Dow Jones Newswires -- July 22, 1997
Praegitzer 4Q Net 14c/Share Vs Pro Forma Net 22c
Praegitzer Industries Inc. - Dallas, Ore.
4th Quar June 30:
1997 a 1996
Sales $45,405,000 $28,754,000
Net income 1,736,000 2,521,000
Avg shrs (primary) 12,423,870 11,428,100
Shr earns (primary)
Net income .14 .22
Year:
Sales 147,947,000 95,101,000
Net income b (8,301,000) c 6,916,000
Avg shrs (primary) 12,233,769 9,430,233
Shr earns (primary)
Net income b (.68) c .73
Figures in parentheses are losses.
a. Pro forma as if Praegitzer was a C corporation at the beginning of
the period.
b. Includes non-cash charge related to purchased research and
development, and impairment of goodwill. If excluded, net income
would be $3.3 million, or 27 cents a share.
c. Includes pretax charge of $612,000 related to a lawsuit. If excluded,
net income would be $7.3 million, or 80 cents a share.
Praegitzer Industries Inc. (PGTZ) attributed its lower earnings in the
latest fiscal year to higher-than-anticipated expenses associated with
the startup of the new innerlayer expansion at the company's Dallas
facility and the expansion at the White City facility. The company
also incurred greater-than-expected sales, general and administrative
costs in connection with the acquisition of Trend Circuits and the
restructuring of the nationwide and international sales organization.
Praegitzer Industries Inc. designs and provides fabrication service for
advanced printed circuit boards. |
