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STANDARD LOGIC REPORTS PROFIT AND HIGHER REVENUES IN 1991

      STANDARD LOGIC REPORTS PROFIT AND HIGHER REVENUES IN 1991
    ANAHEIM, Calif., Nov. 21 /PRNewswire/ -- Standard Logic Inc. (NASDAQ: STDL) today reported the results of operations for its fiscal year ended Oct. 31, 1991.
    Earnings were $1,017,000, or $0.12 per share, in 1991, compared with a net loss of $221,000, or $0.03 per share, in the fiscal year ended Oct. 31, 1990.
    Revenues were $2,467,000 in 1991, more than double the revenues of $1,127,000 in 1990.
    Earnings in the fourth quarter of fiscal 1991 were $603,000, or $0.07 per share, on revenues of $1,244,000, vs. a net loss of $78,000, or $0.01 per share, on revenues of $451,000 in the fourth quarter of fiscal 1990.
    Wes Baumgardner, chairman and chief executive officer, reported that operating expenses were reduced by 15 percent in fiscal 1991. He noted that his company's cash position tripled in 1991, to nearly $1 million, and its total assets and shareholders' equity both grew by some 250 percent.
    Appoint Acquisition on Schedule
    Baumgardner said that the previously announced acquisition of Appoint Inc. in Paso Robles, Calif., is proceeding on schedule and the definitive agreement is expected to be signed in January 1992. Standard Logic will distribute a proxy statement to its shareholders, and the acquisition is expected to be approved at an annual shareholders' meeting tentatively scheduled for March 1992, Baumgardner said.
    Appoint is a privately held designer and manufacturer of high dexterity, portable computer-input pointing devices.  Appoint's products include MousePen Professional and Flash Point, the world's only pen-shaped computer mice; Thumbelina, the world's smallest portable hand-held trackball and F-13, a complete trackball mechanism the size and shape of a single keyboard key, sold to original equipment manufacturers.
    Appoint's retail products are sold worldwide through a network of major wholesale distributors, Baumgardner said.  He added that, "Appoint is one of the fastest growing computer accessory firms in the United States, and we believe it is technically ahead of all of its input device competition."  Baumgardner said that Appoint, founded in 1989, had revenues of more than $1 million in 1990, and is expected to exceed $2.5 million in revenues in 1991.  Growing acceptance of the Appoint product line is demonstrated by the fact that after net sales of some $1.4 million in the first nine months of calendar 1991, the company is expected to ship approximately $1 million in the fourth quarter alone, he said.
    Jack Barrett, chairman and president of Appoint, said that "the merger with Standard Logic will enable us to harness the resources of a public company.  Standard Logic can go to the public markets to generate the funding we need to maintain our accelerated growth, and to continue to develop products that will keep us ahead of our competitors."
    Standard Logic has specialized in the development and sale of electronics products and services for over 25 years.
                         STANDARD LOGIC INC.
                        Summary of Operations
                        Fiscal Year End               Fiscal Year End
                         Oct. 31, 1991                 Oct. 31, 1990
                         (Unaudited)
    Net sales            $2,466,554                     $1,126,762
    Net income (loss)    $1,016,906                      ($221,247)
    Net income (loss)
     per share                $0.12                         ($0.03)
    Weighted average
     number of shares
     outstanding          8,621,500                      6,402,461
                                      Three Months Ended
                        Oct. 31, 1991                  Oct. 31, 1990
                        (Unaudited)                     (Unaudited)
    Net sales            $1,243,584                        $450,502
    Net income (loss)      $582,805                        ($77,713)
    Net income (loss)
     per share                $0.07                          ($0.01)
    Weighted average
     number of shares
     outstanding          8,699,359                        6,672,235
                         STANDARD LOGIC INC.
                           Balance Sheets
                                        Oct. 31,             Oct. 31,
                                          1991                 1990
                                       (Unaudited)
    Assets
      Current:
    Cash and cash equivalents             $981,721          $319,189
    Accounts receivable, net of
      allowance for doubtful accounts
      of $9,904 in 1991 and 1990           316,556           232,938
    Notes receivable                       519,000                 0
    Inventories                            173,880           103,169
    Prepaid expenses                         8,900            19,914
    Total current assets                 2,000,057           675,210
    Property, plant and equipment, net
      of accumulated depreciation of
      $322,758 at Oct. 31, 1991, and
      $249,105 at Oct. 31, 1990            139,279           212,932
    Investments                             75,000                 0
    Note receivable                         50,000                 0
    Other assets                            13,263            19,885
    Total assets                        $2,277,599          $908,027
    Liabilities
      Current:
    Accounts payable                      $102,766           $98,293
    Accrued compensation cost               80,919            49,146
    Customer deposits                      245,060                 0
    Other accrued liabilities              139,759            75,650
    Total liabilities                      568,504           223,089
    Shareholders' equity
    Common stock, $.025 par value,
      authorized 10,000,000 shares,
      issued and outstanding 8,759,351
      at Oct. 31, 1991, and 8,529,351
      at Oct. 31, 1990                     218,984           213,234
    Additional paid-in capital          10,457,144        10,451,394
    Subscriptions receivable               (19,500)          (15,250)
    Retained earnings                   (8,947,533)       (9,964,440)
    Total shareholders' equity           1,709,095           684,938
    Total liabilities and shareholders'
      equity                            $2,277,599          $908,027
    -0-                   11/21/91
    /CONTACT:  Wes Baumgardner, president and chairman of the board of Standard Logic Inc., 619-320-1909; or William F. Coffin or Thomas O. Wick of the Financial Relations Board, 818-783-2400, for Standard Logic/
    (STDL) CO:  Standard Logic Inc. ST:  California IN:  CPR SU:  ERN SE-CH -- LA011 -- 5735 11/21/91 09:05 EST
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Date:Nov 21, 1991
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