MILT 3.124 up .09 Nasdaq...qtr release should be coming any day...1st qtr was a wowser..5.7m shares out, 52wh 5.70:
(PR NEWSWIRE) Miltope Group Inc. Reports First Quarter Operating Results
Miltope Group Inc. Reports First Quarter Operating Results
MONTGOMERY, Ala., May 14 /PRNewswire-FirstCall/ --
Miltope Group Inc. (Nasdaq: MILT) today reported sales and earnings for the
thirteen weeks ended March 31, 2002.
For the thirteen weeks ended March 31, 2002, Miltope reported net earnings
of $1,172,000, or $0.20 per share, compared to a net loss of $311,000, or
$0.05 per share, in the similar period a year ago. Net sales for the thirteen
weeks ended March 31, 2002 were $9,354,000 compared to $9,993,000 in the
similar period a year ago. The significant factors making a positive impact
in Miltope's improvement over First Quarter of 2001 include continued focus on
controlling costs, reduced debt, a more favorable product mix, lower interest
rates and the integration of the IV Phoenix Group, Inc. manufacturing
operations into the Miltope Hope Hull, Alabama manufacturing facility.
Miltope's President and CEO, Thomas R. Dickinson said, "We are starting to
see the results of a plan put in place two years ago that streamlined the
Company to become a least cost provider of quality rugged electronics
products. We have been able to grow revenues by 25% during this period while
also focusing on growing the bottom line from net losses to net income. We
believe the Company is well positioned to achieve continued profitability in
future periods."
For additional information about Miltope and its products and
capabilities, please visit our website at www.miltope.com .
Miltope Group Inc., through its business segments, is engaged in the
design, development, manufacture and testing of computers and computer
peripheral equipment for military, industrial and commercial applications
where reliable operation of the equipment under demanding environmental
conditions is of paramount importance. The Company through its ISO 9001
certified facilities delivers a broad range of computers, computer
workstations, servers, disk cartridges, printers, mass storage systems and
other related products to defense, government and commercial customers.
The matters discussed in this news release that are not historical facts
are "forward looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 and the Company intends that such forward
looking statements be subject to the safe harbors created thereby. The
Company warns that caution should be taken in relying upon any forward looking
statements contained herein, as they involve a number of risks and
uncertainties that may cause the actual results of the Company to be
materially different from any future results expressed or implied by such
forward looking statements. Examples of such risks and uncertainties include,
but are not limited to, future demand for the Company's products and services,
general economic conditions, actions of competitors, termination of contracts
at the convenience of the United States government, customer funding
variations in connection with multi-year contracts and follow-on options, and
other risks and uncertainties. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described herein as anticipated,
believed, estimated or expected. The Company does not undertake any
obligation to update or revise any forward looking statement made by it or on
its behalf, whether as a result of new information, future events or
otherwise.
Miltope Group Inc.
Financial Highlights
For the Thirteen Weeks Ended
March 31, 2002 April 1, 2001
Net Sales $9,354,000 $9,993,000
Operating Income (Loss) 1,276,000 (98,000)
Net Income (Loss) 1,172,000 (311,000)
Net Income (Loss) Per Share $0.20 ($0.05)
Weighted Average Number of Shares
Outstanding 5,872,000 5,872,000
MAKE YOUR OPINION COUNT - Click Here
tbutton.prnewswire.com
SOURCE Miltope Group Inc.
-0- 05/14/2002
/CONTACT: Tom B. Dake of Miltope Group Inc., +1-334-284-8665/
/Web site: miltope.com /
(MILT)
CO: Miltope Group Inc.
ST: Alabama
IN: CPR HRD PEL OTC
SU: ERN
*** end of story *** |
