Take a few minutes and break out the 4th qtr here...then compare it to the 3rd qtr and then the 4th qtr last year:
NDC Automation, Inc. Announces Fiscal 1999 Results
CHARLOTTE, N.C., Feb. 24 /PRNewswire/ -- NDC Automation, Inc. (OTC Bulletin Board: AGVS - news; www.ndca.com )
today announced audited results of operations for its fiscal year ended November 30, 1999. Net revenues increased 44.9% from
$4,015,698 in fiscal 1998 to $5,818,222 in fiscal 1999. Operating income increased to $257,662 in fiscal 1999 compared to an
operating loss of $31,418 in 1998.
The Company's management has indicated that the primary reason for the improved results were attributable a strategy that was
implemented in late 1997 allowing the Company to sell more turnkey AGV system when appropriate. In 1999 the Company
recognized a significant portion of its revenues providing such AGV systems to the automotive industry.
The Company generated a net income of $19,753 in 1999 compared to a net loss of $276,283 in 1998. Earnings per share was $.01
for 1999, compared to a loss per share of $0.08 for 1998.
At November 30, 1999, backlog was approximately $1,650,000 compared to $780,000 in 1998.
STATEMENTS OF OPERATIONS
Years ended November 30,
1999 1998 1997
Net revenues $5,818,222 $4,015,698 $4,076,897
Cost of goods sold 3,614,922 2,387,342 2,695,289
Gross profit $2,203,300 $1,628,356 $1,381,608
Operating expenses:
Selling $ 723,162 $ 662,780 $ 693,106
General and
administrative 1,222,476 996,994 1,552,900
$1,945,638 $1,659,774 $2,246,006
Operating income
(loss) $ 257,662 $ (31,418) $ (864,398)
Net interest expense: $ (237,909) $ (244,865) $ (195,962)
Income (loss) before
income taxes $ 19,753 $ (276,283) $(1,060,360)
Federal and state
income taxes (benefit) -- -- --
Net income (loss) $ 19,753 $ (276,283) $(1,060,360)
Basic and diluted earnings
(loss) per share $ .01 $ (.08) $ (.31)
Weighted average common
shares outstanding 3,458,552 3,453,451 3,453,451
Dividends per common
share $ -- $ -- $ --
NDC Automation, Inc. Announces Cooperation
Agreement With Raymond
CHARLOTTE, N.C., March 8 /PRNewswire/ -- NDC Automation, Inc. (OTC Bulletin Board: AGVS - news; www.ndca.com )
announced that it has signed a cooperation agreement with Raymond Corporation (``Raymond'), located in Greene, New York, in
which NDC Automation (``NDCA') has agreed to assume the responsibility for the service and support of Raymond's installed
base of AGV systems in North America. Raymond is a leading manufacturer of industrial forklift trucks such as, reach trucks,
order pickers, Swing-Reach© truck & walkie pallet trucks for a broad range of material handling applications.
``We are very pleased to work with Raymond on this project. This agreement ensures that Raymond's customers and dealers are
offered continued and qualified support of their AGV systems by a company that specializes in AGVS technology and solutions,'
says Claude Imbleau, Chief Operating Officer of NDCA. ``We are impressed by the care and diligence Raymond has
demonstrated in the process leading up to this agreement and we are very much committed to the same focus on customer
satisfaction,' he adds.
``We are confident that NDCA will provide excellent and professional support to all our customers and we look forward to a
successful relationship for all concerned,' states Jim Bennett, VP Sales and Dealer Development at Raymond.
NDC Automation, Inc. provides an integrated package of hardware and software control technology and related products to be
incorporated into and used to control Automatic Guided Vehicle Systems (AGVS). NDCA's sales are primarily targeted to OEMs
and system integrators who buy products and engineering services from the Company and incorporate them into their material
handling systems. The Company also provides turnkey AGVS solutions, up-grades and technical support to end-users. NDCA's
controls are designed for flexibility and accuracy and are well suited for a broad range of vehicle types.
NDC's control technology is operating in over 7,000 vehicles worldwide, over 1,800 of which are laser guided, making NDC a
world leader in AGVS technology and solutions.
SOURCE: NDC Automation, Inc. |
