AML Communications Reports Financial Results for Second Quarter
CAMARILLO, Calif.--(BUSINESS WIRE)--Oct. 16, 1997--AML Communications Inc. (Nasdaq:AMLJ) Thursday
announced financial results for the second quarter of fiscal 1998.
Net sales for the three-month period ended September 30, 1997 totaled $2.8 million, up slightly from first quarter revenues.
Net income for the second quarter totaled $124,000, or $0.02 per share, consistent with company expectations. A year ago in
the comparable period, AML reported net income of $718,000, or $0.11 per share, on revenues of $3.9 million.
For the first six months of the fiscal year, the company reported net sales of $5.3 million, compared with $7.6 million a year
ago. Net income for the six-month period was $236,000, or $0.04 per share, versus net income of $1.3 million, or $0.21 per
share, for the corresponding period in the previous year.
Jacob Inbar, president and chief executive officer, commented on the quarter's results, saying, ''We are beginning to see the
benefits of our new business strategy that targets original equipment manufacturers (OEMs), both domestically and
internationally, while we continue to develop new products to address the needs of the PCS, paging, and cellular markets. Our
goal has been to diversify our sales into new segments of the wireless communications industry.''
Inbar noted that exclusive of the operating results, the quarter was marked by strong demand for multicarrier power amplifiers,
specifically an order valued at $2.6 million from an OEM serving the South American wireless communications market. This
contract was a follow-on to earlier contracts for multicarrier amplifier units to the South American market. The contract's
completion is estimated to be no later than March 31, 1998.
AML Communications Inc., designs, manufactures and markets multicarrier amplifiers, masthead amplifiers and repeaters for
the cellular, PCS, paging and satellite communication markets.
The information contained in this press release contains certain forward-looking statements that involve risk and uncertainties,
such as the statements of the Company's plan, objectives, expectations and intentions. The Company's actual results could
differ materially from those indicated by such statements as a result of various factors, including those discussed in the
Company's Form 10-KSB and Form 10-QSB on file with the SEC. |
