Optimal Robotics Corp. Reports Record Revenue, Earnings and Installations for the Second Quarter and Six Months
Growing Demand for Self-Checkout Spurs 132% Increase in U-Scan Express Installations
MONTREAL--(BUSINESS WIRE)--July 25, 2000-- Optimal Robotics Corp. (NASDAQ: OPMR - news), North America's leading provider of self-checkout systems to retailers, today announced record results for the second quarter ended June 30, 2000. All references are to U.S. dollars.
Optimal Robotics reported record revenues of $16,123,099 for the second quarter as compared to $7,023,259 for the same period of 1999, an increase of 130%. This significant growth in revenue was the result of increased sales of Optimal Robotics' core product, the U-Scan® Express self-checkout system.
Net earnings for the quarter were a record $1,433,898 or $.11 per share as compared to net earnings of $428,362 or $.05 per share for the second quarter of 1999, an increase of 235%. Fully diluted earnings per share are not reported because they are anti-dilutive.
Revenues were $28,127,258 for the six months ended June 30, 2000 as compared to $12,113,524 for the same period last year. Net earnings for the six months were $2,135,116 or $.17 per share as compared to a net loss of ($146,464) or ($.02) per share last year.
During the second quarter, the Company installed 158 U-Scan® Express systems, the largest quarterly number of installations in its history, and an increase of 132% from 68 systems installed in the second quarter of 1999. For the six months, the Company installed 273 U-Scan® Express systems, an increase of 129% from 119 systems installed in the first six months of 1999.
``Optimal's second-quarter performance reflects continued sequential quarterly growth in revenue and profitability and our established leadership in the self-checkout market, all of which we believe will continue in the future,'' said Holden L. Ostrin, co-chairman of Optimal Robotics. ``Our confidence is based on the strong support of our existing customers and a rapidly increasing number of new retail prospects in the United States, Europe and Canada.''
``As always, we are committed to investing in an infrastructure that will ensure sustainable success,'' Ostrin continued. ``In particular, our new Plattsburgh, New York, facility was officially opened last week by Governor Pataki of New York. The Plattsburgh facility is now fully operational and completely ready to handle the transition to assembly of our U-Scan® Express systems in January 2001. As we bring system assembly in-house, we look forward to more fully leveraging the margin opportunities inherent in our strong growth.''
Optimal Robotics Corp. is the leading provider of self-checkout systems to retailers in North America. The Company's principal product is the U-Scan® Express, an automated self-checkout system which enables shoppers to scan, bag and pay for their purchases with limited or no assistance from store personnel. The U-Scan® Express, which processed more than 45 million customer transactions in 1999, is designed to reduce retailer checkout costs and increase shoppers' convenience. Optimal's systems are installed in leading retailers, including The Kroger Company, Meijer, Inc., Ahold NV, The Great Atlantic and Pacific Tea Co., Inc. (``A&P'') and Wal-Mart Stores, Inc.
This news release contains forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include price and product competition, dependence on new product development, reliance on major customers, customer demand for our product and services, control of costs and expenses, domestic and international growth, general industry and market conditions and growth rates and general domestic and international economic conditions including interest rate and currency exchange rate fluctuations. For a further list and description of such risks and uncertainties, see the reports filed by Optimal with the Securities and Exchange Commission. Optimal disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Consolidated statement of operations and consolidated balance sheet follow. |
