Laser Master International Reports Third Quarter and Nine Months Results

Business Wire, Oct 21, 1997

HARRISON, N.J.--(BUSINESS WIRE)--Oct. 21, 1997--Laser Master International Inc. (OTC;BB:LMTI) today reported its financial results for the third quarter and nine months ended August 31, 1997.

For the third quarter, revenues totaled $3,482,725 versus $3,405,430 for the corresponding period last year. There was a loss of $125,721 or $0.01 per share, as compared to a profit of $340,814 or $0.03 per share in 1996.

Nine months revenues reached $8,382,568 versus $8,099,641 for the same period in 1996. There was a net loss of $317,375 or $0.03 per share, versus a profit of $224,210 or $0.02 per share.

In making the announcement, Mendel Klein, president and chief executive officer, said, "The increase in revenues was primarily attributed to higher sales volume from existing customers. A number of new business development procedures were initiated during the third quarter and while early customer response has been good, any actual orders most likely won't be shipped until the next fiscal year.

"The loss for the quarter was related to the non-performance of Passport Papers, one of the Company's subsidiaries. This operation will be discontinued by year-end," Klein said.

He added that the company has invested in a variety of marketing and research and development actions and expects the company to benefit from these initiatives next year.

Laser Master International uses a computerized laser system for industrial and commercial printing and engraving. It provides a comprehensive array of computerized design, pre-press and flexographic printing services and products for the packaging, apparel and home furnishing markets.

This release is available on the KCSA Worldwide website at www.kcsa.com .

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                        Laser Master International Inc.
                            Financial Highlights

                             For the Quarter Ended August 31,
                                   1997          1996

Revenues                        $ 3,482,725  $ 3,405,430
Earnings (loss)                 $  (125,721) $   340,813
Earnings (loss) per share       $     (0.01) $      0.03
Weighted average shares
 outstanding                     10,615,207   10,374,600


                           For the Nine Months Ended August 31,
                                   1997          1996

Revenues                        $ 8,382,568  $ 8,099,641
Earnings (loss)                 $  (317,375) $   224,210
Earnings (loss) per share       $     (0.03) $      0.02
Weighted average shares
 outstanding                     10,615,207   10,374,600