(BSNS WIRE) Dynatech corrects header in financial tables issued today, May 12
Business Editors
CORRECTION...by Dynatech
In BW1100-5/12, (MA-DYNATECH) Dynatech Corporation Reports
Results for Fiscal 1999, second header on tables should read Twelve
Months Ended March 31, (sted December 31).
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CONTACT: Dynatech Corporation
Allan M. Kline/Steve Cantor
781/272-6100
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(BSNS WIRE) Dynatech Corporation Reports Results for Fiscal 1999
Business/Technology Editors
BURLINGTON, Mass.--(BUSINESS WIRE)--May 12, 1999--Dynatech
Corporation (OTC-BB:DYNA) reported its results for fiscal 1999 ended
March 31, 1999.
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Dynatech Corporation
Consolidated Statements of Operations
(in thousands, except per share data)
Unaudited
Three Months Ended Twelve Months Ended
March 31, December 31,
1999 1998 1999 1998
Sales $ 153,328 $ 119,634 $ 522,854 $ 472,948
Cost of sales 69,703 53,808 228,572 205,522
Gross profit 83,625 65,826 294,282 267,426
Selling, general
and admin. expense 41,489 34,761 149,006 138,310
Product development
expense 13,717 13,432 54,023 54,995
Recapitalization-related
costs -- -- 43,386 --
Amortization of
intangibles 1,531 1,508 6,228 5,835
Amortization of unearned
compensation 542 -- 1,519 --
Operating income 26,346 16,125 40,120 68,286
Interest expense (13,092) (276) (46,198) (1,221)
Interest income 529 762 3,398 3,012
Gain on sale of
subsidiary -- -- 15,900 --
Other income 333 36 59 730
Income before income
taxes 14,116 16,647 13,279 70,807
Income tax provision 6,348 7,098 6,834 29,031
Net income $ 7,768 $ 9,549 $ 6,445 $ 41,776
Income per common share:
Basic $ 0.06 $ 0.57 $ 0.06 $ 2.49
Diluted $ 0.06 $ 0.55 $ 0.06 $ 2.40
Weighted average number
of common shares:
Basic 120,664 16,869 106,212 16,795
Diluted 130,415 17,664 113,625 17,434
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CONTACT: Dynatech Corporation
Allan M. Kline/Steve Cantor
781/272-6100
KEYWORD: MASSACHUSETTS OHIO
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS TELECOMMUNICATIONS
EARNINGS
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
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