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Technology Stocks : Equinox Systems (EQNX) -- Ignore unavailable to you. Want to Upgrade?

To: Scott H. Davis who wrote (378)	4/16/1998 9:52:00 AM
From: Phil Bennett	Read Replies (1) \| Respond to of 765

Earnings.... Equinox First Quarter EPS up 74% - Exceeding Estimates SUNRISE, Fla., April 16 /PRNewswire/ -- Equinox Systems Inc. (Nasdaq: EQNX - news) today announced results for the quarter ended March 31, 1998. Diluted earnings per share increased 74% to $0.33 from $0.19 for the same period last year. Sales increased 22% to $7,756,000 from $6,364,000. Bill Dambrackas, Equinox President and founder, commented, ''Sales growth in the first quarter was broad-based with equal contributions across our multi-tier distribution channel and our OEM/direct sales channel. Sales of our bus-attached products grew by 33% and now represent 80% of total sales. ''The key driving factors behind our growth are the declining cost of powerful servers and the growing popularity of Microsoft Windows NT. These trends are continuing to strengthen our confidence that the new Equinox products to be introduced this fall will be well-positioned to benefit from the dynamic growth in server-based communications.'' Equinox, with headquarters in Sunrise, Florida, designs and markets server-based communications products for remote access and commercial applications. Equinox products are available world-wide through leading distributors, systems integrators and VARs. OEM customers include Hewlett Packard, IBM, AT&T, NCR and Unisys. Further information is available at equinox.com . The forward-looking statements included above are based on current expectations, however actual results may differ materially due to risks and uncertainties including: changes in business or economic conditions, competition, product shortages, and the risk factors listed in the reports that Equinox files with the Securities and Exchange Commission, including the Form 10-K filed in March 1998. Equinox Systems Inc. Summary Consolidated Financial Information (Unaudited) (In thousands, except per share amounts) Three Months Ended March 31, 1998 1997 Income Statement Data: Net sales $ 7,756 $ 6,364 Gross profit 4,081 3,123 Operating expenses Research and development 768 754 Selling, general and administrative 1,747 1,348 Income from operations 1,566 1,021 Other income 207 128 Income before income taxes 1,773 1,149 Net income 1,188 735 Weighted average shares used in the diluted computation 3,646 3,850 Share Earnings: Basic $ 0.36 $ 0.20 Diluted $ 0.33 $ 0.19 March 31, 1998 Balance Sheet Data: Cash and marketable securities $ 16,295 Accounts receivable 4,469 Inventories 4,524 Working capital 21,545 Total assets 30,308 Long-term debt --- Shareholders' equity 24,756 SOURCE: Equinox Systems, Inc. More Quotes and News: Equinox Systems Inc (Nasdaq:EQNX - news) Related News Categories: computers