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Technology Stocks : AXSI - Axcess Inc. (formerly LASX) -- Ignore unavailable to you. Want to Upgrade?

To: John Arnopp who wrote (819)	3/31/1998 2:53:00 PM
From: leigh aulper	Read Replies (1) \| Respond to of 1220

Lasertechnics Reports 1997 Results Shareholder Vote Set For Today CARROLLTON, Texas, March 31 /PRNewswire/ -- Lasertechnics, Inc. (Nasdaq: LASX) said consolidated net losses applicable to common stock for the year ended Dec. 31, 1997 totaled $13.9 million, or 31 cents a share, compared to consolidated net losses of $13.3 million, or 39 cents a share, a year ago. The weighted average shares of common stock outstanding during the year increased to 44,684,785 from 34,339,313 in 1996. Consolidated revenue for the year just ended was $11.1 million, versus $17.6 million in 1996. Lasertechnics indicated the losses for 1997 were mainly due to lower revenue and resulting increased operating losses at its Sandia Imaging Systems unit, a majority-owned subsidiary, and financing costs at the corporate level. Approximately $0.07 a share was attributable to interest and preferred stock dividends. Operating expenses for 1997 dropped to $13.6 million from $15.0 million a year ago. G&A and R&D costs decreased slightly, and selling and marketing expenses increased by approximately $300,000. A restructuring charge of $1.3 million in 1996 did not recur in 1997. The loss from operations was $10.2 million in 1997 versus $9.6 million, including the restructuring charge, a year ago. Shareholders Meeting Today At a Special Meeting of Shareholders today in Dallas, the company is seeking approval for a 20:1 reverse stock split, a decrease in authorized shares, and a corporate name change to AXCESS Inc. to more accurately reflect its new strategy for growth in the corporate security market. The new business plan allows the company to leverage its strengths in card-mounted biometric security and broaden its involvement in access control systems and equipment, one of the fastest growing segments of the security market.