SMS Announces Quarterly, YTD Net Profits
6 April 2000
SMS Announces Quarterly, YTD Net ProfitsAUSTIN, Texas, April 5 Scientific Measurement Systems, Inc. (OTC Bulletin Board: SCMS) today submitted its financial results for FY1999 year-end (audited) and for the two subsequent quarters for FY2000 (unaudited). Notably, also SMS announced its earnings results for the second quarter and year to date for fiscal year 2000. Mr. Howard L. Burris, President & CEO announced today that the (unaudited) financial statements for January 31, 2000 report a year-to-date net profit of $996,096 for the first two quarters -- or an earnings per share value of $.04. Mr. Burris noted "this was largely the result of a second quarter net profit of $865,176 which in turn was in great measure the product of an extraordinary event, notably accounting for the forgiveness of debt associated with the Company's re-structuring completed December 22, 1999." The year-to-date profit of $996,096 and $865,176 for the second quarter are compared to losses of approximately $(334,000) and $(162,000) respectively for the two analogous reporting periods in the pervious fiscal year. SMS is a publicly traded company traded on the OTC Bulletin Board under the symbol SCMS. The Company is a leader in the development of industrial radiography and computed tomography, which is becoming widely used in the auto, aircraft, tire and castings industries. Contact: Howard Burris, President & CEO Phone: 512.837.4712 FAX: 512.837.9082