SYM-TEK SYSTEMS INC. REPORTS SECOND QUARTER RESULTS
SYM-TEK SYSTEMS INC. REPORTS SECOND QUARTER RESULTS SAN DIEGO, Nov. 3 /PRNewswire/ -- Sym-Tek Systems Inc.
(NASDAQ: SYMK) today announced a profit of $158,000 ($.09 per share) on sales of $6,002,000 for the second quarter ended Sept. 30, 1992, compared to a profit of $614,000 ($.39 per share) on sales of $12,981,000 for the same quarter of the previous fiscal year, according to Ray Twigg, president.
Sales for the six months ended Sept. 30, 1992, were $12,711,000, and the net loss was $1,346,000 ($.87 per share) vs. sales of $23,685,000 and net income of $147,000 ($.09 per share) for the same period of the previous fiscal year. Twigg stated, "The second quarter results included a transaction in which Sym-Tek received $1 million for the sale of its marketing rights to the Advanced Memory Handler currently under joint development with Advantest Corp." Sym-Tek Systems Inc. manufactures and sells electromechanical handles that heat or cool integrated circuits to precise temperatures, place them into position for testing and sort them based on test results. The market for the company's products is driven by worldwide capacity increases for semiconductors as well as the continually changing packages that house the integrated circuits. SYM-TEK SYSTEMS INC. Summary of Financial Results for the Periods Ended Sept. 30 Three months Six months 1992 1991 1992 1991 Net sales $6,002,000 $12,981,000 $12,711,000 $23,685,000 Net income (loss) $158,000 $614,000 ($1,346,000) $147,000 Net income (loss) per share $0.09 $0.39 ($0.87) $0.09 Average shares 1,546,000 1,570,000 1,546,000 1,572,000 -0- 11/3/92 /CONTACT: Ray Twigg, president, or Lowell W. Giffhorn, VP-finance, of Sym-Tek Systems, 619-674-6800; or Tom Gable or Julie Smutko of The Gable Group, 619-234-1300, for Sym-Tek Systems/ (SYMK) CO: Sym-Tek Systems Inc. ST: California IN: CPR SU: ERN
JL-LS -- SD003 -- 1965 11/03/92 10:00 EST
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|Date:||Nov 3, 1992|
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