Business Services Industry
Tice Reports 167 Percent Increase in Royalties from Brother Industries; Brother Changes from Semi-Annual Reporting to Quarterly Reporting of Royalties
Business Wire, April 29, 1998
KNOXVILLE, Tenn.--(BUSINESS WIRE)--April 29, 1998--Tice Technology(R) Inc. (NASDAQ OTC: TICE)(NASDAQ OTC: TICEW, which virtually reinvented the industrial sewing machine, today announced that royalties from sales of sewing machine units with the company's electronic gearing technology have increased.
Brother's royalty report for the three-month period ending March 31, 1998 totals $85,947 which reflects a 167 percent increase in royalties (This figure may vary slightly due to changes in foreign exchange rates at time of payment scheduled for June 30, 1998). This increase is based on converting Brother's last six-month report into two equal three-month reports for the reporting period ending Dec. 31, 1997. The royalties reported, for the six-month period ending Dec. 31, 1997, totaled $102,664.
CONTACT: Tice Technology Inc., Knoxville
Karen A. Walton, 423/925-4501
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