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THE ALPINE GROUP ANNOUNCES FISCAL 1993 RESULTS

 NEW YORK, July 29 /PRNewswire/ -- The Alpine Group, Inc. (AMEX: AGI) today reported financial results for the fourth quarter and fiscal year ended April 30, 1993.
 For the quarter ended April 30, 1993, the company reported a net loss before extraordinary item of $3,141,000 or $0.32 per share on sales of $8,173,000, compared with a net loss before extraordinary item of $3,309,000 or $0.48 per share on sales of 6,036,000 for the quarter ended April 30, 1992. For the fiscal year ended April 30, 1993, the net loss before extraordinary item was $10,833,000 or $1.26 per share on sales of $32,108,000, compared with a net loss before extraordinary item of $8,873,000 or $1.20 per share on sales of $10,293,000 for the prior fiscal year. The sales increases for the quarter and fiscal year of $2,137,000 and $21,815,000, respectively, resulted primarily from the inclusion of DNE Technologies, Inc. (formerly Dataproducts New England, Inc.), which was acquired in February 1992.
 For the quarter ended April 30, 1993, non-cash charges were $2,593,000 or 82.5 percent of the net loss from operations before extraordinay items. Non-cash charges include accretion of bond discount, depreciation and amortization, stock option expense, debt conversion inducement expenses and valuation reserves for certain real estate. The average number of shares of common stock outstanding during the quarter ended April 30, 1993 was 8,944,270 compared to 7,415,827 for the fourth quarter a year ago.
 Steven S. Elbaum, Chairman and Chief Executive Officer of Alpine, stated, "Fiscal 1993 was a very successful year for the Company, with a number of major accomplishments. These include the signing of a $4.5 million financing package with the State of Connecticut Dept. of Economic Development; the transfer of the PolyVision development plant equipment from France to Connecticut; the completion of Alpine PolyVision's new manufacturing facility in Wallingford, Connecticut; continued strong improvement in our balance sheet; and the signing of the merger agreement with Superior Teletec Inc. which was announced in June 1993."
 Mr. Elbaum continued, "Despite increased PolyVision related R&D and capital expenditures, cash used for operating activities was reduced from $6,078,000 to $1,455,000 during fiscal 1993. This reduction resulted largely from a positive contribution of $3,850,000 made by DNE Technologies, Inc. In addition, during fiscal 1993 the Company significantly increased stockholders' equity through negotiated exchanges and conversions of $9,013,000 of Notes and Debentures and $3,000,000 of preferred stock into Alpine common stock. These exchanges and conversions have not only improved our equity position, but will also substantially reduce the Company's interest burden in fiscal 1994."
 Mr. Elbaum further stated, "With the completion of the Alpine PolyVision production facility in Connecticut, we believe the Company is now positioned for near term commercial start-up. Furthermore, the merger of Alpine and Superior Teletec is expected to play an important role in accelerating the commercialization of PolyVision , as Superior will contribute not only additional financial resources but also a senior management team with significant experience in low cost, high volume manufacturing. We expect the merger and the related purchase of the minority interest in our Alpine PolyVision subsidiary to be completed in October 1993."
 The Alpine Group, Inc. is a holding company with continuing operations in information display and defense electronics and datacommunications businesses. Through its Alpine PolyVision, Inc. subsidiary, Alpine is developing PolyVision , a proprietary flat panel display technology, for commercial applications in a wide variety of markets. Alpine's information display activities also include Posterloid Corporation, which manufactures and markets menuboard display systems to fast food and convenience store markets. A wholly-owned subsidiary, DNE Technologies, Inc., specializes in the advanced design, development, engineering and manufacture of electronic and avionic components and systems.
 THE ALPINE GROUP, INC.
 Summary Income Statement
 (Dollars in Thousands, Except Per Share)
 Twelve Months Ended Three Months Ended
 April 30, April 30,
 1993 1992 1993 1992
 Net sales from
 continuing
 operations $32,108 $10,293 $ 8,173 $ 6,036
 (Loss) from
 operations ($10,833) ($8,873) ($3,141) ($3,309)
 Extraordinary item:
 Net gain on
 extinguishment
 of debt (1,262) 888 (1,212) 234
 Net income (loss) ($12,095) ($7,985) ($4,353) ($3,075)
 Earnings (loss) per
 share of common stock:
 Continuing
 operations ($ 1.26) ($ 1.20) ( 0.32) ( 0.48)
 Gain on (loss)
 extinguishment
 of debt ( 0.14) 0.12 ( 0.13) 0.04
 Net income (loss)
 per share ($ 1.40) ($ 1.08) ($ 0.45) ($ 0.44)
 Average shares
 outstanding 8,944,270 7,415,827 8,944,270 7,415,827
 SUMMARY BALANCE SHEET
 April 30, April 30,
 1993 1992
 Current assets $14,735 $20,143
 Total assets $31,646 $36,707
 Current liabilities $ 7,403 $10,976
 Long-term debt, obligations
 less current portion $13,637 $19,864
 Stockholders' equity $ 10,602 $ 5,867
 -0- 7/29/93
 /CONTACT: June Filingeri, or Bernie Kilkelly, both of Morgen-Walke Associates, 212-850-5600, for Alpine Group, Inc./
 (AGI)


CO: Alpine Group, Inc. ST: New York IN: SU: ERN

LD -- NY004 -- 7105 07/29/93 08:15 EDT
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Date:Jul 29, 1993
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