Ampex Corp (AMEX:AXC) Q4 oper shr $0.05 vs $0.12
Reuters, Monday, February 03, 1997 at 17:17
REDWOOD CITY, Calif., Feb. 3 (Reuter) -
Ampex Corporation
Consolidated Statements of Operations
(in thousands, except share data)
Three months ended
December 31,
1996 1995
Net sales $ 24,229 $ 24,073
Cost of sales 12,936 12,495
Gross profit 11,293 11,578
Selling and administrative 7,755 5,885
Research, development and engineering 4,145 3,952
Royalty income (2,913) (1,419)
Restructuring charges (credits) -- (1,393)
Operating income 2,306 4,553
Interest expense 27 940
Amortization of debt financing costs -- 23
Interest income (857) (291)
Other (income) expense, net 457 (18)
Income from continuing
operations before income taxes 2,679 3,899
Provision for (benefit of) income taxes 486 (562)
Net income from continuing operations 2,193 4,461
Gain of business held for
disposition (net of taxes of $1,137) -- 43,886
Net income 2,193 48,347
Primary income per share:
Income per share from continuing operations
0.05 0.12
Income per share from discontinued operations
0.00 1.19
Income per share 0.05 1.31
Weighted average number
of common shares outstanding 46,645,816 36,919,069
Fully diluted income per share:
Income per share from continuing operations
0.05 0.11
Income per share from discontinued operations
0.00 0.97
Income per share 0.05 1.08
Weighted average number
of common shares outstanding 46,751,307 45,578,199
Year Ended December 31,
1996 1995 1994
Net sales $96,485 $95,662 $127,212
Cost of sales 52,407 51,776 77,417
Gross profit 44,078 43,886 49,795
Selling and administrative 27,084 22,626 24,279
Research, development and
engineering 15,930 15,622 18,844
Royalty income (10,497) (15,006) (7,371)
Restructuring charges (credits)
(453) (2,480) --
Operating income 12,014 23,124 14,043
Interest expense 756 3,775 8,346
Amortization of debt financing cost
85 126 240
Interest income (3,257) (1,145) (774)
Other (income) expense, net 35 40 (10,727)
Income from continuing operations
before income taxes 14,395 20,328 16,958
Provision for income taxes 1,654 921 1,416
Income from continuing operations
12,741 19,407 15,542
Gain of business held for disposition
(net of taxes of $1,137 in 1995) -- 43,886 --
Net income 12,741 63,293 15,542
Primary income per share:
Income per share from
continuing operations 0.28 0.53 0.42
Income per share from
discontinued operations 0.00 1.25 0.00
Income per share 0.28 1.78 0.42
Weighted average number
of common shares outstanding
44,723,031 35,020,101 22,913,304
Fully diluted income per share:
Income per share from
continuing operations 0.28 0.46 0.36
Income per share from
discontinued operations 0.00 0.93 0.00
Income per share 0.28 1.39 0.36
Weighted average number of
common shares outstanding
44,887,403 47,243,566 47,995,875
Copyright 1997, Reuters News Service
Companies or Securities discussed in this article:
Symbol
Name
AMEX:AXC
Ampex Corporation Cl A |
