Data Translation Reports Quarterly Profit
MARLBORO, Mass., June 21 -- Data Translation, Inc. reported results for its fiscal quarter ended May 31, 1999. Total sales for the quarter were $4,079,000, a decrease of approximately 8.0% from the $4,435,000 reported in the comparable quarter of fiscal 1998. Sales increased 5.7% from the $3,857,000 recorded in the first quarter of fiscal 1999. Net income for the second quarter of fiscal 1999 was $156,000 or $0.07 per share, compared to a net loss of $225,000 or $0.11 per share in the comparable quarter of fiscal 1998. Total sales for the six months ended May 31, 1999 were $7,936,000, compared to $8,991,000 for the same period in fiscal 1998. Net income for the six months ended May 31, 1999 was $258,000 or $0.12 per share, compared to a net loss of $499,000 or $0.24 per share in the comparable period of fiscal 1998.
Our results show that we are continuing to take the necessary steps to grow the business, stated Fred Molinari, Data Translation's President and Chief Executive Officer. In particular, we are pleased to note that both sales and gross margin increased from the first quarter of FY1999. As a result, our balance sheet continues to strengthen. Over the next couple of quarters we expect to make new product announcements that will further strengthen our core products.
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