Earnings!!!! Right On!!!
ATEC Group Inc. Reports Second Quarter Results
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Feb. 4, 1998--
Record Revenue For Quarter
Net Income Increase of 59% Earnings Per Share Increase Of 67%
ATEC Group Inc. (NASDAQ:ATEC), a leading provider of computer solutions, today announced results for the three months ended Dec. 31, 1997. Net income for the three months increased 59% to $579,397, or $.10 per share, compared to $363,824, or $.06 per share for the three months ended Dec. 31, 1996. Revenues were $36,138,869, up 40% from $25,783,789 for the prior year.
Surinder Rametra, chairman and chief executive officer, stated: "The strong quarter is the result of continued growth within our company and expansion within the organization, aggressively seeking to improve, as well as add, new innovative technology and services to our existing product lines. With this strategy, the company expects to maintain the consistent and significant increases it has experienced in its financial results."
ATEC Group Inc. is a leading system integrator and provider of a full line of information technology products and services to business, professionals, government agencies and educational institutions. ATEC offers leading computer hardware, software, connectivity devices, multimedia products, data communication via satellite, video conferencing, Internet, Intranet and Y2K solutions to their clients. -0- *T
ATEC GROUP INC.
Financial Highlights
For the Six Months Ended For the Three Months Ended
12/31/97 12/31/96 12/31/97 12/31/96
Net Revenues: $69,211,424 $51,422,875 $36,138,869 $25,783,789 Net Income: 1,050,500 764,425 579,397 363,824 Basic and Diluted Earnings Per Share: $.18 $.14(i) $.10 $.06(i) Weighted Average Common Shares Outstanding: 5,898,668 5,632,148(i) 5,963,168 5,632,148(i)
(i) Shares outstanding and earnings per share have been restated to
reflect the increase in shares issued upon the conversion of
preferred stock due to market price changes and 1 for 5 stock
split in November 1997. *T
CONTACT:
Continental Capital & Equity Corp.
Michael Irving, 407/682-2001
or
ATEC Group Inc.
Seema Wasil, 516/231-2832 (ATEC) |
