Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : VISN - Sight Resources -- Ignore unavailable to you. Want to Upgrade?

To: Darrel McPherson who wrote (43)	4/24/1998 10:05:00 PM
From: Daniel	Respond to of 103

biz.yahoo.com , part I: Friday April 24, 9:35 am Eastern Time Company Press Release Sight Resource Reports First Quarter Results Achieves profitability and strong increases in revenue and EBITDA HOLLISTON, Mass.--(BW HealthWire)--April 24, 1998-- Sight Resource Corporation (NASDAQ:VISN - news), a leading provider of primary eye care services and managed vision care programs, today reported financial results for its first quarter ended March 31, 1998. For the first three months of this year the Company reported revenue of $13.6 million, an increase of 31% over revenue of $10.4 million for the prior year period. The Company reported net income of $13,000, or $0.00 per share on a basic and fully diluted basis, compared to a net loss of $387,000, or ($0.04) per share, for the first quarter of 1997. The Company generated positive EBITDA (earnings before interest, taxes, depreciation and amortization) of $615,000 for the first three months of this year, compared to $73,000 for the same period in 1997. First quarter results include the operations of Vision Plaza, a Louisiana based chain which was acquired effective July 1, 1997. Commenting on the results, William T. Sullivan, President and ChiefExecutive Officer of Sight Resource Corporation, stated ''We have continued to move closer to our goal of sustaining profitability. Since my arrival in late January, we have begun to implement improvements designed to control costs and increase top-line revenues. We have also continued our ongoing acquisition strategy with the purchase of Eyeglass Emporium, a profitable, regionally prominent primary eye care chain in northwest Indiana. All of these efforts are directed at achieving our number one priority of improving bottom line performance and increasing shareholder value.'' Sight Resource provides a complete range of primary eye care products and services through its primary eye care centers, managed care programs, laser vision correction centers and integrated networks of opticians, optometrists and ophthalmologists. The Company's wholly-owned subsidiaries include Cambridge Eye Doctors in Massachusetts and New Hampshire, E.B. Brown Opticians in Ohio and Pennsylvania, Vision Plaza in Louisiana and Mississippi, and Vision World in Rhode Island and now Eyeglass Emporium in Indiana. ''Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: Statements contained in this news release which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and additional factors affecting the Company's business are described in the Company's Form 10-K for the fiscal year ended December 31, 1997 filed with the Securities and Exchange Commission. ...

To: Darrel McPherson who wrote (43)	4/24/1998 10:05:00 PM
From: Daniel	Read Replies (2) \| Respond to of 103

part II: ... Sight Resource Corporation and Subsidiaries Selected Financial Information (In thousands, except per share data) Three Month Period Ended March 31, 1998 1997 Net revenue: $ 13,580 $ 10,440 Cost of revenue: 4,752 3,849 Gross margin: 8,828 6,591 Selling, general and administrative expense: 8,895 7,000 Loss from operations: (67) (409) Other income, net: 89 22 Income tax expense: 9 -- Net income (loss): $ 13 ($ 387) Earnings (loss) per share: $ 0.00 ($ 0.04) Weighted Avg. Number of Common Shares Outstanding: 8,785 8,638 EBITDA: 615 73 Contact: Sight Resource Corporation Nils Bonde-Henriksen, 508-429-6916.