Printer Friendly

SECURITY TAG REVENUE GROWTH CONTINUES

 SECURITY TAG REVENUE GROWTH CONTINUES
 ST PETERSBURG, Fla., Oct. 26 /PRNewswire/ -- Security Tag Systems,


Inc (NASDAQ: STAG) today announced operating results for the second quarter and first six months of Fiscal Year 1993. Total revenues for the quarter increased 27 percent and 24 percent for the six months, compared to last year's comparable periods. Profits for the periods were slightly lower.
 Carter W. Clarke, Jr, president and chief executive officer of Security Tag Systems, stated, "We are relatively pleased that we have been able to increase revenues to the extent we have in this continuing difficult retail climate. The major reason for the lower net income was a production problem in Hong Kong which resulted in additional, unbudgeted costs. This situation has been rectified.
 "With regard to the proposed acquisition of Security Tag by Sensormatic Electronics Corporation, Inc, the necessary due diligence is underway, as is the drafting of a definitive agreement and the obtaining of a fairness opinion. The transaction does require approval by Security Tag shareholders and expiration of regulatory waiting periods."
 Security Tag Systems, Inc develops, manufactures and markets electronic detection systems and loss prevention devices for retail, business, industrial and military markets.
 SECURITY TAG SYSTEMS, INC
 Selected Operating Results
 (unaudited)
 Three months ended Sept. 30 1992 1991
 Current Sales 5,866,876 4,633,027
 Miscellaneous Income 22,609 449
 Total Operating Revenues 5,889,485 4,633,476
 Income Before Income Taxes 142,073 198,870
 Income Tax Provision, Net 10,000 15,000
 Net Income 132,073 183,870
 Net Income Per Share 0.01 0.01
 Weighted Average Number
 of Shares Outstanding 14,590,053 14,541,303
 Six months ended Sept. 30 1992 1991
 Current Sales 10,965,381 8,858,779
 Miscellaneous Income 12,734 38,372
 Total Operating Revenues 10,978,115 8,897,151
 Income Before Income Taxes 204,282 232,914
 Income Tax Provision, Net 12,000 25,000
 Net Income 192,282 207,914
 Net Income Per Share 0.01 0.01
 Weighted Average Number
 of Shares Outstanding 14,588,657 14,525,130
 -0- 10/26/92
 /CONTACT: Carter W. Clarke Jr. of Security Tag Systems, Inc., 813-576-6399, or Burton Arkin of Arkin Associates Ltd., 212-599-2369, for Security Tag Systems/
 (STAG) CO: Security Tag Systems, Inc. ST: Florida IN: SU: ERN


SH -- NY017 -- 4570 10/26/92 08:55 EST
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 26, 1992
Words:394
Previous Article:GALOOB REPORTS FIRST PROFITABLE QUARTER SINCE 1989
Next Article:GM CHAIRMAN RESIGNS
Topics:


Related Articles
SECURITY TAG REVENUES CONTINUE TO RISE
SECURITY TAG SYSTEMS SHARE HOLDINGS ACQUIRED
SECURITY TAG GROWTH TREND CONTINUES
SECURITY TAG SALES GROW 20 PERCENT
SECURITY TAG ANNOUNCES MERGER AGREEMENT WITH SENSORMATIC
SECURITY TAG REVENUE GROWTH CONTINUES
SECURITY TAG REVENUES & PROFITS INCREASE
CHECKPOINT REPORTS RECORD SECOND QUARTER RESULTS
SYNOPSIS OF SENSORMATIC ELECTRONICS CORPORATION PRESENTATION AT SOUTHEAST RESEARCH PARTNERS REGIONAL INSTITUTIONAL CONFERENCE
OPTICAL SECURITY GROUP, INC. ('OPSEC') REPORTS YEAR END RESULTS

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