PORTLAND, OR, Jan. 30, 1996 -- ThrustMaster, Inc. (NASDAQ:TMSR) today reported revenues rose 26% to $6.4 million compared to $5.1 million in the fourth quarter of 1994. Net income was $406,000 for the quarter compared to $511,000 for the same quarter of 1994. Earnings per share were $0.09 on 4.4 million shares vs. $0.17 on 3.0 million shares in the fourth quarter of 1994.
Revenues for the year ended December 31, 1995 were $19.4 million, an increase of 43% compared to $13.6 million for 1994. Net income was $1.4 million, an increase of 20% compared to $1.1 million for 1994. Earnings per share were $0.33 for 1995 vs. $.40 for 1994.
"We achieved record revenues despite a sluggish Holiday season", commented Stephen Aanderud, ThrustMaster’s President and Chief Executive Officer. "Our bottom line results were lower than anticipated due to product mix, higher sales and marketing expenses and increased competition in the flight simulation area. On the positive side, our new T2 driving controls were a roaring success and show continued strength for 1996. Our continuing efforts to enhance our existing product line and add new products should give us good momentum as we enter 1996", stated Aanderud.
CONTACT: Kent E. Koski, VP Finance and CFO, ThrustMaster, 503-639-3200; or Heidi Flannery, Investor Relations Consultant, Fi. Comm., 503-221-7403/ (TMSR)