Welcome!

Microsoft Cloud Authors: Andreas Grabner, Stackify Blog, Liz McMillan, David H Deans, Automic Blog

News Feed Item

Astro-Med, Inc. Reports Record Sales and Orders, Strong Earnings for the Fiscal Third Quarter; Directors Declare Regular Cash Dividend

WEST WARWICK, RI -- (Marketwire) -- 11/20/12 -- Rhode Island-based electronics manufacturer Astro-Med, Inc. (NASDAQ: ALOT) reports Net Sales of $20,562,000 and Net Income of $1,308,000, equal to 18 cents per diluted share for the Third Quarter ended October 27, 2012. Unfavorable foreign exchange rates decreased this year's Third Quarter Sales by approximately $204,000, or 1.0%. For the corresponding period of the prior year, the Company reported Net Sales of $19,569,000 and Net Income of $800,000, equal to 11 cents per diluted share. The previous year's Third Quarter Net Income includes a tax benefit of approximately $113,000, or 2 cents per diluted share, due to a favorable adjustment in the filing of the prior year's tax returns.

For the nine months ended October 27, 2012, Astro-Med reports Net Sales of $58,559,000 and Net Income of $3,131,000, equal to 42 cents per diluted share. Unfavorable foreign exchange rates decreased this year's nine-month sales by approximately $872,000, or 1.5% when compared to the previous year. For the corresponding nine-month period last year, the Company reported Net Sales of $58,764,000 and Net Income of $2,277,000, equal to 31 cents per diluted share. The current year's Net Income includes a tax benefit of $302,000, or 4 cents per diluted share, due to a favorable resolution of a previously uncertain tax position. The prior year's Net Income included income of $300,000, equal to 4 cents per diluted share, related to the disposition on an insurance policy, as well as a tax benefit of approximately $113,000, or 2 cents per diluted share, from a favorable adjustment in the filing of the prior year's tax returns.

On a Non-GAAP basis, Astro-Med has earned 38 cents per diluted share during the current nine-month period of Fiscal Year 2013, compared with earnings of 25 cents per diluted share during the same period of the prior year.

CEO Commentary

Commenting on the results, Everett V. Pizzuti, Astro-Med Inc. President and Chief Executive Officer, said: "We are very pleased with the Company's financial results for the Fiscal Third Quarter. Astro-Med achieved a new record in the volume of new customer orders with Bookings reaching $21,253,000 for the Quarter. This level of new business reflects a 17.2% increase in Orders Received over the previous year's Orders Received after excluding the divested North Carolina label business. Sales Revenue during the Quarter reached record levels with billings at $20,562,000, reflecting a growth rate of 10.4% over the Prior Year's Third Quarter Sales, after excluding the divested NC label business. We experienced growth in both our Domestic and International channels with domestic sales at $14,642,000, increasing by 10.5% over last year after excluding the divested NC label business; while international shipments of $5,920,000 increased 8.8% over the previous year. We also made good progress improving the profitability of the Company's operations with Gross Profit Margins at 43.0% for the Quarter and our Operating Margins at 10.2%. We anticipate this trend to continue.

"Our Balance Sheet remains solid with cash and marketable securities at $22,963,000, an efficient working capital position with Accounts Receivable at 46 Days Sales Outstanding and Inventory levels at 111 Days On Hand; we are debt free and our Book Value per share has risen to $7.74.

"Notwithstanding the uncertainty in today's domestic and international markets, we are cautiously optimistic with Astro-Med's prospects for the 4th Quarter and FY 2013 as a whole. We will continue to drive sales growth and improved profitability from a combination of strategic initiatives, product innovations, selective acquisitions and productivity improvements."

Astro-Med, Inc. Directors Declare Regular Cash Dividend

On November 19, 2012, the Directors of Astro-Med, Inc. declared the regular quarterly cash dividend of $0.07 per share, payable on December 27, 2012 to shareholders of record as of December 7, 2012.

Third Quarter Conference Call to be held Wednesday, November 21, 2012

The Astro-Med, Inc. Third Quarter conference call will be held on Wednesday, November 21, 2012, at 11:00 AM EST. It will be broadcast in real time on the Internet and will be available through the Investing Section of our website. We invite you to log on and listen in or participate in real time by dialing 1-877-941-0844 with passcode 4568960.

The Astro-Med, Inc. webcast is also being distributed through the Thomson StreetEvents Network. Individual investors can listen to the call at www.earnings.com, Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson StreetEvents (www.streetevents.com), a password-protected event management site.

Following the live broadcast, a webcast of the recorded call will be available for ten days at www.Astro-MedInc.com. A telephone replay of the conference call will also be available for seven days by dialing 800-406-7325 with passcode 4568960.




                               Astro-Med, Inc.
                    Consolidated Statements of Operations
                   In Thousands Except for Per Share Data
                                 (Unaudited)

                            Three-Months Ended         Nine-Months Ended
                         October 27,  October 29,  October 27,  October 29,
                             2012         2011         2012         2011
                         -----------  -----------  -----------  -----------
Net Sales                $    20,562  $    19,569  $    58,559  $    58,764
Gross Profit                   8,838        8,014       24,508       23,416
                                43.0%        41.0%        41.9%        39.8%
Operating Expenses:
  Marketing & Selling          4,431        4,555       12,973       13,647
  Research & Development       1,126        1,262        3,538        3,917
  General &
   Administrative              1,188        1,009        3,339        2,884
                         -----------  -----------  -----------  -----------
                               6,745        6,826       19,850       20,448

Operating Income               2,093        1,188        4,658        2,968
                                10.2%         6.1%         8.0%         5.1%

Other (Expense)/Income
 Net                              47          (69)         (56)         379
                         -----------  -----------  -----------  -----------

Income Before Taxes            2,140        1,119        4,602        3,347

Income Tax Provision
 (Benefit)                       832          319        1,471        1,070
                         -----------  -----------  -----------  -----------

Net Income               $     1,308  $       800  $     3,131  $     2,277
                         ===========  ===========  ===========  ===========

Net Income Per Share -
 Basic                   $      0.18  $      0.11  $      0.42  $      0.31
                         ===========  ===========  ===========  ===========
Net Income Per Share -
 Diluted                 $      0.18  $      0.11  $      0.42  $      0.31
                         ===========  ===========  ===========  ===========

Weighted Average Number
 of Common Shares -
 Basic                         7,379        7,340        7,414        7,300
Weighted Average Number
 of Common Shares -
 Diluted                       7,462        7,421        7,487        7,423

Dividends Declared Per
 Common Share            $      0.07  $      0.07  $      0.21  $      0.21



                   Reconciliation of Non-GAAP Adjustments
                                  (Unaudited)

                             Three-Months Ended        Nine-Months Ended
                          October 27, October 29,  October 27,  October 29,
                              2012        2011         2012         2011
                          ----------- -----------  -----------  -----------
GAAP based results:
Net Income Per Share -
 Diluted                  $      0.18 $      0.11  $      0.42  $      0.31

Non-GAAP adjustments:
Favorable adjustment in
 the filing of prior year
 tax returns                                (0.02)                    (0.02)

Disposition of an
 insurance policy                   -           -                     (0.04)

Favorable resolution of a
 previously uncertain tax
 position                           -           -  $     (0.04)           -
                          ----------- -----------  -----------  -----------

Non-GAAP Net Income Per
 Share - Diluted          $      0.18 $      0.09  $      0.38  $      0.25
                          =========== ===========  ===========  ===========



                         Selected Balance Sheet Data
                                In Thousands
                                 (Unaudited)

                                                     As of         As of
                                                  October 27,   January 31,
                                                      2012          2012
                                                 ------------- -------------
Cash & Marketable Securities                     $      22,963 $      23,040
Current Assets                                   $      52,949 $      52,478
Total Assets                                     $      66,937 $      67,062
Current Liabilities                              $       7,530 $       8,272
Shareholders' Equity                             $      56,757 $      55,663

About Astro-Med, Inc.

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, labeling and packaging applications. Astro-Med, Inc. is a member of the Russell Microcap® Index. Additional information is available by visiting www.Astro-MedInc.com.

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 FY2012 annual report and its annual and quarterly filings with the Securities and Exchange Commission.

Contact:
Everett V. Pizzuti
CEO
Joseph P. O'Connell
CFO
Tel: 800-343-4039
www.Astro-MedInc.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), provided an overview of various initiatives to certify the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldwide re...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists examined how DevOps helps to meet the de...
When growing capacity and power in the data center, the architectural trade-offs between server scale-up vs. scale-out continue to be debated. Both approaches are valid: scale-out adds multiple, smaller servers running in a distributed computing model, while scale-up adds fewer, more powerful servers that are capable of running larger workloads. It’s worth noting that there are additional, unique advantages that scale-up architectures offer. One big advantage is large memory and compute capacity...
No hype cycles or predictions of zillions of things here. IoT is big. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, Associate Partner at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He discussed the evaluation of communication standards and IoT messaging protocols, data analytics considerations, edge-to-cloud tec...
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Silicon India has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Published in Silicon Valley, Silicon India magazine is the premiere platform for CIOs to discuss their innovative enterprise solutions and allows IT vendors to learn about new solutions that can help grow their business.
The Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ara...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assista...
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
"MobiDev is a Ukraine-based software development company. We do mobile development, and we're specialists in that. But we do full stack software development for entrepreneurs, for emerging companies, and for enterprise ventures," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that TMC has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo and Big Data at Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Global buyers rely on TMC’s content-driven marketplaces to make purchase decisions and navigate markets. Learn how we can help you reach your marketing goals.
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
SYS-CON Events announced today that TechTarget has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets.
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
SYS-CON Events announced today that Ayehu will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara California. Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infras...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...