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[September 2000]
American Technical Ceramics Corp. Announces Record Fourth Quarter Results
American Technical Ceramics Corp., has announced record orders, sales and earnings for the fourth quarter ended June 30, 2000.
Net sales for the quarter ended June 30, 2000 increased 104% to $21,328,000 from $10,468,000 in the comparable quarter in fiscal year 1999. Net income amounted to $3,380,000, or approximately $.44 per common share ($.40 per common share assuming dilution), for the quarter ended June 30, 2000, compared with net income of $729,000, or approximately $.10 per common share ($.10 per common share assuming dilution), for the comparable quarter ended June 30, 1999.
Net sales for the fiscal year ended June 30, 2000 increased 77% to $66,508,000, from $37,565,000 in fiscal year 1999. Net income amounted to $9,071,000, or approximately $1.18 per common share ($1.11 per common share assuming dilution), for the fiscal year ended June 30, 2000, compared with net income of $2,129,000, or approximately $.28 per common share ($.28 per common share assuming dilution), for the fiscal year ended June 30, 1999.
Order bookings for the fourth quarter were $27,588,000, representing a 22% increase over the sequential quarter and a 156% increase over the comparable quarter in fiscal year 1999.
Victor Insetta, Chairman of the Company, stated "Our continued strong level of business has enabled us to maintain strong profit margins while increasing substantially internal investments in new product areas and in capacity and infrastructure for continued growth. This past quarter we began taking volume orders for our new lower-cost, high volume products, began shipping samples of our resistive product line, continued to increase core product unit output, established a new low temperature co-fired ceramic project targeted at the market for RF custom circuits, and began implementation of a new information technology system to support planned growth and product diversification. We plan to increase our program of investments in the current Fiscal Year."
Website: www.atceramics.com
ENDS