Printer Friendly

ZEUS COMPONENTS REPORTS RESULTS FOR FOURTH QUARTER AND FISCAL YEAR

 PORT CHESTER, N.Y., Jan. 8 /PRNewswire/ -- Zeus Components, Inc. (NASDAQ: ZEUS), a leading distributor of military semiconductors and manufacturer of high reliability power hybrid circuits, reported a consolidated loss of $672,000 or $.25 per share, on revenues of $22,680,000 for the fiscal fourth quarter ended Sept. 30, 1992. In the comparable 1991 period, the company had a loss of $639,000 or $.24 per share, on revenues of $25,091,000.
 The company had a loss from operations for the 1992 fiscal year of $2,161,000 or $.80 per share. The company sustained a loss from operations of $300,000 or $.11 per share for fiscal 1991. The net loss for the 1992 fiscal year was $2,132,000 or $.79 per share inclusive of an extraordinary gain of $29,000 or $.01 per share related to the extinguishment of debt. Net income in 1991 was $28,000 or $.01 per share, including an extraordinary gain of $326,000 or $.12 per share related to the extinguishment of debt. The results for 1991 include the operations of Omnirei from the acquisition date of June 26, 1991.
 Despite the overall loss for the year and the decline in sales on a consolidated basis, management continued to be pleased with the progress which has been made by its Omnirei subsidiary since its acquisition in 1991, and remains optimistic about its future contributions to the company's growth.
 The company's new Zeus Special Services subsidiary formed to provide its customers with custom value-addeed services obtained its first major order during the fiscal year. Management believes that the subsidiary will be an important component of the company's diversification efforts within its niche market.
 ZEUS COMPONENTS, INC. AND SUBSIDIARIES
 Quarterly Financial Information
 (000's omitted, except per share data)
 1992 Fiscal Quarters
 First Second Third Fourth 1992
 Net sales $23,020 $23,524 $22,474 $22,680 $91,698
 Gross profit 5,467 5,592 5,159 5,041 21,259
 Total selling,
 general &
 admin. exps. 5,688 5,372 5,126 5,052 21,238
 Interest exp. &
 amortization of
 deferred note
 issuance costs 602 588 546 661 2,397
 Loss before
 extraord. item (631) (318) (540) (672) (2,161)
 Extraord. item -- -- 29 -- 29
 Net loss $ (631) $ (318) $ (511) $ (672) $(2,132)
 Loss per share
 bef. extraord.
 item $(.23) $(.12) $(.20) $(.25) $(.80)
 Extraord. item -- -- .01 -- .01
 Net loss per shr. $(.23) $(.12) $(.19) $(.25) $(.79)
 No. of shares
 used in
 computation 2,707,386 2,696,571 2,695,571 2,695,571 2,695,571
 1991 Fiscal Quarters
 First Second Third Fourth 1991
 Net sales $21,042 $26,248 $24,064 $25,091 $96,445
 Gross profit 5,176 6,083 5,631 5,733 22,623
 Total selling,
 general &
 admin. exps. 4,961 5,102 5,015 6,052 21,130
 Interest exp. &
 amortization of
 deferred note
 issuance costs 441 422 405 689 1,857
 Inc. (loss) bef.
 extraord. item (142) 353 128 (639) (300)
 Extraord. item 268 44 14 -- 326
 Net inc. (loss) $ 126 $ 397 $ 142 $ (639) $ 26
 Inc. (loss) per
 share before
 extraord. item $(.05) $.13 $.05 $(.24) $(.11)
 Extraord. item .10 .02 -- -- .12
 Net loss per shr. $ .05 $.15 $.05 $(.24) $ .01
 No. of shares
 used in
 computation 2,695,571 2,700,607 2,715,334 2,712,015 2,695,571
 -0- 1/8/93
 /CONTACT: Martin S. Fawer, treasurer and chief financial officer of Zeus Components, 914-937-7400/
 (ZEUS)


CO: Zeus Components, Inc. ST: New York IN: CPR SU: ERN

AH-KG -- NY058 -- 3199 01/08/93 17:11 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 8, 1993
Words:595
Previous Article:BELL CANADA ANNOUNCES SWISS FRANC DEBT ISSUE
Next Article:LOCATE ANNOUNCES PURCHASE AGREEMENT WITH SOUTHWESTERN BELL
Topics:


Related Articles
ZEUS COMPONENTS REPORTS FOURTH-QUARTER LOSS, PROFIT FOR YEAR
ZEUS COMPONENTS REPORTS FIRST QUARTER LOSS
ZEUS COMPONENTS REPORTS SECOND QUARTER LOSS
ZEUS COMPONENTS REPORTS THIRD QUARTER RESULTS
ANAREN ANNOUNCES FISCAL YEAR-END RESULTS
PARKER REPORTS INCREASED REVENUE, WRITEOFF
DATA RESEARCH ANNOUNCES FY 1992 EARNINGS UP 37 PERCENT; FURTHER REDUCTION OF LONG-TERM DEBT AFTER YEAR-END
TOROTEL EXPECTS FOURTH QUARTER LOSS AS IT INCREASES PENETRATION OF COMMERCIAL MARKETS
COMPUTER MOTION REPORTS RECORD REVENUE.
Bio-Vascular Reports Fourth-Quarter and Year-End Results; Company Achieves Strong Gains in Quarter and Year.

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