IDS Reports Year End Revenue Up 39%; Earnings Up 138%

Apr 02, 2001, 01:00 ET from Industrial Data Systems Corporation

    HOUSTON, April 2 /PRNewswire/ --
 Industrial Data Systems Corporation (Amex:   IDS) today announced results for
 its fourth quarter and the year ended December 31, 2000.  A Form 10-KSB has
 been filed with the Securities and Exchange Commission reflecting these year-
 end results.
     For the year 2000, the Company showed across the board improvement that
 included increases in revenue, operating profit and net profit.  IDS'
 consolidated revenues for 2000 increased $4.7 million, or 38.7%, over the
 prior year to a record level of approximately $17 million.  The Company's
 engineering subsidiary contributed 63.3% of this revenue total, and recorded
 an impressive 79.7% year over year revenue growth.  Net income for 2000 was
 $381 thousand, or $.03 per share, compared with a net loss of $323 thousand,
 or ($.02) per share for 1999.  The 1999 results include a one time
 $483 thousand net loss on the disposal of a discontinued operation.
     For the fourth quarter ended December 31, 2000, revenue increased to
 $5.1 million, or 64.5%, versus revenue of $3.1 million in the year ago
 quarter.  The Company recorded a net profit for the quarter of $77 thousand,
 or $.01 cents per share, compared with a net loss of $24 thousand, or ($.02)
 per share, for the fourth quarter of 1999.
     William A. Coskey, Chairman and CEO, stated, "On behalf of all IDS
 associates, I am proud to report these positive results for last year.  In
 general, we endured a flat first half of the year, with most of the improved
 performance coming during the 3rd and 4th quarters.  Our business should
 continue to show positive results during the first half of 2001.
     To our shareholders, I want to say that management is not complacent about
 the current stock price and we intend to continue operating the Company for
 your benefit.  We believe that we have a good strategic plan in place and are
 capable of achieving accelerated growth.  During the remainder of 2001, I look
 forward to reporting significant events regarding your Company as they occur."
     Industrial Data Systems Corporation is a group of service providers and
 specialty manufacturers.  Consulting services are provided to the pipeline and
 process industries for development, management and turnkey execution
 engineering projects.  Manufactured products include conditioned power systems
 and HVAC equipment.
 
 
     Comparative Analysis
 
                        Three months  Three months Twelve months Twelve months
                               ended         ended         ended         ended
                             Dec. 31,      Dec. 31,      Dec. 31,      Dec. 31,
                                2000          1999          2000          1999
 
     Net Sales            $5,110,922    $3,103,300   $16,976,023   $12,238,449
 
     Net Income (Loss) from
      Continuing Operations
      Before Taxes        $  118,985   ($  240,429)  $   503,647   $   310,954
 
     Net Income (Loss) from
      Continuing Operations
      After Taxes         $   77,217   ($  305,914)  $   380,879   $   159,742
 
     Discontinued
      Operations                  --    $  282,204            --  ($   483,057)
 
     Net Income (Loss)    $   77,217   ($   23,710)  $   380,879  ($   323,315)
 
     Net Income (Loss)
      Per Common Share
      (Basic and Diluted):
     Continuing Operations      0.01         (0.02)         0.03          0.01
     Discontinued Operations      --          0.02            --         (0.03)
     Net Income (Loss)          0.01            --          0.03         (0.02)
 
     Certain matters discussed in this press release may constitute
 forward-looking statements within the meaning of the federal securities laws
 and are subject to risks and uncertainties including, but not limited to, the
 Company's ability to achieve its acquisition strategy, while effectively
 managing costs and expenses.  Actual results and the timing of certain events
 could differ materially from those projected in or contemplated by the
 forward-looking statements due to a number of factors, including changes in
 the securities or financial markets or in general economic conditions, the
 availability of equity and debt financing, competition for acquisitions of
 interest, and other risks detailed from time to time in IDS' filings with the
 Securities and Exchange Commission.  Reference is hereby made to cautionary
 statements set forth in the Company's Form 10-KSB for the year ended December
 31, 2000, Form 10-QSB for the quarters ended and March 31, June 30, and
 September 30, 2000, current Forms 8-K, and other SEC filings.
 
 

SOURCE Industrial Data Systems Corporation
    HOUSTON, April 2 /PRNewswire/ --
 Industrial Data Systems Corporation (Amex:   IDS) today announced results for
 its fourth quarter and the year ended December 31, 2000.  A Form 10-KSB has
 been filed with the Securities and Exchange Commission reflecting these year-
 end results.
     For the year 2000, the Company showed across the board improvement that
 included increases in revenue, operating profit and net profit.  IDS'
 consolidated revenues for 2000 increased $4.7 million, or 38.7%, over the
 prior year to a record level of approximately $17 million.  The Company's
 engineering subsidiary contributed 63.3% of this revenue total, and recorded
 an impressive 79.7% year over year revenue growth.  Net income for 2000 was
 $381 thousand, or $.03 per share, compared with a net loss of $323 thousand,
 or ($.02) per share for 1999.  The 1999 results include a one time
 $483 thousand net loss on the disposal of a discontinued operation.
     For the fourth quarter ended December 31, 2000, revenue increased to
 $5.1 million, or 64.5%, versus revenue of $3.1 million in the year ago
 quarter.  The Company recorded a net profit for the quarter of $77 thousand,
 or $.01 cents per share, compared with a net loss of $24 thousand, or ($.02)
 per share, for the fourth quarter of 1999.
     William A. Coskey, Chairman and CEO, stated, "On behalf of all IDS
 associates, I am proud to report these positive results for last year.  In
 general, we endured a flat first half of the year, with most of the improved
 performance coming during the 3rd and 4th quarters.  Our business should
 continue to show positive results during the first half of 2001.
     To our shareholders, I want to say that management is not complacent about
 the current stock price and we intend to continue operating the Company for
 your benefit.  We believe that we have a good strategic plan in place and are
 capable of achieving accelerated growth.  During the remainder of 2001, I look
 forward to reporting significant events regarding your Company as they occur."
     Industrial Data Systems Corporation is a group of service providers and
 specialty manufacturers.  Consulting services are provided to the pipeline and
 process industries for development, management and turnkey execution
 engineering projects.  Manufactured products include conditioned power systems
 and HVAC equipment.
 
 
     Comparative Analysis
 
                        Three months  Three months Twelve months Twelve months
                               ended         ended         ended         ended
                             Dec. 31,      Dec. 31,      Dec. 31,      Dec. 31,
                                2000          1999          2000          1999
 
     Net Sales            $5,110,922    $3,103,300   $16,976,023   $12,238,449
 
     Net Income (Loss) from
      Continuing Operations
      Before Taxes        $  118,985   ($  240,429)  $   503,647   $   310,954
 
     Net Income (Loss) from
      Continuing Operations
      After Taxes         $   77,217   ($  305,914)  $   380,879   $   159,742
 
     Discontinued
      Operations                  --    $  282,204            --  ($   483,057)
 
     Net Income (Loss)    $   77,217   ($   23,710)  $   380,879  ($   323,315)
 
     Net Income (Loss)
      Per Common Share
      (Basic and Diluted):
     Continuing Operations      0.01         (0.02)         0.03          0.01
     Discontinued Operations      --          0.02            --         (0.03)
     Net Income (Loss)          0.01            --          0.03         (0.02)
 
     Certain matters discussed in this press release may constitute
 forward-looking statements within the meaning of the federal securities laws
 and are subject to risks and uncertainties including, but not limited to, the
 Company's ability to achieve its acquisition strategy, while effectively
 managing costs and expenses.  Actual results and the timing of certain events
 could differ materially from those projected in or contemplated by the
 forward-looking statements due to a number of factors, including changes in
 the securities or financial markets or in general economic conditions, the
 availability of equity and debt financing, competition for acquisitions of
 interest, and other risks detailed from time to time in IDS' filings with the
 Securities and Exchange Commission.  Reference is hereby made to cautionary
 statements set forth in the Company's Form 10-KSB for the year ended December
 31, 2000, Form 10-QSB for the quarters ended and March 31, June 30, and
 September 30, 2000, current Forms 8-K, and other SEC filings.
 
 SOURCE  Industrial Data Systems Corporation