Earnings released this morning - .47 vs. .41 expectations...
HEBRON, Ky.--(BUSINESS WIRE)--Feb. 5, 1997-- Pomeroy Computer Resources Inc today released its operating results for the fourth quarter and year ended Jan. 5, 1997.
For the quarter, total net sales and revenues increased approximately 73 percent to $102.3 million from $59.3 million in the fourth quarter 1995. For the 1996 fiscal year, total net sales and revenues increased approximately 46 percent to $336.4 million from $230.7 million in fiscal 1995.
Net income for the fourth quarter increased 136 percent to $3.1 million, or 47 cents per fully diluted share from $1.3 million or 32 cents per fully diluted share in the comparable period of 1995. For the 1996 fiscal year, net income increased 43 percent to $6.2 million, or $1.14 per fully diluted share from $4.4 million, or $1.08 per fully diluted share in fiscal 1995. Fiscal 1996 results include an after tax charge of $2.6 million or 48 cents per share associated with the settlement and related costs arising from the Vanstar litigation.
A Registration Statement relating to 1,100,000 shares of the common stock of the company has been filed with the Securities and Exchange Commission but has not yet become effective. The shares being offered (1,020,000 shares by the company and 80,000 shares by David B. Pomeroy II, chairman of the board, president and chief executive officer) may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state.
Pomeroy Computer Resources is one of the country's ten largest network integrators and has regional facilities in Kentucky, Iowa, Tennessee, Florida, Alabama, Indiana, North Carolina and South Carolina.
SELECTED FINANCIAL DATA
(in thousands, except per share data)
QUARTER ENDED
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Jan. 5, Jan. 5,
1997 1996
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Revenues $102,323 $59,252
Net income $3,115 $1,319
Weighted shares(2):
Primary 6,653,332 4,116,720
Fully diluted 6,670,348 4,116,720
Net income per common share(2):
Primary $0.47 $0.32
Fully diluted $0.47 $0.32
YEAR ENDED
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Jan. 5, Jan. 5,
1997 1996
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Revenues $336,358 $230,710
Net income(1) $6,232 $4,367
Weighted shares(1)(2):
Primary 5,404,169 4,004,781
Fully diluted 5,467,097 4,043,829
Net income per common share(1)(2):
Primary $1.15 $1.09
Fully diluted $1.14 $1.08
(1) Fiscal 1996 results include an after tax charge of $2,613
(48 cents per share) for the settlement and related costs
arising from the Vanstar litigation.
(2) 1995 restated for a 3 for 2 stock split effected as a stock
dividend on Oct. 4, 1996.
CONTACT: Pomeroy Computer Resources
Addie W. Rosenthal, 606/586-0600, ext. 1424 |
