Printer Friendly

RIMAGE CORPORATION REPORTS SECOND QUARTER RESULTS

 MINNEAPOLIS, July 29 /PRNewswire/ -- Rimage Corporation (NASDAQ: RIMG) today reported its consolidated financial results for the quarter ended June 30, 1993. Revenues for the three and six months ended June 30, 1993 were $4,562,157 and $9,235,240, up 61 percent and 64 percent from corresponding 1992 revenues of $2,830,172 and $5,617,017, respectively.
 Consolidated pro forma net earnings, were $326,023 and $799,131 for the three and six months ended June 30, 1993, up 263 percent and 205 percent, respectively, from $89,797 and $262,032 in the same periods of 1992. The consolidated pro forma net earnings per share, were $.21 and $.52 for the three and six months ended June 30, 1993, up 50 percent and 30 percent from corresponding 1992 pro forma earnings per share of $.14 and $.40. The period to period earnings per share comparisons are distorted by Rimage's IPO in late 1992 and the resulting disparities in weighted average shares outstanding.
 Rimage designs, manufactures and sells computer diskette duplication and finishing systems and computer diskette publishing systems.
 RIMAGE CORPORATION AND SUBSIDIARIES
 Selected Consolidated Financial Information
 (In thousands, except per share data)
 Consolidated Statement of Earnings Information:
 Three Months Ended Six Months Ended
 6/30/93 6/30/92 6/30/93 6/30/92
 Revenues $4,562 $2,830 $9,235 $5,617
 Cost of goods sold 2,489 1,697 4,795 3,209
 Gross profit 2,073 1,133 4,440 2,408
 Operating expenses 1,492 941 3,033 1,919
 Operating earnings 581 192 1,407 488
 Interest expense 55 61 109 125
 Pro forma income taxes 210 33 510 87
 Pro forma net earnings $326 $90 $799 $262
 Pro forma earnings per share $.21 $.14 $.52 $.40
 Weighted average
 shares outstanding 1,544 663 1,528 663
 Consolidated Balance Sheet Information:
 Balances as of
 6/30/93 12/31/92
 Receivables $2,880 $2,971
 Inventories 3,677 2,966
 Total current assets 7,182 6,413
 Property and equipment (net) 1,485 1,546
 Total assets 8,818 8,150
 Current liabilities 3,628 3,732
 Stockholders' equity 4,008 3,196
 Total liabilities and
 stockholders' equity 8,818 8,150
 -0- 7/29/93
 /CONTACT: David McCaffrey, CEO, or Jon Wylie, controller, 612-944-8144, both of Rimage/
 (RIMG)


CO: Rimage Corporation ST: Minnesota IN: CPR SU: ERN

AL -- MN007 -- 7149 07/29/93 09:25 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:Jul 29, 1993
Words:405
Previous Article:RALLY'S NEW CFO TO ALSO JOIN BOARD OF DIRECTORS
Next Article:NORTHWEST TELEPRODUCTIONS ANNOUNCES FIRST QUARTER SALES AND EARNINGS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters