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VENTURA COUNTY ROUNDUP / BARBARA MURPHY

Eltron International Announces Record Results

March 04, 1997|BARBARA MURPHY

Eltron International Inc. in Simi Valley announced record fourth-quarter and annual results for the year ended Dec. 31.

Fourth-quarter sales increased 36% to $22.7 million from $16.7 million for the same period last year. Profits, before non-recurring charges totaling $300,000, would have been $2.6 million, or 34 cents per share. These earnings were diluted to net income of $2.3 million, or 30 cents per share, by charges related to terminated merger talks with Zebra Technologies during the fourth quarter.

For the year ended Dec. 31, sales grew more than 61% to $88.5 million from $55 million for 1995. Profits, prior to non-recurring charges totaling $3.5 million, would have been $10.6 million or $1.36 per share.

These earnings were diluted to a net income of $7.1 million, or 91 cents per share, by charges related to the acquisitions of RJS Inc. and Privilege S.A. during the first quarter and the terminated Zebra talks.

"We experienced growth in all aspects of our business [in 1996] and are particularly pleased with the continued strong growth in sales to customers other than United Parcel Service," said Donald K. Skinner, Eltron chairman and chief executive officer. "This was particularly true in the fourth quarter, [when] sales to customers other than UPS increased over 65% when compared to the same period last year."

Eltron International designs and manufactures thermal label and plastic card printers, verifiers, software, label media and related accessories used by the health care, retail, manufacturing, package delivery, financial services and security industries.

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