Server: Microsoft-IIS/3.0 Date: Fri, 19 Dec 1997 00:26:29 GMT Content-Type: text/html Accept-Ranges: bytes Last-Modified: Mon, 06 Oct 1997 05:54:52 GMT Content-Length: 14403
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COLORADO SPRINGS, Colorado -- Analytical Surveys Inc., (ASI) (Nasdaq National Market-ANLT), a leading provider of digital mapping and Geographical Information Systems (GIS) database services, today announced record results for its first quarter ended December 31, 1996. Net earnings advanced 110% to $578,000, or 11 cents per share, versus net earnings of $275,000, or 6 cents per share, in the first quarter last year. Sales increased 108% to $7.6 million compared with sales of $3.6 million in the same period last year. Sidney V. Corder, president and CEO, said the Company's strong financial growth is attributable to solid profit contributions from all three of ASI's business units, and special recognition should go to ASI Landmark, the Company's most recent acquisition, for its better-than-anticipated profit performance. "Both the Intelligraphics acquisition in late December 1995 and the ASI Landmark acquisition in July 1996 have been outstanding additions to ASI," Corder said. "The level of effort and activity within these two new business units, as well as within our core operations, led to the strongest first quarter in Company history. These results were especially gratifying given that our first fiscal period is typically our slowest due to the seasonal nature of our business." Corder explained that with production capacity increasing and with a solid backlog of $33 million, ASI is positioned for continued strong growth. "While we don't expect triple-digit growth during the remainder of fiscal 1997, we are pleased with the current level of activity within the business, and we anticipate continued solid financial results throughout the remainder of the year," Corder said. "We are encouraged by a number of new business opportunities and we hope to announce the signing of several new contracts before the end of the second quarter." Analytical Surveys is America's technology leader in providing data conversion services and products for municipal, utility, government and commercial customers. ASI specializes in converting paper based maps, aerial photography and other information formats into digital form using technologies such as photogrammetry and digital orthophotography. The resulting digital mapping systems allow ASI's customers to easily access, analyze and make alterations to GIS data on computers. Statements made in this news release that are not historical facts may be forward looking statements. Actual results may differ materially from those projected in any forward looking statement. There are a number of important factors that could cause actual results to differ materially from those anticipated by any forward looking information. A description of risks and uncertainties attendant to Analytical Surveys and its industry and other factors which could affect the Company's financial results are included in the Company's Securities and Exchange Commission Annual Report on Form 10-KSB.
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