Evans & Sutherland Reports Q2
Created 07/26/2001 - 00:00
files/pictures/picture-35.jpgEvans & Sutherland Computer Corp. has released its financial results for the second quarter ended June 29, 2001. Total sales for the quarter were US$48.1 million compared to $25.6 million for the second quarter of 2000. Net loss for the quarter was $5.1 million, or $.50 per share, compared to a net loss of $52.3 million, or $5.58 per share, in the prior year. For the six months ended June 29, 2001, sales totaled $87.7 million compared to $71.5 million for the same six months of 2000. Net loss for the six-month period was $11.3 million, or $1.13 per share, compared to $55.5 million, or $5.93 per share for the first six months of 2000. James R. Oyler, president and CEO, said, "The second quarter was as expected. Both revenue and earnings improved over last year and also over the first quarter of this year. In addition, the company announced receipt of several large contracts during the quarter, including a $43 million, multi-year contract with the U.S. Army. We have previously indicated that we expected our REALimage unit to achieve independence from E&S in the second quarter. Because of the difficult investment climate, we now expect this event to occur in the third quarter. We continue to work on finishing legacy programs. Based on program progress and the anticipated REALimage transaction, we expect second half performance to be significantly better than first half performance." Evans & Sutherland produces hardware and software to create photo-realistic 3D images. E&S business units deliver visual systems for simulation and training in defense and commercial applications, digital theaters and related applications throughout the world.