JMAR Industries Achieves New Third Quarter and Nine-Month Records in
Sales and Earnings
SAN DIEGO (Nov. 5) BUSINESS WIRE -Nov. 5, 1997--JMAR Industries Inc.
(Nasdaq/NM:JMAR) Wednesday announced that it achieved all-time third
quarter and nine-month records in both sales and earnings for the
period ended Sept. 30, 1997.
For the quarter, net income improved to $300,053, or 2 cents per share,
from slightly above break-even in the third quarter of 1996. Operating
income for the quarter nearly quadrupled over the year-ago period,
rising to $261,063 from $70,956 last year. Revenues rose nearly 22
percent to $5,583,611 from $4,577,362 in the third quarter of 1996.
For the first nine months of 1997, net income improved to a record $686,
532, or 4 cents per share, from a net loss of $251,642, or 2 cents per
share, in 1996. Operating income rose to a record $588,411 from $3,553
last year. Revenues for the 1997 nine-month period increased nearly 50
percent to a record $16,397,718 from revenues of $11,068,868 in 1996.
Assessing the company's financial performance, JMAR Chairman and CEO
John S. Martinez, Ph.D., said: "The consistent improvement in JMAR's
financial results over the last several quarters reflects the very
positive direction in which this company is proceeding. However, while
maintaining our efforts to build sales and bring our emerging products
to market, we are also moving aggressively to alleviate the losses we
continue to incur from Cal ASIC that have been hampering our
performance."
Martinez continued: "Excluding the losses from Cal ASIC, JMAR's net
and operating income for the quarter was $644,445, or 3 cents per
share, and $591,927, respectively, while for the nine-month period
without Cal ASIC's losses JMAR achieved net income of $1,517,807, or 8
cents per share and operating income of $1,396,382.
"Therefore, as detailed in a separate news release, we are currently
evaluating other alternatives to capitalize on Cal ASIC's assets and
help it prosper. Options now under consideration include joint
ventures, sale of all or a portion of our ownership interest or direct
third party investment in that operation."
JMAR Industries develops, manufactures and markets precision
measurement, process control and manufacturing systems and laser
products for the microelectronics and medical industries and is a
leading developer of advanced lithography sources for production of
higher performance semiconductors.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: The statements regarding future sales and earnings growth
and the projects or processes currently under development are
forward-looking statements that involve risks and uncertainties that
could cause actual results to differ materially from those set forth in
the forward-looking statements, including delays in technology or
product developments, shipment or cancellation of orders, timing of
future orders, customer reorganizations, fluctuations in demand and the
other risks detailed from time-to-time in the company's reports which
are filed with the Securities and Exchange Commission.
JMAR Industries Inc.
Consolidated Statement of Operations
Third Quarter Ended Sept. 30, 1997
(unaudited)
Three Months Ended Nine Months Ended
Sept. 30, Sept. 30
1997 1996 1997 1996
Total revenue $5,583,611 $4,577,362 $16,397,718 $11,068,868
Income from operations 261,063 70,956 588,411 3,553
Net income (loss) 300,053 11,018 686,532 (251,642)
Earnings (loss)
per share $0.02 $0.00 $0.04 $(0.02)
-0- EW/la* MEM/la
CONTACT: JMAR Industries Inc., San Diego
Dennis E. Valentine, 619/535-1706
jmar.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED EARNINGS MEDICINE
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