SECOND-QUARTER NET PROFIT UP AT INTERFACE SYSTEMS, INC.
ANN ARBOR, Mich., April 22 /PRNewswire/ -- Interface Systems, Inc. (NASDAQ-NMS: INTF) today reported second-quarter net profit up 12 percent to $478,376 or $.11 per share. Six-month net profit was up 46 percent to $1,093,386 or $.26 per share. Revenue for the second quarter was $8,376,549, up 6 percent from last year's revenues of $7,926,047 after excluding revenue of $3,417,056 from Nematron Corporation which was spun off to shareholders on March 1, 1993. Revenue for the six months ending March 31, 1993, was $17,376,019, up 35 percent from last year's six-month figure of $12,891,140 after excluding $7,303,834 revenue from Nematron. Net income of $478,376 or $.11 per share was up 12 percent from last year's second quarter of $427,817, or $.10 per share. Six-months net income was $1,093,386 or $.26 per share, up 46 percent form the prior year's six-month figure of $749,074 or $.18 per share. Carl L. Bixby, president and chief executive officer of Interface Systems, Inc., said, "We are pleased that our revenues were up 6 percent as last year's quarter included a major Cleo Communications division software sale in the United Kingdom by what is now Interface Systems International, Ltd." Bixby continued, "Prospects for the balance of fiscal 1993 are excellent as new Interface and Cleo products continue to be well received in the marketplace." Ann Arbor-based Interface Systems provides printing and connectivity solutions for IBM enterprise networks. The company manufactures a full line of printers for use with IBM mainframe and midrange computers and networks, as well as software and hardware for linking personal computers, workstations, and midrange systems to IBM mainframe-based networks. INTERFACE SYSTEMS, INC. FISCAL 1993 SECOND-QUARTER RESULTS Three Months Ended Percent Increase 3/31/93 (Decrease) 3/31/92(a) Revenue $8,376,549 (26) $11,343,103 Net income 478,376 12 427,817 Net income per share 0.11 10 0.10 Average common shares outstanding 4,174,848 --- 4,294,166 Six Months Ended Percent Increase 3/31/93 (Decrease) 3/31/92(a) Revenue $17,376,019 (14) $20,284,974 Net income 1,093,386 46 749,074 Net income per share 0.26 44 0.18 Average common shares outstanding 4,158,748 --- 4,231,776 (a) Results for three months and six months ended March 31, 1992, include the performance of Nematron Corporation which was spun off to shareholders effective March 1, 1993, and therefore is not included in 1993 results. -0- 4/22/93 /CONTACT: Carl L. Bixby of Interface Systems, Inc., 313-769-5900/ (INTF)
CO: Interface Systems, Inc. ST: Michigan IN: CPR SU: ERN
SM -- DE035 -- 9731 04/22/93 16:47 EDT
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|Date:||Apr 22, 1993|
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