This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Video Display Reports Third Quarter And Nine Month Results

ATLANTA, Jan. 17, 2011 (GLOBE NEWSWIRE) -- Video Display Corporation (Nasdaq:VIDE), a world leader in the supply of unique medical, defense and industrial display solutions, reports financial results for the fiscal third quarter and nine month periods ended November 30, 2010.

Revenue for the three month period ended November 30, 2010 is reported at $16.9 million, reflecting the expected decrease in quarterly revenues caused by the early shipment of products by the Company in the previous quarter ended August 31, 2010 which had been scheduled for shipment in the 3 rd quarter. The fiscal 2011 3 rd quarter revenue is reported as slightly less than the previous year third quarter revenue of $17.5 million by $591,000 or 3.37%.  Revenue was also negatively impacted at the Company's Fox International Ltd fulfillment service subsidiary by $1.17 million, versus the previous year's 3 rd quarter, due to disruptions in the supply chain from a major Japanese supplier of parts required to fill existing orders as well as reduced demand from a large customer for consumer parts and accessories.

Fully diluted earnings per share for the third fiscal quarter are reported at a loss of ($0.05) versus the previous year's third quarter fully diluted profit of $0.01 per share. As with third quarter revenues, this period's quarterly profits were negatively impacted by the Fox Intl Ltd quarterly performance. In this period, the Company's display operations generated pretax profits of $285,000 which were offset by losses at Fox which reported a pretax loss of ($894,000) for the period. 

Revenue for the nine month period ended November 30, 2010 is reported at $59.4 million versus $50.7 million reported for November 30, 2009, an increase of 17% versus the previous year period. Fully diluted earnings per share are reported at $0.17 for the first nine months of fiscal 2011 versus $0.03 for the like period of 2010.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs