Astro-Med, Inc. Reports Record Sales and Strong Earnings in the Second Quarter; Directors Declare Regular Cash Dividend
(firmenpresse) - WEST WARWICK, RI -- (Marketwire) -- 08/23/11 -- Astro-Med, Inc. (NASDAQ: ALOT) reports Net Income of $1,046,000, equal to 14 cents per diluted share, on record sales of $20,336,000 for the Second Quarter ended July 30, 2011.
The Company reported Net Income of $323,000, equal to 4 cents per diluted share, on sales of $17,753,000 for the comparable period of the prior year. Favorable foreign exchange currency rates increased this year's Second Quarter sales by approximately $450,000, or 2.5%, when compared to the previous year. Net Income in the Second Quarter includes income of $300,000 equal to 4 cents per diluted share related to the disposition on an insurance policy.
For the six months ended July 30, 2011, Astro-Med reported Net Income of $1,477,000, equal to 20 cents per diluted share, on sales of $39,196,000. During the comparable six-month period of the prior year, Net Income was $753,000, equal to 10 cents per diluted share, on sales of $34,830,000.
Commenting on the results, Everett V. Pizzuti, President and CEO stated, "We are very pleased to have achieved record-breaking sales in the Second Quarter. Beating $20 million is a milestone for us. We are especially encouraged to see the sales growth experienced across all three Product Groups. The , , and Product Groups all reported double digit sales growth ranging from 23.7% for T&M, including sales of , 14.6% for Grass, including sales of the , and 11.2% for QuickLabel, including sales of the new .
"Our success was equally evident among the Company's multiple channels of distribution. Specifically, sales through our domestic markets rose 13.3% from the prior year, while international shipments grew 17.6% from the previous year.
"We are also pleased with the Company's improved profitability in the Second Quarter, with operating margins nearly doubling to 6.0% of sales from the prior year's operating margins of 3.1% of sales.
"Our Balance Sheet remains strong with cash and marketable securities at $20,229,000; a solid Working Capital position reflecting Accounts Receivable turnover at 53 days; inventories turns at 3.6 times or 101 days on hand; and an improved current ratio of 6.8:1.
"Notwithstanding the current uncertainty in the global economies, we are cautiously optimistic that Astro-Med will continue its growth and profitability path during the second half of FY 2012. Hence, we are affirming guidance for the full year to have annual sales be $78.0 million to $79.5 million and earnings per share to be 35 cents to 38 cents per diluted share." Earnings Per Share forecast excludes the one time benefit of 4 cents per diluted share related to the life insurance proceeds recognized in the Second Quarter.
On August 22, 2011, the Directors of Astro-Med, Inc. declared the regular quarterly cash dividend of $0.07 per share, payable on October 3, 2011 to shareholders of record as of September 16, 2011.
This call can be accessed at Astro-Med, Inc.'s web site at and is being webcast by Thomson Financial. You can participate in the conference call by dialing
1-800-762-8779 with passcode 4461605.
The Astro-Med, Inc. webcast is also being distributed through the Thomson StreetEvents Network. Individual investors can listen to the call at , Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson StreetEvents () a password-protected event management site.
Following the live broadcast, a webcast of the recorded call will be available for ten days at . A telephone replay of the conference call will also be available for seven days by dialing 1-800-406-7325 with passcode 4461605.
Astro-Med, Inc. is a leading manufacturer of specialty high tech printing systems, electronic medical instrumentation, and test and measurement data acquisition systems. Astro-Med, Inc. products are sold under the brand names Astro-Med®, Grass® Technologies, and QuickLabel® Systems, and are employed around the world in a wide range of aerospace, medical, military, industrial, and packaging applications. Astro-Med, Inc. is a member of the Russell Microcap® Index. Additional information is available by visiting .
Safe Harbor Statement
This news release contains forward-looking statements, and actual results may vary from those expressed or implied herein. Factors that could affect these results include those mentioned in Astro-Med's FY2011 Annual Report and its annual and quarterly filings with the Securities and Exchange Commission.
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 23.08.2011 - 20:00 Uhr
Sprache: Deutsch
News-ID 58505
Anzahl Zeichen: 0
contact information:
Town:
WEST WARWICK, RI
Kategorie:
Micro-electronics & Nanotechnology
Diese Pressemitteilung wurde bisher 202 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Astro-Med, Inc. Reports Record Sales and Strong Earnings in the Second Quarter; Directors Declare Regular Cash Dividend"
steht unter der journalistisch-redaktionellen Verantwortung von
Astro-Med, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
