Rheometric Scientific Reports Reduction In Net Loss, Total Operating Expenses For First Quarter 1999

Rheometric Scientific Inc. (Piscataway, NJ) has reported higher revenues and operating income for the first quarter of 1999, as well as a 32% improvement in its net loss. The reduction in the net loss—to $425,000, or $0.03 per share, from last year's $622,000, or $0.05 per share—reflects a decline of 9% in total operating expenses.

Revenues for the first quarter, ended March 31, 1999, were $7.0 million, an increase of 3% from sales of $6.8 million in the same period of 1998. Sales of laboratory instruments rose by 8.5%, and continue to represent the Rheometric's major source of revenue and income.

"On an operating basis (earnings before interest, foreign exchange, and taxes) we reported income of $285,000, compared with $72,000 a year ago," said CEO Alexander Giacco. "Excluding the adverse impact of foreign currency, our net loss for the quarter would have been less than $250,000.

"We reduced our operating expenses by $292,000. As a percentage of sales, operating expenses declined from 47% a year ago, to 42% in the first quarter. Virtually all of the decrease came in general and administrative expenses and marketing and selling expenses."

Giacco also noted that the company experienced an improved performance in Europe, a trend they expect to continue throughout the year.

Rheometric Scientific develops, manufactures, markets, and services rheological and thermal analysis instrument systems, on-line rheological sensors, and integrated systems for research, product development, process control, and quality assurance.

For more information, call Rheometric Scientific at 732-560-8550.