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This is the 3rd qtr released yesterday...second qtr was rev of $4.5m and net of $198k or 4 cents. Stock closed yesterday at .16/.19 on OTC BB.
Publishers Equipment Corporation Announces Third
Quarter Results
DALLAS, Nov. 6 /PRNewswire/ -- Dallas-based Publishers Equipment Corporation (OTC Bulletin Board: PECN - news)
today announced net income of $228,000 for the third quarter of 1998 on revenues of $5,529,000. These results compare to a
net loss of $291,000 on revenues of $1,632,000 for the third quarter of 1997. Year to date the Company has net income of
$285,000 on revenues of $12,023,000, which compares to a net loss of $135,000 on revenues of $7,629,000 for the first nine
months of 1997.
Three Months Ended Nine Months Ended
September 30, September 30,
1998 1997 1998 1997
(Unaudited, in thousands)
Revenues $5,529 $1,632 $12,023 $7,629
Net income (loss) 228 (291) 285 (135)
Net income (loss)
per common share
(Basic and Diluted) $0.04 $(0.06) $0.05 $(0.03)
Average shares outstanding
Basic 5,220,253 5,205,719 5,220,253 5,205,719
Diluted 5,249,321 5,291,713 5,270,121 5,306,065
In announcing the third quarter 1998 financial results, Evans Kostas, Chairman and Chief Executive Officer, noted the benefit
of increased domestic and foreign sales in 1998. He also stated that the continuing currency crises in Asia will have an adverse
effect on the Company's performance in the next six months.
The Company's backlog at September 30, 1998, totaled $6 million. This amount includes an order for Saudi Arabia in excess
of $3 million that remains on hold pending the implementation of a restructured payment schedule.
For additional information contact Roger R. Baier, at Publishers Equipment Corporation, 972-931-2312.
SOURCE: Publishers Equipment Corporation |
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