Earnings:
Tuesday August 12 7:50 AM EDT
Company Press Release
Scangraphics Reports Second Quarter Results
BROOMALL, Pa.--(BUSINESS WIRE)--August 12, 1997--Scangraphics, Inc. (NASDAQ:SCNG), reported three month
revenues of $1,324,000, an increase of 12.5%, as compared to $1,177,000 a year ago. The loss for the three months ended
June 30, 1997 was $1,422,000 or $.09 per share, as compared to a loss of $670,000 or $.06 per share for the three months
ended June 30, 1996. Additionally, the Company reported six month revenues of $2,282,000, as compared to $2,415,000 a
year ago. The loss for the six months ended June 30, 1997 was $2,756,000 or $.18 per share as compared to a loss of
$1,260,000 or $.12 per share for the same period a year ago.
Laurence L. Osterwise, CEO of Scangraphics, said, ``Last November, when I came to Scangraphics, I spoke of the
excitement of joining the team at Sedona GeoServices and Scangraphics at this pivotal point in their history. Since then, we
have been investing heavily in the future of our Company. I am pleased to report that we have been aggressively growing the
leadership teams within each of our three major business units, Sedona GeoServices, the Technology Resource Centers, and
Tangent Imaging Systems, and I remain highly confident that we will start to see the beginnings of a strong growth pattern
within the next few months. While significant challenges remain, these challenges provide outstanding opportunity for
Scangraphics.''
Scangraphics is a provider of Geographic Information Systems (GIS) database management software products and is a
pioneer and leader in scanning and image processing technology, large document scanners, backfile conversion services, and
imaging software and systems. Its products are marketed internationally through systems integrators and distributors.
Scangraphics is a publicly held corporation, with shares traded on NASDAQ (SCNG). Scangraphics Internet Home Page is:
scangraphics.com . Sedona GeoServices Internet Home Page is: sedonageo.com
Forward Looking Statements
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any
statement containing words such as ``believes'' ``anticipates'' ``plans'' or ``expects'' and other statements which are not
historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are
based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these
forward-looking statements.
Scangraphics is a registered trademark of Scangraphics, Inc. All product names are trademarks or registered trademarks of
their respective companies Tuesday August 12 7:50 AM EDT |
