VSI Holdings, Inc. Reports Year End September 30, 1997 Financial Results
18 December 1997
VSI Holdings, Inc. Reports Year End September 30, 1997 Financial Results
DETROIT, Dec. 18 -- VSI Holdings, Inc. (AMEX: VIS.EC) today
announced Revenues of $148,338,000 for the fiscal year ended September 30,
1997 and Net Income of $9,142,000. For the prior year, Revenues were
$150,299,000 producing Net Income of $6,835,000.
Operating Income increased 68% to $11,127,000 from $6,636,000 last year.
Net Income per share 1997 was $0.28 compared to $0.21 in 1996 on a
weighted average of 32,784,000 and 32,767,000 shares respectively.
Financial Summary
Years Ended
September 30, 1997 September 30, 1996
(Audited) (Audited)
Revenue $148,338,000(a) $150,299,000
Operating Income $11,127,000 $6,636,000
Net Income $9,142,000 $6,835,000
Net Income per Share $0.28 $0.21
Weighted Average Shares 32,784,000 32,767,000
a. The decrease in Revenue is attributed to store closings in the retail
business sector.
VSI Holdings consists of these wholly-owned subsidiaries in the Marketing
Services, Entertainment, and Retail business sectors under the following trade
names -- Visual Services, Inc., a broad-based provider of educational
curriculums and product training, interactive technology-based distance
learning systems, product launches, web site development, direct-response and
site-based marketing, change process and cultural change consulting; Vispac,
Inc., integrated logistics and call center operations; the just-acquired
Performance Systems Group, in-field consulting and change process sustainment
services; Advanced Animations, a manufacturer of product simulators,
animatronic displays for theme parks, retail, and casinos; Advanced Exhibits,
provider of touring venues for museums and zoological parks; and Dress Code, a
retailer of women's apparel.
SOURCE VSI Holdings, Inc.