(COMTEX) Laser Master International, Inc. Reports Third Quarter And Nine Months
Financial Results
HARRISON, N.J. (Oct. 16) BUSINESS WIRE -Oct. 16, 1998--Laser Master
International, Inc. (OTC Bulletin Board:LMTI) today announced financial
results for the third fiscal quarter ended August 31, 1998.
The Company reported revenues of $4,119,471 for the quarter, up 18%
from the same period in 1997. For the nine months ended August 31, 1998
revenues rose 26% to $10,584,541 from revenues of $8,382,568 reported
for the corresponding period in 1997.
Net earnings for the third quarter of 1998 were $112,443 or $.01 per
share based on 10,615,380 weighted shares outstanding as of August 31,
1998. For the same period in 1997, the Company reported a loss of ($125,
721), or ($.01) per share based on 10,615,207 weighted shares
outstanding as of August 31, 1997.
Net earnings for the nine months ended August 31, 1998 were $146,800,
or $.01 per share as compared to a loss of ($317,375) or ($.03) per
share for the same period one year ago. Management attributes the
increase to higher sales volume from existing customers.
The Company also reports a gross profit increase for the three months
ended August 31, 1998 to 29% as compared to 19% for the same period in
1997. The improved margins were a direct result of the contribution of
the eight color press which prints at faster speeds and requires less
labor per yard. The press is now running for two shifts each day. The
Company anticipates increased usage for the press in 1999, based on its
investment in increased marketing and research and development
activities made this year.
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 Third Fiscal Quarter Ended August 31,
1998 1997
Revenues $4,119,471 $3,482,725
Net Earnings (Loss) $112,443 ($125,721)
Net Income (Loss) Per Share $.01 ($.01)
Weighted Average Common Shares
Outstanding 10,615,380 10,615,207
For the Nine Months Ended August 31,
1998 1997
Revenues $10,584,541 $8,382,568
Net Earnings (Loss) $146,800 ($317,375)
Net Income (Loss) Per Share $.01 ($.03)
Weighted Average Common Shares
Outstanding 10,615,380 10,615,207
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 forwardlooking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
-0- iz/ny*
CONTACT: Kimberly Caplis
Investor/Media Relations
1-800-78-LASER
(914) 6343063
email: kcccomms@msn.com
KEYWORD: NEW JERSEY
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