Printer Friendly

VMX ANNOUNCES RECORD FISCAL 1992 RESULTS; REVENUES INCREASE 25 PERCENT

VMX ANNOUNCES RECORD FISCAL 1992 RESULTS; REVENUES INCREASE 25 PERCENT
 SAN JOSE, Calif., July 30 /PRNewswire/ -- VMX, Inc. (NASDAQ: VMXI) today reported that total revenues for the fiscal year ended June 30, 1992 were $71,024,000, compared to $56,789,000 in fiscal 1991, an increase of 25 percent. Net income for the fiscal year ended June 30, 1992 was $4,685,000, or 19 cents per share, compared with a net loss of $4,146,000, or 18 cents per share, for the fiscal year ended June 30, 1991.
 Total revenues during the fourth quarter of fiscal 1992 were $19,828,000, an increase of 23 percent over total revenues of $16,174,000 in the fourth quarter of fiscal 1991. Net income for its fourth quarter of fiscal 1992 was $1,967,000, or 8 cents per share, compared to net income of $221,000, or 1 cent per share, reported for the fourth quarter of fiscal 1991, a $1.7 million increase.
 "VMX's new product platform, consisting of the VMX 200 and VMX 300 systems, has been the catalyst for our performance turnaround this year," said VMX Chief Executive Officer Pat Howard. "The VMX 200 has proven extremely competitive in the middle market segment and the VMX 300 has given us renewed strength at the high end of the business systems (CPE) market. Our investments in international sales and marketing are also yielding positive results evidenced by growing worldwide market demand for VMX(R) products and services. Productivity gains and continuous attention to cost management have played major roles in producing a $9 million bottom line improvement in fiscal 1992 on revenue growth of $14 million."
 During the fourth quarter, VMX systems were purchased by prominent organizations including US Sprint, Mead Data Central, Nissan, US Coast Guard and US Navy. VMX, Inc.
 VMX designs, manufactures and markets a complete line of Integrated Voice Processing systems and software. The product line allows the functional integration of voice with data and image on a single platform, turning the touchtone telephone into an information Workstation. VMX products are sold directly by VMX's National Accounts sales force and distributed by VMX Systems Companies (VMX-owned subsidiaries), D.I.A.L.PRO(R) Systems Companies (independent value- adding resellers) and OEMs in major markets worldwide. The company is headquartered in San Jose, Calif.
 VMX, INC.
 Consolidated Statements of Operations
 (in thousands, except per share amounts)
 Three Months Ended Year Ended
 June 30, June 30,
 1992 1991 1992 1991
 Revenues:
 System and service $18,840 $15,734 $68,100 $55,293
 License and royalty 988 440 2,924 1,496
 Total 19,828 16,174 71,024 56,789
 Cost and expenses:
 Costs of revenues 7,824 6,863 28,867 25,785
 Research and development 1,747 1,422 6,176 7,505
 Selling, general
 and administrative 8,304 7,779 31,570 28,509
 Total 17,875 16,064 66,613 61,799
 Income (loss) from
 operations 1,953 110 4,411 (5,010)
 Interest income, net 232 111 794 864
 Income (loss) before
 income taxes 2,185 221 5,205 (4,146)
 Provision for income taxes 218 --- 520 ---
 Net income (loss) $1,967 $221 $4,685 $(4,146)
 Earnings (loss) per common
 and common equivalent
 share 8 cents 1 cent 19 cents (18 cents)
 Condensed Consolidated Balance Sheet Information
 June 30,
 1992 1991
 Cash and equivalents $13,121 $12,263
 Current assets 33,051 28,179
 Total assets 41,750 35,800
 Current liabilities 10,756 9,851
 Stockholders' equity 30,103 24,892
 -0- 7/30/92
 /CONTACT: Bruce C. Pollock, ext. 4340, or Ellen Pensky, ext. 4366, both of VMX, 408-441-1166; and Cathy O'Rourke of Rourke & Company, 617-267-0042 ext. 308, for VMX/
 (VMXI) CO: VMX, Inc. ST: California IN: CPR SU: ERN


DD -- NE010 -- 4910 07/30/92 08:29 EDT
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:Jul 30, 1992
Words:643
Previous Article:DELMARVA DECLARES DIVIDENDS
Next Article:BALLY MANUFACTURING CORPORATION ANNOUNCES CONTINUED IMPROVEMENT IN RESULTS FOR SECOND QUARTER AND FIRST SIX MONTHS
Topics:


Related Articles
SPEC'S MUSIC EARNINGS INCREASE SIGNIFICANTLY
MCDONALD & COMPANY ANNOUNCES RECORD RESULTS; DIVIDEND INCREASE
MCDONALD & COMPANY ANNOUNCES RECORD RESULTS; DIVIDEND INCREASE
MAIL BOXES ETC. ANNOUNCES RECORD FOURTH QUARTER RESULTS
ALLOU HEALTH & BEAUTY CARE ANNOUNCES RECORD EARNINGS AND REVENUES FOR FY1992; EPS UP 25 PERCENT DESPITE THE DOUBLING OF SHARES OUTSTANDING
READER'S DIGEST REPORTS RECORD FISCAL 1992 RESULTS; EIGHTH STRAIGHT YEAR OF RECORD PROFITS
VMX ANNOUNCES INCREASE IN NET INCOME AND REVENUES FOR FISCAL 1993 FIRST QUARTER
APPLE COMPUTER REPORTS RECORD REVENUES AND EARNINGS
VMX NAMES NEW DIRECTOR OF MULTINATIONAL ACCOUNT DEVELOPMENT
FLEETWOOD REPORTS HIGHER EARNINGS FOR FOURTH QUARTER AND FISCAL YEAR 1993

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters