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.

Technology Stocks : Microfield Graphics (MICG) $ 2 1/4 -- Ignore unavailable to you. Want to Upgrade?

To: digger who wrote (30)	4/28/1998 2:18:00 PM
From: digger	Read Replies (1) \| Respond to of 43

anybody following this thread? BIG EARNINGS! report out today: Microfield Graphics Inc. Reports First Quarter Results Tuesday, April 28, 1998 07:30 AM PORTLAND, Ore.--(BUSINESS WIRE)--April 28, 1998--Microfield Graphics Inc. (NASDAQ:MICG) today reported sales for the three months ended April 4, 1998, were $2,558,000, an increase of 116% from the prior year's first quarter sales of $1,185,000. The company reported net income for the quarter of $53,000, or $.02 per share, compared with a net loss in the first quarter 1997 of $638,000 or $(.20) per share. "These results are a significant turnaround from our 1997 first quarter results and we are pleased with our record quarter. Shipments to 3M under the OEM agreement announced last July contributed significantly to achieving record sales for the quarter," commented Jack Conroy, president and CEO of Microfield. "This higher sales level resulted in record quarterly net income." "In March we announced the investment in Microfield by Steelcase Inc. and the anticipated negotiation of a product development and purchase agreement with them. Our objective is to pursue additional OEM agreements with suitably positioned companies in our target markets. We are in ongoing discussions with potential major OEM customers, both domestic and foreign." The company's overhead expenses decreased by $133,000 to $1,056,000 compared to $1,189,000 in expense for the first quarter of 1997, a decrease of 11%. "These lower expense levels improve our cash flow in periods of increasing inventory purchasing levels. We are continuing to invest significantly in market development, as well as in new product development," explained Conroy. This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. There are risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including, without limitation, changes in competitive market positions, the success of new products in the marketplace, including the 3M version of SoftBoard, the potential for delays in the completion of design and engineering programs, and the pace of market development. The forward-looking statements should be considered in light of these risks and uncertainties. About Microfield Graphics: Microfield develops, manufactures, and markets computer conferencing and telecommunications products to facilitate group communication. The company's product lines incorporate a series of digital whiteboards and digital rear projection systems under the brand name SoftBoard(R). Information written or drawn on the SoftBoard surface is recorded and displayed on a personal computer in real time and in color using the company's proprietary technology. The information is recorded in a computer file that can be replayed, printed, faxed, e-mailed or saved for future applications. Optional proprietary software allows the information to be communicated in real time to remote computers over standard telephone lines, networks, and the Internet