Earnings are out. $0.24 for the quarter (diluted). I think the consensus was $0.23, but I'm not sure if whisper numbers were higher or not....
Equinox Reports Record Quarter And Year-End
Results
SUNRISE, Fla., Jan. 25 /PRNewswire/ -- Equinox Systems Inc. (Nasdaq: EQNX - news) today reported record sales and
earnings for both the fourth quarter and the year ended December 31, 1998.
1998 earnings increased 14% to $0.82 per share (diluted), on sales of $31,327,000 compared to earnings last year of $0.72
per share on sales of $28,373,000.
Fourth quarter earnings increased to $0.24 per share (diluted) on sales of $8,657,000 compared to earnings in the same period
last year of $0.23 per share on sales of $8,157,000.
Bill Dambrackas, Equinox President and founder commented, ''We're pleased to report that growing demand for our products
has resulted in a record quarter and a record year for Equinox. Looking ahead into 1999, we're optimistic that continued strong
product demand, new OEM customers and new product offerings will result in further growth.
''We recently began delivering our SuperSerial product line to our newest private-label OEM customer, a major world-wide
server vendor. Future press releases will discuss details of this new relationship as it progresses.
''Our newest product, the T-1 RAS Digital Modem Pool, was introduced in the fourth quarter of 1998. It continues to meet
with strong customer response and several enhancements scheduled in the first half of this year will position it to serve new and
expanding international markets.''
Equinox, with headquarters in Sunrise, Florida, designs and markets server-based communications products for remote access,
industrial and commercial point-of-sale systems. These products are available world-wide through leading distributors, systems
integrators and VARs. OEM customers include Hewlett-Packard, IBM, AT&T, NCR and Unisys. More information on
Equinox can be found at www.equinox.com .
Equinox Systems Inc.
Summary Consolidated Financial Information
(Unaudited)
(In thousands, except share earnings)
Three Months Ended Year Ended
December 31, December 31,
1998 1997 1998 1997
INCOME STATEMENT DATA:
Net sales $ 8,657 $ 8,157 $ 31,327 $ 28,373
Gross profit 4,394 4,245 16,206 14,422
Operating expenses:
Research and development 803 695 3,117 2,857
Selling, general and admin. 1,717 1,758 6,930 6,092
Income from operations 1,874 1,792 6,159 5,473
Other income 131 171 639 555
Income before income taxes 2,005 1,963 6,798 6,028
Net income 1,344 1,276 4,557 3,907
Weighted average shares
used in diluted computation 5,646 5,457 5,560 5,424
SHARE EARNINGS:
Basic $ 0.25 $ 0.26 $ 0.88 $ 0.76
Diluted $ 0.24 $ 0.23 $ 0.82 $ 0.72
December 31,
1998
BALANCE SHEET DATA:
Cash, marketable securities
and investments $ 18,920
Accounts receivable 5,208
Inventories 5,489
Working capital 25,955
Total assets 34,971
Long-term debt ---
Shareholders' equity 29,347
The forward-looking statements included above are based on current expectations, however, actual results may differ materially
due to risks and uncertainties including: changes in business or economic conditions, competition, product shortages, and the
risk factors listed in the reports that Equinox files with the Securities and Exchange Commission, including the Form 10-Q filed
in November 1998. |
