Printer Friendly

NU HORIZONS REPORTS SECOND QUARTER AND SIX MONTHS GAINS; SECOND QUARTER EARNINGS SURGE 402 PERCENT ON 53 PERCENT SALES RISE

 NU HORIZONS REPORTS SECOND QUARTER AND SIX MONTHS GAINS;
 SECOND QUARTER EARNINGS SURGE 402 PERCENT ON 53 PERCENT SALES RISE
 AMITYVILLE, N.Y., Oct. 8 /PRNewswire/ -- Nu Horizons Electronics Corp. (AMEX: NUH), a leading distributor of active and passive electronic components and provider of industrial contract manufacturing services, today reported substantial gains in sales and earnings for second quarter and six months ended Aug. 31, 1992.
 Second quarter net income climbed 402 percent to $329,053 or 7 cents per share from net income of $65,518 or 1 cent per share for the same period last year. Net sales for the period increased 53 percent to $14,944,567 from $9,759,611 for the prior year's second quarter.
 For the six months, net income increased 311 percent to $595,389 or 13 cents per share from $145,029, or 3 cents per share for the first half of last year. Net sales were up 40 percent to $28,224,010, from $20,223,160 for the first six months of the previous year.
 "We continue to benefit from our strong, broad product lines and aggressive marketing programs that produce a steadily increasing market share," Arthur Nadata, president, said. "These highly gratifying results were achieved while we continue to invest in our Nu Visions' Manufacturing subsidiary, providing contract manufacturing services. Nu Vision's state-of-the-art facility in Springfield, Mass., has generated a great deal of customer interest, contributing to our optimism that this subsidiary will become profitable during the next fiscal year," he concluded.
 NU HORIZONS ELECTRONICS CORP.
 Financial Highlights (Unaudited)
 Three Months Six Months
 Periods ended Aug. 31 1992 1991 1992 1991
 Net sales $14,944,567 $9,759,611 $28,224,010 $20,223,160
 Income before prov.
 for income taxes 548,804 94,057 992,697 231,988
 Prov. for income taxes 219,751 28,539 397,308 86,959
 Net income 329,053 65,518 595,389 145,029
 Earnings per share:
 Primary $.07 $.01 $.13 $.03
 Fully diluted $.07 $.01 $.13 $.03
 Average shares outstand.:
 Primary 4,591,177 4,483,159 4,586,622 4,481,507
 Fully diluted 4,727,665 4,773,299 4,726,832 4,773,299
 -0- 10/8/92
 /CONTACT: Paul Durando of NU Horizons Electronics, 516-226-6000/
 (NUH) CO: NU Horizons Electronics Corp. ST: New York IN: CPR SU: ERN


CK-SM -- NY045 -- 7817 10/08/92 11:49 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 8, 1992
Words:400
Previous Article:CONTINENTAL AIRLINES UNVEILS "BUSINESSFIRST" SERVICE ON INTERCONTINENTAL FLIGHTS
Next Article:STANFORD TELECOM ANNOUNCES CONTRACT AWARD FROM GENERAL SERVICES ADMINISTRATION TO SUPPORT THE FEDERAL AVIATION ADMINISTRATION
Topics:


Related Articles
NU HORIZONS REPORTS STRONG FIRST QUARTER GAINS
CIRCUIT CITY STORES, INC. REPORTS SECOND QUARTER RESULTS
HELEN OF TROY REPORTS SHARP INCREASES IN 2ND QUARTER/6 MONTHS EARNINGS
CPAC PROFITS UP 83 PERCENT IN SECOND QUARTER
FLEETWOOD ANNOUNCES STRONG EARNINGS GAINS
NU HORIZONS REPORTS STRONG FIRST QUARTER GAINS; EARNINGS RISE 289 PERCENT ON 53 PERCENT SALES INCREASE
Nu Horizons Reports Record Fourth Quarter & Year-End Sales and Earnings.
Nu Horizons Reports Record Earnings and Record Sales Results for the First Quarter of Fiscal Year 2001.
NU Reports Improved Second Quarter Results.

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