General Automation shows return to profitability

GA has announced first-quarter results which show the beginnings of a return to profitability for the troubled hardware, software and services company. Briefly, the results for the quarter ended December 31, 1998 showed:

• Operating Income rose to $327,000, versus a loss of ($947,000) for the same period in 1997;
• Net Income is reported at $157,000, or $0.02 per share, versus a net loss of ($1.0 million), or ($0.12) per share for the equivalent period in 1997;
• Net revenues totalled $7.8 million, compared to $8.2 million in 1997.

Jane M Christie, president and chief executive officer stated: “I am pleased to have reached another milestone for 1999 in returning to profitability. We initiated steps during 1998 to improve productivity and the benefits of those actions are now becoming apparent. We expect those benefits will continue in the future and assist us in working toward strengthening the financial condition of General Automation.”

Last Updated: 30 June 1999

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