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News Release
SOLIGEN REPORTS SIX MONTHS RESULTS
-- Company Launches On-line Services for Metal Parts Fabrication --
Northridge, CA, November 13, 1995 -- Soligen Technologies, Inc. today reported operating results for the second quarter and six months of fiscal 1996. Revenues at the Company's DSPC center continue to grow, doubling from the first three months of the fiscal year. For the three months ended September 30, 1995, the Company reported revenues of $671,000 compared to $450,000 in the same period of last year. The Company reported a net loss of $(349,000) or $(0.01) per share compared to a net loss of $(617,000) or $(0.03) per share in the second quarter of the preceding year.
Revenues for the six months ended September 30, 1995 amounted to $1,309,000, compared to $541,000 for the same period last year. The one area sales did not increase was at Altop, the Company's aluminum foundry. Sales at Altop decreased from last year due to an elimination of historically unprofitable jobs, retirement of old product lines and shifting to new product lines which require higher quality and fit the new standards and quality implemented at Altop. Altop has increased its sales effort to attract new and profitable projects. The Company reported a loss of $(756,000) or $(0.03) per share for the six months ended September 30, 1995. This compares to a loss of $(1,115,000) or $(0.05) per share for the first six months of last year. "We are continuing to progress in bringing our company to profitability, a goal we are vigorously pursuing," said Yehoram Uziel, President and CEO of Soligen.
Soligen Parts Now service, through its DSPC center unit and its aluminum foundry and machine shop, provides customers with a "one stop-shop" for metal parts. Soligen is able to produce short runs as well as production quantities directly from the customer's CAD file, by utilizing its proprietary Direct Shell Production Casting (DSPC) technology to produce first articles and production tooling. "It is due to the growing success of our service that we decided to bring the program on-line," said Mr. Uziel.
Soligen also announced the launch of PARTS NOW ON-LINE and the PARTS NOW WORLD WIDE WEB SITE. "This is a new dimension in metal parts manufacturing," said Mr. Uziel. The two new electronic services are being unveiled at the AUTOFACT trade show in Chicago tomorrow.
These services allow engineers and designers to connect their desktop computers directly into the Soligen server, in order to receive price quotations and place orders for complex, functional metal parts. Customers can upload their CAD files along with a Request for Quotation, receive a quotation within 24 hours, place an order, and monitor the up-to-date status of each of their orders.
Customers establish secure accounts in which they can monitor transactions, and messages sent and received. PARTS NOW ON-LINE uses a direct dial-in connection and is intended for customers without access to the World Wide Web, or for those who would rather click an icon without having to connect to the Internet.
Both services provide an intuitive graphical interface specifically designed to facilitate the part procurement process. "By connecting via computer to our PARTS NOW service bureau, our production facility becomes, in effect, a networked off site 'printer' for an engineer's designs. This 'printer' quickly provides the customer with a functional metal part in the requested alloy and quantity," Mr. Uziel concluded.
DSPC technology is a proprietary fabrication process for metal parts and tooling that produces ceramic molds for metal casting directly from a CAD file. Soligen's DSPC is based on Three Dimensional Printing (3DP), a technology invented and patented by the Massachusetts Institute of Technology (MIT). 3DP is licensed exclusively to Soligen on a worldwide basis for the field of metal casting.
Three Months Ended | Six Months Ended | |||
09/30/95 | 09/30/94 | 09/30/95 | 09/30/94 | |
Revenues | $671,000 | $450,000 | $1,309,000 | $541,000 |
Net Profit (loss) | $(349,000) | $(617,000) | $(756,000) | $(1,115,000) |
Net Profit (loss) per share | $(0.014) | $(0.030) | $(0.031) | $(0.053) |
Average Number of Shares Outstanding | 24,430,000 | 20,873,000 | 24,011,000 | 20,873,000 |
Contact: | Yehoram Uziel, Soligen Technologies, Inc. | (818) 718-1221 |
Donna Shattuck | (818) 718-1221 |