ADFLEX SOLUTIONS INC (AFLX) 12 1/2 +1 1/8. Supplier of flexible circuit-based
interconnect solutions to the computer, computer peripheral and communication industries reported
extremely strong 4th qtr results, more than doubling Wall Street's consensus estimate of
$0.02 a share. For the period, ADFlex earned $407,000, or $0.05 a share, compared
to a net loss of $11.3 million, or $1.60 per share, for the same quarter of 1995.
Quarterly revenue rose a robust 78% to $46.8 million. Sequentially, revenues rose by
27% over the the 3rd qtr and gross margins improved to 14%, which company said enabled it to
return to profitability. Company noted that revenue growth was broad-based, as the
communication, notebook computer, hard disk drive and storage array application segments all
posted higher sales than the previous quarter. Citing a 1st qtr backlog of $43.4 million, company is
bullish on its prospects for the next fiscal year. |
