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.

Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Mykldee who wrote (1724)	5/4/1998 6:45:00 PM
From: ajd/mba	Respond to of 25711

RE: VLAB DD Starting Point Below is a Press Release (NOTE: This cut/paste is MINUS the Forward Looking Statements Disclaimer for the sake of brevity). Anyone else interested in VLAB - please post to their thread. +++++++++++++++++++++++++++++++++++++++++++++++++ VideoLabs, Inc. Announces a Nine Percent Increase in 1st Quarter Earnings and the Closing of an Acquisition PR Newswire - April 21, 1998 18:23 VLAB %CPR %ERN %TNM V%PRN P%PRN ------------------------------------------------------------------------ MINNEAPOLIS, April 21 /PRNewswire/ -- VideoLabs, Inc. (Nasdaq: VLAB) reported today revenues for the first quarter of 1998 of approximately $1.2 million compared to $1.6 million in 1997. This decrease in sales is directly related to the decision in late 1996 to abandon computer related distribution channels that were not profitable which began in the first quarter of 1997. Gross profit in the first quarter decreased from $653,661 in 1997 to $542,040 in 1998. Gross profits as a percentage of sales increased from 41% in 1997 to 45% in 1998. Selling, general and administrative expenses decreased from $607,157 for the first quarter of 1997 to $512,569 for 1998. Net income increased 9% to a profit of $50,399 in the first quarter of 1998 versus a profit of $46,047 in 1997. Chairman and CEO James Hansen said, "We are disappointed in our total sales volumes, but sales in our target markets increased during the quarter as we continue to make progress in increasing market share in niches where we can be profitable." Hansen continued, "Fully diluted earnings per share were unchanged as the approximately doubling in per share price since a year earlier resulted in the diluted shares outstanding growing from 3.1 million to 4.2 million primarily representing warrants that could result, if exercised, in substantial new cash resources for the company over the next nine months." The Company also announced today the completion of its acquisition of the assets of Video Dynamics, Inc., a Florida corporation. James Hansen said, "The Florida operations will be conducted as the Company's healthcare products division. We are pleased with this acquisition because it strengthens the Company's position in the healthcare and medical product market niches." The former principals of Video Dynamics, Richard Cane and Wayne Byard, will continue as employees of the Company. Hansen added, "Their collective experience adds important depth to the Company's research and development capabilities." VideoLabs, Inc. is a publicly traded provider of image capture, transmission and manipulation based solutions for professionals in education, audio-visual, identification and medical markets. The company is located at 5960 Golden Hills Drive, Golden Valley, MN 55416 and can be reached at 612-542-0061 or by fax at 612-542-0069. Internet address is videolabs.com