10Q is out: Sales and profits up smartly in 1999 over 1998
Some selected info from the 10Q.
ITEM 5. MARKET FOR REGISTRANTS COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
(a) Market information. The company's common equity is traded on the
Over the Counter Market (OTC BB).
The high and low sales prices for each quarter are as follows:
Quarter High Low Close
------- ---- --- -----
12/31/97 5 1/4 4 3/4 5.00
3/31/98 4 3/8 3 5/16 4 1/8
6/30/98 5 1/8 2 5/8 2 7/8
9/30/98 15.00 6.35 9 3/8
12/31/98 1 7/16 1/2 3/4
3/31/99 1/2 1/8 1/8
6/30/99 3/8 1/16 .11
9/30/99 .25 .062 .125
12/31/99 1.00 .10 .10
RESULTS OF OPERATIONS
COMPARISON OF 1999 TO 1998
Sales increased from $3,940,000 for the year ended December 31, 1998 to
$5,917,000 for the year ended December 31, 1999, an increase of $1,977,000 or
50%. The sales increase is mostly attributable to a large sale to a single
customer in 1999 for approximately $2,500,000. The Company believes that demand
for its products and services increased in late 1999 as there was a recovery in
the semiconductor industry.
The gross profit increased from $1,075,000 in the year ended December
31, 1998 to $2,234,000 in the year ended December 31, 1999, an increase of
$1,159,000 or 108%. The gross profit margin increased to approximately 38% in
1999 from 27% in 1998. The Company's gross profit margins are subject to
volatility because of the factor that each contract is unique and the cost of
the basic tool or piece of equipment for remanufacturing may vary significantly
depending on availability. |
