northwest Teleproductions, 612-835-4455/ (NWTL) CO: Northwest Teleproductions, Inc. ST: Minnesota IN: SU: ERN
AL -- MN006 -- 5018 07/30/92 10:53 EDT
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|Date:||Jul 30, 1992|
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