Printer Friendly

WINLAND ELECTRONICS ANNOUNCES FISCAL 1991 RESULTS

 WINLAND ELECTRONICS ANNOUNCES FISCAL 1991 RESULTS
 MINNEAPOLIS, Minn., March 10 /PRNewswire/ -- Winland Electronics,


Inc. announced today operating results for the fiscal year 1991. Sales for the year ended Dec. 31, 1991 were $2,305,852 compared with $3,591,613 reported one year ago. The company recorded a loss of $243,134, or $.120 per share, compared with net income of $18,253, or $.010 per share last year.
 Management said that fiscal 1991 sales were adversely affected by decreased purchases from original equipment manufacturers (OEM) who were reluctant to build inventory levels during the recession. Management also noted that the company's net loss was primarily affected by a write-down of inventory resulting from its decision to eliminate the company's retail product line.
 W. Kirk Hankins, president, stated, "By eliminating our retail product line we have been able to focus on our higher margin proprietary items. Sales of these proprietary products, as a percentage of total sales, have continued to increase in spite of the softness in the OEM market."
 Winland Electronics, Inc., based in Mankato, Minn., designs, manufactures, and markets electronic and electro-mechanical products and assemblies. The Company's common stock is traded on the Minneapolis/St. Paul Over-the-Counter market and is listed on the Pink Sheets.
 WINLAND ELECTRONICS, INC.
 12/31/91 12/31/90
 INCOME
 Sales $2,305,852 $3,591,613
 Cost of Sales (1,739,872) (2,676,773)
 GROSS PROFIT ON SALES $565,980 $914,840
 OPERATING EXPENSES
 General & Administrative $516,119 515,694
 Marketing 170,174 201,279
 Research & Development 35,620 90,939
 TOTAL OPERATING EXPENSES $721,913 $807,912
 Operating Income (Loss) (155,933) 106,928
 Miscellaneous Income (422) 26,082
 Interest Expense (86,779) (114,757)
 NET INCOME $(243,134) $18,253
 Net Income Per Share $(.120) $.010
 Number of Shares Outstanding 2,002,811 2,002,811
 -O- 03/10/92
 /CONTACT: W. Kirk Hankins (CEO), Winland Electronics, 507-625-7231; or Chris Sellwood of DEPETRA & ASSOCIATES, INC., 612-338-7630, for Winland Electronics/ CO: Winland Electronics ST: Minnesota IN: CPR SU: ERN


KH -- MN012 -- 7048 03/10/92 16:32 EST
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:Mar 10, 1992
Words:348
Previous Article:BARBARA WYCKOFF JOINS HE-RO GROUP AS SENIOR VICE PRESIDENT OF PRODUCT DEVELOPMENT
Next Article:ZIMMERMANN APPOINTED EXECUTIVE VICE PRESIDENT BY NEW VENTURE GEAR BOARD OF DIRECTORS
Topics:


Related Articles
WINLAND ELECTRONICS POSTS PROFITS ON REDUCED THIRD QUARTER SALES
WINLAND ELECTRONICS REPORTS STRENGTHENED OPERATING PERFORMANCE ON FIRST QUARTER PROFIT AND 34 PERCENT INCREASE IN REVENUE
WINLAND ELECTRONICS, INC. ANNOUNCES THIRD QUARTER OPERATING RESULTS
WINLAND ELECTRONICS, INC. REPORTS YEAR-END PROFITABILITY ON INCREASED SALES
WINLAND ELECTRONICS FIRST QUARTER SHOWS CONTINUED GROWTH IN NET INCOME AND SALES
WINLAND ELECTRONICS, INC., REPORTS STRONG THIRD QUARTER SALES AND EARNINGS PERFORMANCE
WINLAND ELECTRONICS' FIRST QUARTER OPERATING PERFORMANCE SETS RECORD-SETTING PACE
WINLAND ELECTRONICS' BOARD ELECTS THOMAS E. BROCKMAN VICE PRESIDENT OF ENGINEERING
WINLAND ELECTRONICS COMPLETES $750,000 PRIVATE EQUITY OFFERING
WINLAND ANNOUNCES LISTING ON THE NASDAQ SMALLCAP MARKET

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