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Q1-1993.TXT
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1992-10-12
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FOR IMMEDIATE RELEASE
Contact:Bob Knox, Investor Relations Voice:602/690-3772
FAX:602/690-7814
ARTISOFT, INC. ANNOUNCES SALES AND EARNINGS FOR THE FIRST
QUARTER OF FISCAL 1993
(TUCSON, AZ -- October 12, 1992) -- Artisoft,
Inc. announced today net sales of $22.1 million and net
earnings of $3.6 million, or $0.20 per share, for the first
quarter of fiscal 1993 ended September 30, 1992, compared
to net sales of $14.5 million and net earnings of $2.2
million, or $0.15 per share, for the same quarter of the
previous fiscal year. This represents an increase of 52.8%
in sales and 61.6% in net earnings over the September 30,
1991 quarter.
C. John Schoof II, Chairman of the Board, President and
Chief Executive Officer, stated, "During the first fiscal
quarter, Artisoft sales continued strong in our domestic
markets, fueled by increasing orders for the LANtastic(R)
networking family of products. While seasonal softness in
Europe contributed to weak international revenue, this was
offset by growth in the domestic market. During the
quarter, Artisoft took steps to expand its European
distribution channel by restructuring it to more closely
reflect the non-exclusive channel structure in the U.S.
International sales represented 21.5% of net sales for the
quarter compared to 26.5% for the entire fiscal year of
1992.
"We are pleased with the response to new products
introduced late in the quarter, particularly the NetMediaTM
Starter Kit, LANtastic(R) for Macintosh(R) and the
Etherbasket(TM) Multi-Pack. Much of the quarter-to-quarter
increase in accounts receivable was attributable to the
timing of shipments of these new products.
"Operating expenses rose during the quarter
because of the previously announced expansion programs
underway in Europe, the Pacific Rim and Latin America,
increased advertising and promotion expenses, and the
hiring of additional sales and marketing and engineering
personnel, all to support the growth of our revenue and
product line."
Artisoft develops and manufactures a full line of
innovative, cost-effective network communication solutions
including the LANtastic Local Area Network. Recognized as
the leader in peer-to-peer networking for DOS and WindowsTM
environments, the LANtastic network now offers
multiplatform connectivity solutions for NetWare(R) and
Macintosh. It allows up to 300 users of IBM(R)-compatible
computers to connect and share information and peripheral
devices such as printers, hard drives and CD-ROMs and has
won numerous industry awards for its cost-effective
features, performance and ease of use. Artisoft distributes
its hardware and software products in over 70 countries
worldwide and maintains international offices in the
Netherlands, the United Kingdom, France, Germany, Italy,
Latin America, Australia and Japan.
For more information about Artisoft or its product line,
contact Artisoft, Inc. at 691 E. River Road, Tucson, AZ
85704. Sales 800/TINY RAM. Corporate 602/293-6363. Fax
602/293-8065.