Printer Friendly

STV GROUP, INC. REPORTS $529,000 NET PROFIT FOR FISCAL 1993

 POTTSTOWN, Pa., Nov. 22 /PRNewswire/ -- STV Group, Inc. (NASDAQ: STVI), consulting engineers, architects, planners and construction managers, today reported a net profit of $529,000 or $.33 per share on revenues of $87,361,000 for fiscal 1993, which ended Sept. 30, 1993.
 This compares to a net loss of $576,000 or $.37 per share on revenues of $75,789,000 in the prior fiscal year.
 For the fourth quarter, the firm reported a net profit of $64,000 or $.04 per share on revenues of $21,651,000. In the same quarter of fiscal 1992, STV reported a net loss of $519,000 or $.33 per share.
 Michael Haratunian, STV president and chief executive officer, attributed the 15 percent increase in STV's revenues primarily to improvements in its transportation and international operations. The transition from a loss to profitability has been achieved through continuing cost reductions and successful marketing efforts.
 STV ENGINEERS, INC.
 Financial Summary
 (Unaudited; Amounts in Thousands)
 Periods ended Quarter Fiscal Year
 Sept. 30 1993 1992 1993 1992
 Total Revenues $21,651 $19,950 $87,361 $75,789
 Less Pass-through
 Costs 6,448 6,241 24,669 20,558
 Net Engineering
 Revenues for
 Work Performed 15,203 13,709 62,692 55,231
 Net Income (loss) 64 (519) 529 (576)
 Earnings Per Common
 Share:
 Earnings (loss)
 Per Common Share $.04 $(.33) $.33 $(.37)
 Average Common
 Shares(A) 1,626,892 1,572,851 1,625,921 1,572,411
 (A) Based on weighted average number of shares outstanding.
 /delval/
 -0- 11/22/93
 /CONTACT: Debra B. Trace of the STV Group, 215-326-4600/
 (STVI)


CO: STV Group, Inc. ST: Pennsylvania IN: CON SU: ERN

MK-MP -- PH010 -- 6767 11/22/93 10:47 EST
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:Nov 22, 1993
Words:286
Previous Article:MAXUS ENERGY ANNOUNCES PREFERRED STOCK TRANSACTION
Next Article:NEW VLASIC 'PICKLES TO GO!' GIVES PICKLE LOVERS PORTABILITY
Topics:

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