EXHIBIT 99.1 - -------------------------------------------------------------------------------- PRESS RELEASE - -------------------------------------------------------------------------------- ASTRO-MED, INC. 600 East Greenwich Avenue West Warwick, Rhode Island 02893 For Immediate Release Contact: Albert W. Ondis November 16, 2004 Joseph P. O'Connell Astro-Med, Inc. (401) 828-4000 Astro-Med Reports Third Quarter Results; Directors Declare Regular Cash Dividend West Warwick, RI, November 16, 2004 -- Astro-Med, Inc. (NASDAQ:ALOT) reports net income of $53,000, equal to 1 cent per diluted share, on sales of $13,246,000 for the Third Quarter ending October 30, 2004. During the corresponding period of the previous year, the Company reported net income of $901,000, equal to 16 cents per diluted share, on sales of $14,386,000. During the Nine-Month Period of the current fiscal year, net income was $2,253,000, equal to 39 cents per diluted share, on sales of $41,478,000. For the corresponding period last year, the Company reported a net income of $2,217,000, equal to 43 cents per diluted share, on sales of $41,623,000. Commenting on the results, Albert W. Ondis, Chief Executive Officer, stated: "Our QuickLabel Systems(R)product group continued its strong double digit sales growth, but revenues from the other two product groups fell short of our business plan. At this juncture, it is imperative that we reach more prospective new customers and make them aware of the wonderful new products that are coming out of our R & D laboratories. That is why we are hiring more sales people and participating in dozens of important trade shows in North America and Europe. "We believe that this two-fold program of developing new products and reaching out to prospective new customers will promote sales growth within all three product groups. "The Company's financial position remains very strong with cash and marketable securities now up to $13.6 million, no long term debt, and a book value of $7.19 per share." On November 15, 2004, the Directors of Astro-Med declared the regular quarterly cash dividend of 4 cents per share payable on January 3, 2005 to shareholders of record on December 10, 2004. The Third Quarter conference call will be held on Tuesday, November 16, 2004 at 5:00 PM EST. It will be broadcast in real time on the Internet through the Investor Relations portion of our website at www.astro-med.com. We invite you to log on and listen in on November 16th, or access the broadcast any time for up to 5 days following the event. Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments employed around the world in a wide range of industrial, scientific, and medical applications. ASTRO-MED, INC. Consolidated Statement of Operations In Thousands Except for Per Share Data (Unaudited) Three-Months Ending Nine-Months Ending October 30, November 1, October 30, November 1, 2004 2003 2004 2003 ---- ---- ---- ---- Net Sales $13,246 $14,386 $41,478 $41,623 Gross Profit 5,152 5,926 16,866 16,792 38.9% 41.2% 40.7% 40.3% Operating Expenses: Selling, General & Administrative 4,076 3,912 12,014 11,538 Research & Development 1,069 955 2,993 2,731 ---- ----- ---- ----- 5,145 4,867 15,007 14,269 Operating Income 7 1,059 1,859 2,523 0.1% 7.4% 4.5% 6.1% Other, Net 75 1 195 85 -------- --------- ------ ------ Income Before Taxes 82 1,060 2,054 2,608 Income Tax Benefit (Provision) (29) (159) 199 (391) ---- ---- ------ ----- Net Income $ 53 $ 901 $2,253 $ 2,217 ===== ===== ====== ======= Net Income Per Share - Basic $ 0.01 $ 0.18 $ 0.43 $ 0.47 ====== ====== ====== ====== Net Income Per Share - Diluted $ 0.01 $ 0.16 $ 0.39 $ 0.43 ====== ====== ====== ====== Weighted Average Number of Common Shares - Basic 5,312 4,879 5,288 4,732 Weighted Average Number of Common Shares - Diluted 5,770 5,685 5,813 5,133 Dividends Declared Per Common Share $ 0.04 $ 0.04 $ 0.04 $ 0.04Selected Balance Sheet Data In Thousands Except for Per Share Data As of As of October 30, 2004 January 31, 2004 ---------------- ---------------- Cash & Marketable Securities $13,599 $12,677 Current Assets $36,513 $32,017 Total Assets $46,840 $42,065 Current Liabilities $7,205 $7,518 Shareholders' Equity $38,297 $34,547 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 FY2004 annual report and its annual and quarterly filings with the Securities and Exchange Commission.
AstroNova (ALOT) 8-KResults of Operations and Financial Condition
Filed: 17 Nov 04, 12:00am