Monday November 11 9:40 AM EDT
Personal Computer Products, Inc. Announces Continued Technology Revenue Growth Contributes to Profitable First Fiscal 1997 Quarter
SAN DIEGO--(BUSINESS WIRE)--Nov. 11, 1996--Personal Computer Products, Inc. (NASD symbol: PCPI), today reported that revenues for the first fiscal 1997 quarter ended September 30, 1996 were $3,725,000, which include engineering fees of $1,318,000 and license and royalty income from past products of $275,000. This is a 38% increase from revenues for the corresponding first fiscal 1996 quarter ended September 30, 1995 of $2,691,000, which included engineering fees of $220,000 and no license and royalty fees. Net income was $425,000 for the
quarter ended September 30, 1996 compared to a net loss of $891,000 for the quarter ended September 30, 1995. Primary and fully diluted earnings per share for the first fiscal 1997 quarter was $0.01 compared to a primary and fully diluted loss per share for the first fiscal 1996 quarter of $(0.05).
"The reported earnings are very gratifying and indicate the positive results we are able to attain with our new technology and our highly qualified engineering efforts," said Dr.
Edward W. Savarese, PCPI's(TM) President and Chief Executive Officer. "This represents
continued progress of the Company in its strategic direction. Our emphasis on sales of printer controller technology, including Adobe(R) PostScript(R) Level 2 software and multi-function laser printer controller technology, continues to evolve into our new core business. To facilitate that growth, we are continuing to invest in strengthening our engineering, research and development, which expenditures increased 73% in 1997's first fiscal quarter over the first quarter of fiscal 1996."
Dr. Harry J. Saal, Chairman of PCPI, noted, "This represents PCPI's second consecutive
profitable quarter. We are very encouraged by the strengthening of our balance sheet and I
am enthusiastic about the Company's new technology and its new strategic direction. We
have strengthened our management team this quarter and we have taken a leadership
position in the development of controllers based on the MIPS RISC platform." |
