76: UANTA SYSTEMS CORP. 1455 Research Blvd. Rockville, Md. 20850
REVENUE: $13.6 million LOSS: $215,000 LOSS PER SHARE: 2 cents DIVIDEND: None ASSETS: $6.9 million STOCKHOLDERS' EQUITY: $859,000 RETURN ON EQUITY: NA EXCHANGE: OTC EMPLOYES: 150 TOP EXECUTIVES: Frank J. Kelly III, chairman and chief executive officer; Raymond F. Dean, president FOUNDED: 1967
DESCRIPTION: Quanta Systems develops, manufactures and sells advanced-technology electronic systems and products for defense and aerospace industries. Its C. W. Thompson Co. subsidiary makes components and systems for use in industrial communications, particularly in metal processing plants and electric power plants, and its Mediquip Inc. unit designs and markets computer-based health management systems.
DEVELOPMENTS: Quanta's losses more than tripled during the fiscal year ended Sept. 30, to $215,000 from $60,000 in 1983, even though revenue leaped 126 percent for the year. The company blamed the spreading red ink on a $347,000 loss incurred when it discontinued its automated health-testing division.
For the three months ended Dec. 31, the company said revenue jumped another 18 percent to $3.2 million, compared with $2.7 million for the first quarter of fiscal 1984. Losses declined substantially as well, from $434,000 in the fiscal 1984 period to $6,000 for the first quarter of fiscal 1985. 77: TESDATA SYSTEMS CORP. 7921 Jones Branch Rd. McLean, Va. 22102
REVENUE: $11.2 million LOSS: $2.6 million LOSS PER SHARE: $1.99 DIVIDEND: None ASSETS: $7.9 million STOCKHOLDERS' EQUITY: $5 million RETURN ON EQUITY: NA EXCHANGE: OTC EMPLOYES: 114 TOP EXECUTIVE: Thomas E. Stone, president and chief executive officer FOUNDED: 1970
DESCRIPTION: Tesdata is a supplier of computer resource management systems and data communications network monitoring systems.
DEVELOPMENTS: Financially troubled Tesdata endured a year of disruption that included a canceled merger, as well as lower-than-expected prices on sales of its European operation and a license to its SMART product line. Tesdata's difficulties pushed revenue down 15 percent in the year ended Dec. 31, with losses reported to be twice the previous year's $1.3 million loss.
Tesdata's announcement last May that it had agreed to be acquired by Dynatech Corp., a diversified high-tech firm based in Burlington, Mass., in exchange for stock was nullified two months later when the two companies agreed instead to an alternative plan: Dynatech would pay Tesdata $3.5 million in exchange for a license to its new technology and for the firm's European operations. The closing price on the sale was $2.85 million, but Tesdata reports that only $2.5 million has been received. The balance is expected when work on the SMART product line is completed. 78: WAXIE MAXIE QUALITY MUSIC CO. 5772 2nd St. NE Washington, D.C. 20011
REVENUE: $9.4 million PROFITS: $132,485 EARNINGS PER SHARE: 80 cents DIVIDEND: 10 cents ASSETS: $3.3 million STOCKHOLDERS' EQUITY: $1.5 million RETURN ON EQUITY: 9 percent EXCHANGE: OTC EMPLOYES: 180 TOP EXECUTIVES: Mark D. Silverman, president; Max Silverman, vice president FOUNDED: 1938
DESCRIPTION: Waxie Maxie operates 24 retail record stores in Maryland and Virginia. The stores also sell tapes and other products related to the reproduction of music and voice. The company leases its retail and warehousing facilities. DEVELOPMENTS: Album sales no longer dominate the recording business but have have been eclipsed by cassette tapes as the dominant recording medium. Compact discs also are widening their market niche, and Waxie Maxie is changing its stores to accommodate those industry trends.
Sales for the fiscal year ended July 31, 1984, were 23.6 percent higher than 1983 revenue of $7.6 million. Fiscal 1984 profits of $132,485 were 18.9 percent higher than the $111,392 reported in 1983.
Since July 31, Waxie Maxie has added five new stores to its chain, increasing the number of Waxie Maxie outlets to 24, a company spokeswoman said. 79: AMERICAN FUEL TECHNOLOGIES INC. Industrial Park Federalsburg, Md. 21632
REVENUE: $9 million LOSS: $5 million LOSS PER SHARE: 44 cents DIVIDEND: None ASSETS: $10.8 million STOCKHOLDERS' EQUITY: $4.5 million RETURN ON EQUITY: NA EXCHANGE: OTC EMPLOYES: 50 TOP EXECUTIVES: O. Wayne Eakin, chairman and chief executive officer; Thomas P. Tanis Jr., president FOUNDED: 1979
DESCRIPTION: American Fuel Technologies produces and markets anhydrous ethanol from facilities on Maryland's Eastern Shore and Oklahoma. The company also sells processed corn byproducts, including corn germ, high-protein feed supplements and carbon dioxide, a byproduct of gasohol production. Anhydrous ethanol is used primarily as an octane enhancer in gasoline and is emerging as a specialty additive for blending with methanol for use in automotive fuels.
DEVELOPMENTS: The Environmental Protection Agency's proposed phase-out of lead in gasoline has ripened the moment for American Fuel Technologies, which sells an alternative octane booster to lead. The company said its sales agreements have increased fivefold since the EPA announcement in March, and officials expect to triple that sales figure again, pushing production up to almost 50 million gallons annually from its recent norm of 3 million gallons.
The windfall comes on the heels of a disastrous year. A drought coupled with federal crop-reduction programs sent the cost of corn skyrocketing during the 1983 season, from $2.85 a bushel to $4.20. Because corn represents approximately 60 percent of the cost of production for American Fuel Technologies, the company attributes its 66 percent increase in losses for the year ended May 31, 1984, to the shrunken harvest.
The picture didn't improve for the nine months ended Feb. 28. The continuing high costs of corn forced the company to close production facilities temporarily in Maryland and Oklahoma, contributing to a drop in revenue from $6.7 million for the first three quarters of fiscal 1984 to $3.9 million for the 1985 period.
To refinance the company and restart production, American Fuel Technologies raised $3.8 million by selling and leasing back its ethanol production equipment in Oklahoma. The company said the future is brighter, with both plants back in operation, the price of corn down to $3 a bushel,federal crop-reduction programs at an end and a dramatic increase in sales. 80: U.S. DESIGN CORP. 5100 Philadelphia Way Lanham, Md. 20706
REVENUE: $8.4 million LOSS: $881,000 LOSS PER SHARE: 18 cents DIVIDEND: None ASSETS: $11.8 million STOCKHOLDERS' EQUITY: $10 million RETURN ON EQUITY: NA EXCHANGE: OTC EMPLOYES: 80 TOP EXECUTIVES: William R. Anderson Jr., chairman; John L. Tincler, president FOUNDED: 1978
DESCRIPTION: U.S. Design Corp. manufactures high-capacity disk and tape storage systems for micro and mini computers.
DEVELOPMENTS: U.S. Design reported significant improvements in its financial picture for the fiscal year ended June 30, 1984; revenue jumped 92 percent and losses fell 35 percent from $1.4 million in fiscal 1983 to $881,000 last year. For the first 1985 quarter ended Dec. 31, the computer company said revenue jumped 42-fold to $905,000 from $21,000 for the comparable fiscal 1984 period, while losses slid to $439,000 (16 cents a share) from $466,000 (17 cents).
A company spokesman said losses continue to plague U.S. Design because the company is investing heavily in facilities and personnel to produce its products in large quantities. U.S. Design has signed an agreement to market its products in Europe.