Results Business Editors RICHMOND, Calif.--(BUSINESS WIRE)--Nov. 11, 1997--Tinsley Laboratories reported third quarter, 1997 results showing continued improvement in sales and earnings. Sales for the nine months ended September 30, 1997 of $16,003,865 increased 22% from sales of $13,070,647 for the same period last year. Net income of $1,230,762 or 70 cents a share for the nine months improved significantly over earnings a year ago of $625,796 or 41 cents a share. Per share earnings were calculated using 1,766,077 shares for the nine month period ending September 30, 1997 as compared to 1,543,948 shares for the same quarter last year. Sales for the September quarter of $5,463,887 was 11% higher than last year's sales for the September quarter of $4,918,550. Net income for the September quarter was $375,498, or 21 cents a share, as compared to $295,528 or 19 cents last year. The company, which manufactures precision optics and optical systems, and film and video products, ended the quarter with a backlog of $17,089,000 compared to $10,380,000 a year ago. Backlog at the start of the year was $10,300,000. On September 9, Silicon Valley Group, Inc. of San Jose, California signed a definitive agreement to acquire Tinsley Laboratories. We have previously mailed to all Tinsley shareholders information on the merger, which is intended to qualify as a pooling of interests. The merger is scheduled to be voted upon by Tinsley shareholders on November 26, 1997. QUARTER ENDED Sept. 30, 1997 Sept. 29, 1996 Sales $ 5,463,887 $ 4,918,550 Net Income $ 375,498 $ 295,528 Per Share $ 0.21 $ 0.19 Number of shares used in per share calculations 1,797,797 1,543,948 NINE MONTHS ENDED Sept. 30, 1997 Sept. 29, 1996 Sales $ 16,003,865 $ 13,070,647 Net Income $ 1,230,762 $ 625,796 Per Share $ 0.70 $ 0.41 Number of shares used in per share calculations 1,766,077 1,543,948
Russian International Reserves Fall $15.7 Billion in Week to Dec. 19
TINSLEY REPORTS STRONG THIRD QUARTER
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