FARGO ELECTRONCS’ SALES RISE, BUT PROFITS SLIDE
MINNEAPOLIS
Fargo Electronics Inc., a manufacturer of systems for the personalization of plastic identification cards, reports net sales of $14.06 million for the second quarter ended June 30, vs. net sales of $13.87 million for the second quarter of 1999. Net income available to common stockholders for the second quarter of 2000 was $598,000, or 5 cents per diluted share, compared to $651,000, or 9 cents per diluted share, in the second quarter of last year.
Gary R. Holland, president and CEO, says, “Results in the second quarter were in line with the expectations we reported in mid-June. As previously announced, our new line of High Definition Printer(tm) (HDP) systems had not yet come up to desired production levels, and therefore held back our sales growth in the second quarter of 2000. Our distribution partners and customers continue to be excited about the capabilities of the HDP line, which is further strengthening Fargo’s competitive positioning in the plastic card personalization industry.”
For the six months ended June 30, net sales were $28.68 million, vs. $25.94 million for the comparable six-month period of 1999. Fargo Electronics, founded in 1974, is a worldwide manufacturer of desktop systems for on-site, instant issuance of personalized plastic identification cards.
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