SANTA ANA, Calif., Feb. 16 /PRNewswire-FirstCall/ -- TROY Group,
Inc. (OTC:TROY) today announced that financial results for the
fiscal year 2006, which ended November 30, 2006, have been posted
on the company's Web site at http://www.troygroup.com/. To access
the report, click on About TROY Group then click on Financials.
TROY's 2006 financial results are also posted at
http://www.pinksheets.com/. Enter TROY in the symbol field then
click on Financial Report. Revenue for the year ended November 30,
2006 increased to $50.0 million compared to revenue for the year
ended November 30, 2005 of $42.0 million largely due to the one
time purchase of printers by one customer. Earnings from continuing
operations for the year ended November 30, 2006 increased to $0.54
per share compared to $0.32 per share for the year ended November
30, 2005. For more information Contact: TROY Group, Inc. 2331 South
Pullman Street Santa Ana, CA 92705 (949) 250-3280 (949) 250-8972
Facsimile http://www.troygroup.com/ Contact: Dennis C. Fairchild
Vice President & CFO Financial Data Summary Following TROY
GROUP, INC. CONSOLIDATED BALANCE SHEETS November 30, 2005 2006
ASSETS Current assets: Cash and cash equivalents $492,000 $350,000
Investment in available-for-sale securities 12,600,000 9,650,000
Accounts receivable, net of allowance for doubtful accounts 2005
$472,000; 2006 $322,000 6,416,000 5,788,000 Inventories 3,053,000
3,980,000 Prepaid expenses and other 707,000 917,000 Deferred tax
assets 2,525,000 874,000 Current assets of discontinued operations
held for sale 3,336,000 -- Total current assets 29,129,000
21,559,000 Equipment and leasehold improvements, net 2,501,000
2,126,000 Goodwill 281,000 281,000 Other assets, including
receivables from stockholders of $1,903,000 2,925,000 3,324,000
Non-current assets of discontinued operations held for sale 38,000
-- Total assets $34,874,000 $27,290,000 LIABILITIES AND
STOCKHOLDERS' EQUITY Current liabilities: Accounts payable
$2,236,000 $4,310,000 Accrued expenses 3,439,000 3,171,000 Deferred
revenue 1,422,000 1,994,000 Current liabilities of discontinued
operations held for sale 1,667,000 -- Total current liabilities
8,764,000 9,475,000 Commitments and contingencies Stockholders'
equity: Preferred stock, no par value, authorized 100,000 shares;
issued none Common stock, par value $0.01 per share; authorized
13,000,000 shares; issued 2005 10,639,877 shares; issued 2006
10,563,701 shares 107,000 106,000 Additional paid-in capital
19,913,000 20,510,000 Retained earnings (deficit) 6,523,000
(2,801,000) Accumulated other comprehensive income 59,000 -- Less
cost of treasury stock - 2005 201,510 shares (492,000) -- Total
stockholders' equity 26,110,000 17,815,000 Total liabilities and
stockholders' equity $34,874,000 $27,290,000 TROY GROUP, INC.
CONSOLIDATED STATEMENTS OF INCOME Fiscal Years Ended November 30,
2004 2005 2006 Net sales $38,794,000 $41,979,000 $50,029,000 Cost
of goods sold (including rent paid to majority stockholders: 2004
$279,000, 2005 $291,000 and 2006 $315,000) 24,068,000 24,609,000
28,717,000 Gross profit 14,726,000 17,370,000 21,312,000 Operating
expenses: Selling, general and administrative 12,865,000 9,180,000
10,566,000 Research and development 2,874,000 3,043,000 3,063,000
Amortization of intangible assets 75,000 75,000 10,000 Total
operating expenses 15,814,000 12,298,000 13,639,000 Operating
income (loss) (1,088,000) 5,072,000 7,673,000 Interest income
131,000 321,000 874,000 Income (loss) from continuing operations
before income taxes (957,000) 5,393,000 8,547,000 Provision for
(benefit from) income taxes (368,000) 2,034,000 2,856,000 Income
(loss) from continuing operations (589,000) 3,359,000 5,691,000
Income (loss) from discontinued operations, net of tax 1,174,000
(826,000) 6,018,000 Net income $585,000 $2,533,000 $11,709,000 Net
income per share: Basic income (loss) from continuing operations
$(0.06) $0.32 $0.54 Basic income (loss) from discontinued
operations 0.11 (0.08) 0.58 Basic income $0.05 $0.24 $1.12 Diluted
income (loss)from continuing operations $(0.06) $0.32 $0.54 Diluted
income (loss) from discontinued operations 0.11 (0.08) 0.58 Diluted
income $0.05 $0.24 $1.12 Weighted average shares outstanding: Basic
10,641,000 10,607,000 10,469,000 Diluted 10,650,000 10,608,000
10,475,000 About TROY Group TROY Group, Inc. ("TROY") is a
worldwide provider of secure payment solutions. Our security
printing solutions include application software, high security
check printing hardware and specialized consumables for secure
printing and payment applications. Our ACH (Automated Clearing
House) software includes ACH processing and origination software
and consulting services. We sell and service our products to major
corporations, banks, key government accounts and distributors
worldwide. Visit TROY at http://www.troygroup.com/. Forward-looking
statements of TROY (statements that are not historical fact) in
this news release are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements may be identified by terms such as
believe, expect, may, will, could and should, and the negative of
these terms or other similar expressions. These statements are
subject to risks and uncertainties that could cause actual results
to differ materially from those discussed in the forward-looking
statements. These risks and uncertainties include, but, are not
limited to, the ability to develop new products, the ability to
hire and retain qualified management, technology and other
personnel, the impact of competition from existing and new
technologies and companies and the other factors set forth in our
periodic reports and other documents that we distribute from time
to time which are available in our financial statements under
certain important factors on our website TROYgroup.com or
pinksheets.com. Statements included in this news release are based
upon information known to TROY as of the date of this release, and
TROY assumes no obligation to update information contained in this
news release. DATASOURCE: TROY Group, Inc. CONTACT: Dennis C.
Fairchild, Vice President & CFO of TROY Group, Inc.,
+1-949-250-3280, or fax, +1-949-250-8972 Web site:
http://www.troygroup.com/
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