Laser Master International, Inc. Reports Third Quarter And Nine Months Financial Results

Business Wire, Oct 16, 1998

HARRISON, N.J.--(BUSINESS WIRE)--Oct. 16, 1998--Laser Master International, Inc. (OTC Bulletin Board:LMTI) today announced financial results for the third fiscal quarter ended August 31, 1998.

The Company reported revenues of $4,119,471 for the quarter, up 18% from the same period in 1997. For the nine months ended August 31, 1998 revenues rose 26% to $10,584,541 from revenues of $8,382,568 reported for the corresponding period in 1997.

Net earnings for the third quarter of 1998 were $112,443 or $.01 per share based on 10,615,380 weighted shares outstanding as of August 31, 1998. For the same period in 1997, the Company reported a loss of ($125,721), or ($.01) per share based on 10,615,207 weighted shares outstanding as of August 31, 1997.

Net earnings for the nine months ended August 31, 1998 were $146,800, or $.01 per share as compared to a loss of ($317,375) or ($.03) per share for the same period one year ago. Management attributes the increase to higher sales volume from existing customers.

The Company also reports a gross profit increase for the three months ended August 31, 1998 to 29% as compared to 19% for the same period in 1997. The improved margins were a direct result of the contribution of the eight color press which prints at faster speeds and requires less labor per yard. The press is now running for two shifts each day. The Company anticipates increased usage for the press in 1999, based on its investment in increased marketing and research and development activities made this year.

Laser Master International, Inc. 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 furnishings markets.

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        Laser Master International, Inc. Financial Highlights

                        For the Third Fiscal Quarter Ended August 31,
                                            1998                1997
Revenues                              $4,119,471          $3,482,725
Net Earnings (Loss)                     $112,443          ($125,721)
Net Income (Loss) Per Share                 $.01              ($.01)
Weighted Average Common Shares
 Outstanding                          10,615,380          10,615,207

                                 For the Nine Months Ended August 31,
                                            1998                1997
Revenues                             $10,584,541          $8,382,568
Net Earnings (Loss)                     $146,800          ($317,375)
Net Income (Loss) Per Share                 $.01              ($.03)
Weighted Average Common Shares
 Outstanding                          10,615,380          10,615,207

The statements in this news release that relate to future plans, expectations, events or performance are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining to customer orders, demand for products and services, development of markets for the Company's products and services and other risks identified in the Company's SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as the date hereof. The Company undertakes no obligations to release publicly the results of any revisions to these forwardlooking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.