MLOG Earnings- Strong revenue growth strong earnings!! Blows the 10 cent estimate away
Thursday December 18, 8:30 am Eastern Time
Company Press Release
SOURCE: Microlog Corporation
Microlog Corporation Announces Record 1997 Results
GERMANTOWN, Md., Dec. 18 /PRNewswire/ -- Microlog Corporation (Nasdaq: MLOG - news)
today reported net income of $1.8 million ($0.40 per share) on sales of $8.6 million for the quarter
ending October 31, 1997. These results include a $1.2 million ($0.26 per share) income tax benefit
associated with the expected future realization of the Company's net operating loss carryforwards.
This compares to net income of $1.1 million ($0.23 per share) on sales of $6.7 million for the quarter
ending October 31, 1996, which included a $650,000 ($0.14 per share) income benefit associated with
the expected future realization of the Company's net operating loss carryforwards.
The results for fiscal 1997 are a record net income of $3.7 million ($0.82 per share) on record sales of
$31.8 million, as compared to net income of $2.7 million ($0.59 per share) on sales of $25.7 million for
the fiscal year ending October 31, 1996. The fiscal 1997 net income includes a $1.5 million ($0.33 per
share) income tax benefit as compared to a $650,000 ($0.14 per share) income tax benefit in the prior
year. Net income without this income tax benefit was $2.2 million ($0.49 per share).
''1997 was the Company's third consecutive year of record revenues and net income,'' stated Richard
A. Thompson, President and CEO. ''We made major gains in the European market with the addition of
PTT Telecom, the national telecommunications carrier in the Netherlands, who became a value added
reseller of Microlog's Intela system. Our commercial business within the U.S. continues a path of solid
growth. Eckerd Corporation, which began implementation of our Automated Prescription Refill System
(APRS(R)) in 1996, expanded its use of APRS to an additional 1,100 stores. This will bring the total
installation to 2,800 retail pharmacies.'' Thompson added, ''During the year the Company also
introduced a new UNIX-based product for the collections industry and our government business
continues to be the leading provider of Interactive Communications to the Federal Government. Our
Old Dominion Systems performance analysis business continues to demonstrate profitable growth.''
Headquartered in Germantown, Maryland, Microlog Corporation designs, markets, and supports a
complete family of interactive communications systems and application solutions that improve customer
service and increase productivity, while reducing costs. The Company's products find wide application
in retail, government, health care, utility, media/entertainment, transportation, and many other markets,
with over 14,500 installations worldwide. Microlog's interactive communications products are sold
through its direct sales force as well as through distributors, original equipment manufacturers, and
value added resellers. Microlog is certified ISO 9001, meeting the highest international standard for
quality assurance. For more information, please visit the Microlog home page on the World Wide Web
at mlog.com.
Statements in this news release concerning future results, performance or expectations are
forward-looking statements. Actual results, performance or developments could differ materially from
those expressed or implied by such forward-looking statements as a result of known and unknown
risks, uncertainties and other factors including those described from time to time in the Company's
other filings with the Securities and Exchange Commission, press releases and other communications.
OPERATING RESULTS
For The Fourth Quarter Ended October 31
1997 1996
Revenues $8,592,884 $6,688,768
Net Income $1,832,765 $1,130,164
Earnings Per Share $0.40 $0.23
Weighted average number of
Shares Outstanding 4,616,281 4,616,193
OPERATING RESULTS
For The Year Ended October 31
1997 1996
Revenues $31,767,828 $25,706,735
Net Income $3,731,644 $2,712,734
Earnings Per Share $0.82 $0.59
Weighted average number of
Shares Outstanding 4,550,627 4,566,199
Supplemental Data:
For the For the
Quarter Ended Year Ended
October 31, 1997
Earnings Per Share Without
income tax benefit $0.14 $0.49
SOURCE: Microlog Corporation |
