very good numbers coming up here...stock selling around 9/16:
(COMTEX) B: ASTREX INC - Preliminary Basis Continued Strong Second Qu
B: ASTREX INC - Preliminary Basis Continued Strong Second Quarter Results
New York, New York, Oct. 13, 2000 (Market News Publishing via COMTEX) --
Astrex, Inc. reports on a preliminary and unaudited basis, that the results for
the second quarter and the first half of the current fiscal year ended September
30, 2000 ("Second Quarter" and "First Half" respectively) continue the Company's
positive trend with Net Income, Sales, Bookings and Backlog for that Second
Quarter and First Half exceeding the second quarter and first half of the prior,
record breaking, fiscal year.
Specifically, on a preliminary and unaudited basis, the indicated results for
the just ended Second Quarter and First Half as compared to the same periods in
the previous, record breaking, fiscal year are:
* an approximate 210% quarter to quarter increase and an approximate 150% half
to half increase in Net Income (approximately $159,000 as compared to
approximately $51,000 for the second quarters of the current and previous fiscal
years, and approximately $310,000 versus $122,000 for the first halves of the
current and previous fiscal years);
* an approximate 14% quarter to quarter increase and an approximate 16% half to
half increase in Net Sales (approximately $4,600,000 as compared to
approximately $4,004,000 for the second quarters of the current and previous
fiscal years, and approximately $9,125,000 versus $7,858,000 for the first
halves of the current and previous fiscal years);
* an approximate 18% quarter to quarter increase and an approximate 18% half to
half increase in Bookings (i.e. orders), (approximately $4, 840,000 as compared
to approximately $4,097,000 for the second quarters of the current and previous
fiscal years, and approximately $9,560,000 versus $8,076,000 for the first
halves of the current and previous fiscal years); and
* an approximate 11% increase in Backlog (i.e. confirmed but not yet shipped
orders) at October 1, 2000 as compared to the same date in 1999 (approximately
$4,404,000 as compared to $3,957,000).
The Company cautions that these preliminary results reported for the Second
Quarter and First Half of the current fiscal year are in fact just that,
preliminary, are subject to adjustment and have not been subject to audit.
Further, they are in any case only for the Second Quarter and First Half and
thus are not necessarily indicative of what the results will be for the entire
fiscal year. The Company anticipates that it will be filing its 10-QSB report
for the just completed Second Quarter with the SEC in November 2000 and it will
be important for those interested to review that report when it is filed.
This announcement contains forward-looking statements that involve risks and
uncertainties, including those relating to the future business performance of
Astrex. More information about some of the many potential factors which could
affect the Company's business and financial results are included in the
Company's Annual Report on Form 10-KSB for the year ended March 31, 2000,
including (without limitation) under the captions "Description of Business,"
"Description of Property" and "Management's Discussion and Analysis or Plan of
Operation," and in the Company's Quarterly Report on Form 10-QSB for the quarter
ended June 30, 2000, both of which are on file with the Securities and Exchange
Commission (http://www.sec.gov).
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