Wednesday July 15, 10:13 am Eastern Time
Company Press Release
Laser Master International, Inc. Reports Second Quarter And Six Month Financial Results
HARRISON, N.J.--(BUSINESS WIRE)--July 15, 1998--Laser Master International, Inc. (OTC Bulletin Board: LMTI - news) today announced financial results for the second fiscal quarter ended May 31, 1998.
The Company reported revenues of $3,321,955 for the quarter, up 39% from the same period in 1997. Net earnings for the second quarter of 1998 were $69,975, or $.01 per share based on 10,615,380 shares outstanding as of May 31, 1998. For the same period in 1997, the Company reported a loss of ($216,973), or ($.02) per share.
For the first six months of fiscal 1998 the Company's revenues grew to $6,465,070, a 32% increase over the same period in 1997. Net earnings for the six months ended May 31, 1998 were $34,357 or $.00 per share as compared to a loss of ($191,654), or (.02) per share for same period in 1997.
Laser Master International, Inc. Chairman and Chief Executive Officer Mendel Klein said the revenue increase is primarily from increased sales volume to existing customers. ''We are pleased to report this substantial revenue increase. The repairs performed on our eight-color press early this year have made it fully operational and we can now triple our production capacity. This increased capacity not only allows us to handle larger orders from our existing customers, but to also penetrate new markets. To that end, we have hired additional sales representatives to develop the home furnishings, packaging and plate markets. We anticipate revenues will continue to increase for the remainder of the year based on new contracts and orders received.''
Laser Master International, Inc. uses a computerized laser system for industrial and commercial printing and engraving. It provides a comprehensive array of computerized design, pre-press and flexographic printing services and products for the packaging, apparel and home furnishings markets.
Laser Master International, Inc. Financial Highlights
For the Second Fiscal
Quarter Ended May 31,
1998 1997
Revenues $ 3,321,955 $ 2,405,049
Net Earnings (Loss) $ 69,975 ($ 216,973)
Net Income (Loss) Per Share $ .01 ($.02)
Weighted Average Common Shares
Outstanding 10,615,380 10,615,207
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For the Six Months
Ended May 31,
1998 1997
Revenues $ 6,465,070 $ 4,899,843
Net Earnings (Loss) $ 34,357 ($ 191,654)
Net Income (Loss) Per Share ($.00) ($.02)
Weighted Average Common Shares
Outstanding 10,615,380 10,615,207
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The statements in this news release that relate to future plans, expectations, events or performance are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining to customer orders, demand for products and services, development of markets for the Company's products and services and other risks identified in the Company's SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as the date hereof. The Company undertakes no obligations to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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Contact:
Laser Master International
Kimberly Caplis
Investor/Media Relations
1-800-78-LASER
914/634-3063
e-mail: kcccomms@msn.com |
