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Xscribe Corp. Reports Gain in Net Income for 2nd Quarter

October 16, 1987

Xscribe Corp., a manufacturer of computer-aided transcription systems for court reporters, reported fiscal second-quarter net income of $642,000 on sales of $8.9 million, up from a profit of $122,000 on revenue of $6.5 million over the same period last year.

For the six months ended Sept. 30, Xscribe's profit was $1.2 million on sales of $17 million, up from the $150,000 profit on revenue of $12.8 million reported for the same two quarters last year.

Xscribe began its initial public stock offering on Aug. 11, raising $12 million through the sale of 1.5 million shares priced at $8 each. In over-the-counter trading Thursday, Xscribe stock closed unchanged at $7.125 per share.

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