Laser Master International, Inc. 3rd-Qtr Net Income Rises as Company Cost Cuts

Business Wire, Oct 26, 1999

HARRISON, N.J.--(BUSINESS WIRE)--Oct. 26, 1999--

Laser Master International Inc., the computerized laser printing company said 3rd quarter net income rose more than 65% from the same quarter last year.

Net income rose to $186,588 or .02 per share from $112,443 or .01 per share a year earlier. Revenues rose slightly from 4.1 million to 4.2 million. Operating expenses fell 11% as management's programs to contain expenses are succeeding.

Net income for the 9 months period ended 8/31/99 rose from $146,800 or .01 per share last year to $315,369 or .03 per share this year. Revenues for the 9 months period were also up slightly from 10.5 million to 11 million.

"Part of the plan we began in Q4 last year was to get a lot more efficient in the sales and marketing side," Abraham Klein, COO said. "And this quarter, despite spending less money in sales, we got equal and better on the revenue line."

Mr. Klein added he is optimistic about revenue growth in the 4th quarter and in the year 2000 because of the company's increased product line.

This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to documents filed by LMTI with the U.S. Securities and Exchange Commission.