West Warwick-based Astro-Med Inc. (Nasdaq: A LOT) has reported second-quarter net income of $740,000, or 10 cents per diluted share, on sales of $16.3 million.
Net income for the quarter ended July 29 was $1.28 million, or 17 cents per diluted share, on sales of $31.9 million, the company said in its Aug. 15 news release. That included after-tax expenses of about $86,000, or 1 cent per diluted share.
For the year-ago period, the company posted net income of $622,000, or 9 cents per share, on sales of $14.6 million.
For the six months ended July 29, net income was $1.28 million, or 17 cents per share, on sales of $31.9 million. That included after-tax expenses of about $173,000, or 2 cents per share. For the first half of 2005, the company had posted $1.02 million in net income, or 14 cents per share, on $28.8 million in sales.
“We are pleased with our performance in the Second Quarter,” CEO Albert W. Ondis wrote in the company’s Aug. 15 news release. “All indicators point upward. Sales increased 11% over the corresponding quarter of the prior year, and net income increased by 19%. At $17,426,000, new orders increased 14%, and operating income of $1,017,000 improved 12% ….
“Astro-Med continues to maintain its traditional strong financial condition while investing further in the development of new products and in strengthening its sales and marketing facilities. … Astro-Med is well positioned for significant continuing growth.”
Ondis said several new products are slated for introduction later this year, and those Astr-Med introduced in the past year “are receiving good market acceptance.
On Aug. 14, the board of directors declared a regular quarterly cash dividend of 5 cents per share, payable Oct. 2 to shareholders of record Sept. 8, the company said.
The second-quarter conference call, held Aug. 15 at 5 p.m., was broadcast in real time on the Internet, at www.astro-medinc.com. It will be available at any time for up to five days after the event.