Publishers Equipment Corporation Releases Second Quarter 1999 Earnings
DALLAS, Aug. 5 /PRNewswire/ -- Dallas-based Publishers Equipment
Corporation (OTC Bulletin Board: PECN) today announced net income of
$20,000 for the second quarter of 1999 on revenues of $3,474,000. These
results compare to net income of $198,000 on revenues of $4,527,000 for the
second quarter of 1998. Year to date the Company has a net loss of
$359,000 on revenues of $5,053,000, which compares to net income of $57,000 on
revenues of $6,493,000 for the first six months of 1998.
Three Months Ended Six Months Ended
June 30, June 30,
1999 1998 1999 1998
(Unaudited, in thousands)
Revenues $3,474 $4,527 $5,053 $6,493
Net income (loss) 20 198 (359) 57
Net income (loss)
per common share
(Basic and Diluted) $ --- $ 0.04 $(0.07) $ 0.01
Average shares
outstanding
Basic 5,234,787 5,220,253 5,234,787 5,220,253
Diluted 5,249,321 5,278,271 5,234,787 5,282,804
In announcing the second quarter 1999 financial results, Evans Kostas,
Chairman and Chief Executive Officer, cited the Company's slow order entry
rate for the first half of the year, which will also have a negative impact on
second half financial results. He noted, however, that the Company's list of
active sales prospects remains encouraging.
The Company's backlog at June 30, 1999, totaled $3.9 million.
For additional information contact Roger R. Baier, at Publishers Equipment
Corporation, (972) 931-2312.
SOURCE Publishers Equipment Corporation
-0- 08/05/99
/CONTACT: Roger R. Baier of Publishers Equipment Corporation,
972-931-2312/
(PECN)
CO: Publishers Equipment Corporation
ST: Texas
IN: PUB
SU: ERN
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