XSCRIBE CORP. REPORTS RESULTS
XSCRIBE CORP. REPORTS RESULTS SAN DIEGO, Oct. 20 /PRNewswire/ -- Xscribe Corp. (NASDAQ: XSCR)
today reported revenues and earnings for its second quarter, and six months ended Sept. 30, 1992.
For the second quarter ended Sept. 30, 1992, Xscribe achieved a 37 percent increase in revenues. Current quarter revenues were $2,581,000 compared to revenues of $1,880,000 for the same quarter a year earlier. This growth in revenues resulted from Xscribe's new micro-imaging operation and from the continued success of Xscribe's new XEC-2001 software program. This new product also helped increase overall gross margins from 33 percent of revenues in the prior year second quarter to 39 percent of revenues in the current quarter. Net income for the second quarter ended Sept. 30, 1992 was $181,000 ($.02 per share) compared to a net loss of $68,000 ($.01 per share) in the same quarter a year earlier. This improvement resulted directly from the 37 percent increase in sales and a 60 percent increase in gross profit. For the six-month period ended Sept. 30, 1992, Xscribe reported revenues of $4,767,000 and net income of $314,000 ($.03 per share). This compares to revenues of $3,821,000 and a net loss of $207,000 ($.03 per share) for the same period a year earlier. "We are pleased to report our seventh consecutive quarter of improved operating performance over comparable quarters," said Suren G. Dutia, Xscribe's president and chief executive officer. Dutia further stated, "We are particularly encouraged with the growth of our new micro-imaging business. That business, coupled with our new document handling and scanning product line, should help us continue to grow in the future. Our new products and services will compete in the rapidly growing electronic imaging marketplace. We are investing in our future by implementing our plan to enhance Xscribe's growth potential by adding information management products and services that compete successfully in growth markets." Xscribe Corp. designs and markets high-technology software and hardware products for legal professionals including computer-aided transcription systems for court reporters and real-time captioning systems for the hearing impaired. Xscribe's wholly owned subsidiary, U.S. Micro-Imaging Inc., provides micrographics services to a wide range of customers, including attorneys and financial institutions. Xscribe's newly formed subsidiary, U.S. Transcan Technologies, Inc. develops, manufactures and sells document handling and electronic scanning products for electronic imaging applications. XSCRIBE CORP. Selected Financial Data Quarter ended Sept. 30, 1992 1991 Revenues $2,581,000 $1,880,000 Income (loss) from operations 170,000 (75,000) Net income (loss) 181,000 (68,000) Fully diluted net income per share $.02 ($.01) Average shares and equivalent shares outstanding 9,649,000 6,647,000 Six months ended Sept. 30, 1992 1991 Revenues $4,767,000 $3,821,000 Income (loss) from operations 294,000 (222,000) Net income (loss) 314,000 (207,000) Fully diluted net income (loss) per share $.03 ($.03) Average shares and equivalent shares outstanding 9,649,000 6,647,000 -0- 10/20/92 /CONTACT: Bruce C. Myers, VP-operations and CFO of Xscribe, 619-457-5091, ext. 319/ (XSCR) CO: Xscribe Corp. ST: California IN: CPR SU: ERN EH-BP -- SD006 -- 2415 10/20/92 14:42 EDT
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|Date:||Oct 20, 1992|
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