Thursday March 13 9:21 AM EDT
Applied Cellular Reports 1996 Earnings Per Share up by 190% Posting $0.19
vs. $0.10
Revenues are up by 860% to $19.8 Million vs. $2.3 Million
NIXA, Mo.--(BUSINESS WIRE)--March 13, 1997-- Applied Cellular Technology
today announced calendar year-end earnings per share of $0.19 vs. $0.10 per
share on net income of $626,000 vs. $180,000. Revenues for the reporting
period were recorded at $19.885 million vs. $2.336 million. Weighted
average shares outstanding for the reporting period were booked at
3,329,000 vs. 1,793,000. Shareholders' equity was reported at $18.46
million vs. $3.052 million, with book value at $3.18 per common share vs.
$1.35. Total shares outstanding at year end were reported at 5,799,000 vs.
2,268,000.
Richard J. Sullivan, Chairman and CEO of Applied Cellular Technology
commented, "Applied's performance for 1996 was consistently on track with
management's goals and expectations. The company's strategy of
concentrating on both internal growth and non-dilutive acquisitions was
well orchestrated, and resulted in a superior earnings performance."
In an additional statement Mr. Sullivan stated, "We will continue to
consolidate and build upon the various corporate divisions acquired over
the past two years to support the company's earnings growth trend in
addition to maintaining a focused acquisition program. Preliminary sales
results for the first quarter of 1997 already indicate a sales level of
approximately $17.5 million. Furthermore, the company's ability to maintain
its earnings momentum over the next several years will continue to be
enhanced by the company's industry product superiority."
Statements about the Company's future expectations, including future
revenues and earnings, and all other statements in this press release other
than historical facts are "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such
forward-looking statements be subject to the safe harbors created thereby.
Since these statements (future operational results and sales) involve risks
and uncertainties and are subject to change at any time, the Company's
actual results could differ materially from expected results.
CONTACT: REOVEST Financial, Inc., 303/642-0073
or
North American Corporate Consultants, 803/272-4653
NIXA, Mo., March 13 (Reuter) - Applied Cellular Technology Inc said Thursday that, based on
preliminary results, it expects first quarter sales of about $17.5 million.
In the year-ago first quarter, it had revenues of $1.2 million.
Earlier, it reported earnings for the fourth quarter of $0.07 a share on 5.2 million shares outstanding,
up from $0.04 on 2.3 million shares outstanding. For the year, it earned $0.19 on 3.3 million shares
outstanding, up from $0.10 on 1.8 million shares.
Yearly sales rose to $19.9 million from $2.3 million.
"Applied's performance for 1996 was consistently on track with management's goals and
expectations," Richard Sullivan, chairman, said in a statement. "The company's strategy of
concentrating on both internal growth and non-dilutive acquisitions was well orchestrated, and
resulted in a superior earnings performance."
NIXA, Mo.--(BUSINESS WIRE)--March 26, 1997--
Divisional expansion in computer hardware and services sectors
to increase in 1997; total divisional sales estimated to
increase by 330% from $6 million to $25 million in 1997;
earnings contribution from this division estimated at 5-8 cents
in 1997
Applied Cellular Technology today announced that its wholly owned subsidiary, Universal
Commodities Corp. (UCC), has completed the acquisition of Pizzaro Re-Marketing Inc., further
accelerating the company's expansion of its computer hardware and services division.
The completed transactions will have an effective accounting date contribution as of Jan. 1, 1997.
Terms of the acquisitions were not disclosed; however, management indicated that the total earnings
contributions from this expanded division would be significant to ACTC's overall performance in
1997, contributing between 5-8 cents in earnings per share, based upon a weighted average share
base of 6 million shares outstanding for 1997.
Pizzaro Re-Marketing Inc. is an East Coast-based re-marketer of mainframe computers and
disk/tape memory peripheral products. With a worldwide parts market in excess of $20 million and
limited service/upgrade vending providers, Pizzaro has rapidly carved out a strong market niche over
the last four years to service this market.
Richard J. Sullivan, Applied Cellular Technology's chairman and chief executive officer, stated: "We
will continue to expand the operating efficiencies of this core division throughout 1997. The
computer 'after-market' and service industry has tremendous growth opportunities in asset
management, equipment disposition, and leasing and brokerage activities. Pizzaro's operations
combined with UCC's will afford us the benefit of both increasing market share and expanding
cross-marketing opportunities instantaneously in these growth sectors."
Applied Cellular Technology Inc. is a diversified holding company specializing in communication
interconnect technologies, computer aftermarket products, and customized electrical component
installation and manufacturing.
Statements about the company's future expectations, including future revenues and earnings, and all
other statements in this press release other than historical facts are "forward-looking statements"
within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of
1995. The company intends that such forward-looking statements be subject to the safe harbors
created thereby. Since these statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the company's actual results could differ
materially from expected results.
This company is exhibiting INCREDIBLE GROWTH! It may be by acquisition but is happening at an incredible rate. |
