Earnings out - drastically reduced revenues. Is this baby going under?
Headline: Cornerstone Imaging's 4th-Quarter Profit Plummeted As Sales Fell
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NEW YORK -(Dow Jones)- Cornerstone Imaging Inc. (CRNR), a San Jose,
Calif.-based maker of software and hardware to process digital images,
Tuesday said its fourth-quarter net income plummeted, as its revenue
fell 22%. The following summary compares the latest and previous-year
figures for the quarters ended Dec. 31:
1997 1996
Revenue $23,161,000 $29,759,000
Net income 189,000 1,275,000
Average shares (basic) 6,813,000 7,505,000
Average shares (diluted) 6,829,000 7,568,000
Net income/basic* share .03 .17
Net income/diluted** share .03 .17
* - "Basic" earnings per share is calculated by dividing net earnings
applicable to common shares by common shares outstanding. This replaces
"primary" earnings per share, which included common stock equivalents in
the calculation. The year-ago per share amounts are restated to reflect
the current presentation.
** - "Diluted" earnings per share includes options, warrants and
convertible securities in the calculation.
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