Astro-Med, Inc. (ALOT) reports sales of $12,132,000 with a net loss of $194,000, equal to a 5 cent loss per share for the Second Quarter ending August 4, 2001.
For the corresponding period of the prior year, sales were $13,382,000* with net income of $268,000, equal to 6 cents net income per common share.
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For the six-month period of the current fiscal year, sales were $24,568,000 with a net loss of $44,000, equal to 1 cent loss per common share. For the corresponding six-month period in the prior fiscal year, sales were $25,910,000* with net income of $426,000, equal to 10 cents net income per common share.
Mr. Albert W. Ondis, Chief Executive Officer, stated: “Our Second Quarter results were impacted by the worldwide economic slowdown and the continued strength of the U.S. dollar.”
“We experienced declines in sales during the quarter in both our domestic and international markets. While sales are lower this year we are encouraged by the Second Quarter incoming order rate, which is ahead of the first quarter and ahead of last year’s Second Quarter.
“Internationally, the sluggish European economy together with a strong U.S. dollar have hampered the Company’s sales growth.
“We believe that with an improvement in the economy and acceptance by the marketplace of our new products, we will exceed the results delivered in the Second Half of last year.”
On August 20, 2001, directors of Astro-Med, Inc. declared the regular quarterly cash dividend of 4 cents per common share, payable on October 4, 2001 to shareholders of record on September 14, 2001.
The Second Quarter Fiscal Year 2002 Conference Call will be held on Wednesday, August 22, 2001, at 11:00 AM EST. It will be broadcast in real time over the Internet. Access is simple by clicking on the Investor Relations page of our website, www.astromed.com, and then clicking on the Webcast icon. We invite you to listen in on August 22nd, or access the broadcast any time for up to 30 days following the event.
