Beat the street again, this is getting good.
Anacomp Announces Fourth Quarter and Year-End Results; Results Reflect Improved Revenues and Cash Flow
SAN DIEGO, Dec. 1 /PRNewswire/ -- Anacomp, Inc. (Nasdaq: ANCO), a world
leader in information management solutions, today released its financial
results for the fourth quarter and fiscal year ended September 30, 1998. The
results reflect revenue growth for both the quarter and the year as well as
improved EBITDA (earnings before interest, other income, taxes, depreciation,
and amortization) for both periods.
FOURTH QUARTER RESULTS
For the three months ended September 30, 1998, Anacomp reported revenues
of $142.6 million, a 21% increase over the same period a year ago, when the
company had revenues of $117.5 million. EBITDA for the fourth quarter was
$27.0 million, a 27% increase over the $21.2 million reported in the year-ago
period. Fourth quarter results include contributions from the acquisition of
First Image Management Company(R), which was completed in June 1998.
"I am pleased with our performance in the fourth quarter," commented Ralph
W. Koehrer, Anacomp's president and chief executive officer. "Our EBITDA as a
percentage of revenues was 19%, the highest in several years and an indication
that we are moving in the right direction. Our SG&A expense for the quarter
was approximately 18% of revenues, the lowest percentage in some time. Also
contributing to the solid results were the rightsizing we completed in the
fourth quarter and improved system sales company wide. Not only did the
fourth quarter end the year on a positive note, I believe it will provide
momentum for fiscal 1999." |
