You are going to want to own this stock at some point...my opinion only...they have really turned the corner here...trading around 11/16...this today
NDC Automation, Inc. Announces Quarterly Results
CHARLOTTE, N.C., July 15 /PRNewswire/ -- NDC Automation, Inc. (OTC Bulletin
Board: AGVS - news) announced results for its fiscal quarter ended May 31, 1999. Net revenues increased to $1,225,864,
compared to $895,302 for the fiscal quarter ended May 31, 1998. The increase is primarily due to the Company's continued
focus on providing turnkey AGV systems and increasing its distribution business. Net income for the second quarter in 1999
was $21,099 compared to a net loss of $218,109 in 1998.
Net revenues for the six months period ended May 31, 1999, increased by 31% to $2,157,893 compared to $1,641,197 in
the same period in 1998. The net loss decreased significantly from $396,880 in 1998 to a net loss of $135,677 in 1999.
Earnings per share was $.01 for the most recent fiscal quarter compared to a loss per share of $.06 in 1998, and a loss of $.04
per share for the most recent six month period compared to a per share loss of $.11 for the corresponding period in 1998.
On May 31, 1999, the Company's backlog was approximately $2,770,000 compared to approximately $1,020,000 one year
earlier.
''We are quite pleased with the second quarter results. Our bookings for the quarter were in excess of $3,000,000 which
significantly increased our backlog. We expanded bookings and revenues with our new Powerway(TM) product line and also
positioned the Company in new markets with our orders from the automotive industry and recent installation at the United
States Postal Service. The recent accomplishments are the result of our diversification strategy,'' says Ralph Dollander,
President of NDC Automation, Inc.
NDC Automation, Inc. provides an integrated package of controls technology and related products to be incorporated into and
used to control Automatic Guided Vehicle Systems (AGVS). The Company also provides turnkey AGVS solutions to
end-users and to system integrators. NDCA's controls hardware and software are designed for optimal flexibility and accuracy
and are well suited for a broad range of vehicle types.
NDC AUTOMATION, INC.
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended Six Months Ended
May 31, May 31, May 31, May 31,
1999 1998 1999 1998
Net revenues $ 1,225,864 $ 895,302 $ 2,157,893 $ 1,641,197
Cost of goods sold 655,657 538,680 1,231,538 972,585
Gross profit $ 570,207 $ 356,622 $ 926,355 $ 668,612
Operating expenses:
Selling $ 171,697 $ 191,104 $ 363,456 $ 356,853
General and
administrative 315,332 303,519 573,811 563,935
$ 487,029 $ 494,623 $ 937,267 $ 920,788
Operating income
(loss) $ 83,178 $(138,001) $ (10,912) $ (252,176)
Net interest expense (62,079) (80,108) (124,765) (144,704)
Income (loss) before
income taxes $ 21,099 $(218,109) $ (135,677) $ (396,880)
Federal and state
income taxes -- -- -- --
Net Income
(loss) $ 21,099 $(218,109) $ (135,677) $ (396,880)
Weighted average
number of common
shares outstanding 3,453,451 3,453,451 3,453,451 3,453,451
Income (loss) per
common share -
basic $ 0.01 $ (0.06) $ (0.04) $ (0.11)
Income (loss) per
common share -
diluted $ 0.01 $ (0.06) $ (0.04) $ (0.11)
Dividends per common
share $ -- $ -- $ -- $ -- |
