[0] Super Vision Reports 2nd Quarter Results.Business Editors/Health & Medical Writers ORLANDO Orlando, city, United States Orlando (ôrlăn`dō), city (1990 pop. 164,693), seat of Orange co., central Fla., in a lake region; inc. 1875. In a citrus fruit and farm area, it is one of the world's most visited vacation spots. , Fla.--(BUSINESS WIRE)--Aug. 9, 2000 Super Vision International, Inc. (Nasdaq:SUPVA), a world leader in the design and manufacture of fiber optic lighting products, signs and displays for applications in the signage, swimming pool, architectural and retail industries, today announced its financial results for the quarter ended June June: see month. 30, 2000. Total revenues for the three months ended June 30, 2000 were $2,750,200, an increase of 18% as compared to the second quarter of 1999. Year to date revenues for the period ended June 30, 2000 were $5,277,481, an increase of $608,361 or 13% as compared to the same period last year. The increase in revenues was primarily the result of growth in the pool and spa market due to Super Vision's exclusive marketing and sales partner, Hayward Hayward, city (1990 pop. 111,498), Alameda co., W Calif.; settled 1851, inc. 1876. It is an important commercial and distribution center for farm products. Manufactures include wire, plastics, metal and paper products, textiles, machinery, and motor vehicles. Pool Products, Inc. Super Vision also reported a net loss of $250,371, or $0.10 per share, for the three months ended June 30, 2000, as compared to a net loss of $371,882, or $0.15 per share, for the same period in 1999. Year to date, the net loss reported was $265,032, or $0.10 per share, as compared to a loss of $341,039, or $0.14 per share, for the first six months of 1999. "Revenues from the pool market exceeded the first half of 1999 by 130%, while lower than expected revenues, from the architectural market diminished di·min·ish v. di·min·ished, di·min·ish·ing, di·min·ish·es v.tr. 1. a. To make smaller or less or to cause to appear so. b. the growth achieved in the pool market", stated Larry Calise, Super Vision's CFO See Chief Financial Officer. . Brett Kingstone, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Super Vision stated, "Weaker than anticipated revenues from the architectural market have prompted a review of our relationship with Cooper Lighting, Inc. After the review, it was determined that it was in the best interest of both companies for Super Vision to establish a direct sales position in the market place." Effective October 31, 2000, Cooper Lighting's exclusive rights for sale of Super Vision's fiber optic products in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada will expire expire /ex·pire/ (ek-spi´er) 1. to exhale. 2. to die. ex·pire v. 1. To breathe one's last breath; die. 2. To exhale. . Super Vision will market and distribute its product through a network of individual lighting agents covering the United States and Canada, and it has begun the process of recruiting lighting agents. To date, Super Vision has reached agreements to rehire Re`hire´ v. t. 1. To hire again. 54 lighting agents. In addition, Cooper Lighting has assisted in the transfer of its agency base to support the distribution of Super Vision fiber optic products in the architectural lighting market. As a result of this change Super Vision does not expect any significant reduction in its sales of fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber products to the architectural market. Ralph Jackson For Ralph Jackson, the independent candidate in the 1995 Manitoba provincial election, see Independent candidates, 1995 Manitoba provincial election. Ralph A. Jackson , Executive Vice President of Cooper Industries Cooper Industries NYSE: CBE is one of the oldest large companies in the United States, having been founded in 1833 as a partnership in Mount Vernon, Ohio. Incorporated in Ohio as The C. & G. , stated "Cooper Industries intends to retain its holdings in Super Vision International for the immediate future." Mr. Kingstone continued, "During the second quarter Super Vision made a major breakthrough in cable design, with the development of a new line of SideGlow(R)cable. We expect that the product will be introduced in August 2000 and that it will be a substantial leap ahead for fiber optic lighting, placing Super Vision ahead of the competition." "The new Ultra cable light output is twice the brightness of the industry's leading cable, the sv168 SideGlow(R)cable. The flexibility and bend radius Bend radius, which is measured to the inside curvature, is the minimum radius one can bend a pipe, tube, sheet, cable or hose to without kinking it, damaging it, or shortening its life. of the cable are the same as the standard SideGlow(R) cable with much greater light output. This amount of light should get the attention of those who require the brightness of neon neon (nē`ŏn) [Gr.,=new], gaseous chemical element; symbol Ne; at. no. 10; at. wt. 20.179; m.p. −248.67°C;; b.p. −246.048°C;; density 0.8999 grams per liter at STP; valence 0. Neon is a colorless, odorless, and tasteless gas. ," stated Roy Archer, Super Vision's director of engineering. Super Vision's products are used in the architectural, lighting, landscape, sign and swimming pool industries. Super Vision's SideGlow(R) cable is manufactured as a replacement for neon and Super Vision's EndGlow(R) cable is manufactured for conventional downlighting and underwater/hazardous area lighting. Super Vision is owned in part by Cooper Industries (NYSE NYSE See: New York Stock Exchange : CBE CBE Commander of the Order of the British Empire (a Brit. title) CBE n abbr (= Companion of (the Order of) the British Empire) → título de nobleza CBE n abbr (= ) and Hayward Industries, major manufacturers of lighting and pool products respectively. For more information, please visit the Super Vision web site at www.svision.com. Certain of the above statements contained in this press release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Reference is made to Super Vision's filings under the Securities Exchange Act for factors that could cause actual results to differ materially. Super Vision undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements.
SUPER VISION INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
Three Months Six Months
Ended June 30, Ended June 30,
2000 1999 2000 1999
Revenues $ 2,750,200 $ 2,340,872 $ 5,277,481 $ 4,669,120
Cost and Expenses:
Cost of sales 2,002,411 1,641,857 3,797,232 3,092,629
Selling,
general and
administrative 851,996 836,479 1,446,829 1,464,200
Research and
development 108,249 150,216 208,706 294,439
Total costs
and expenses 2,962,656 2,628,552 5,452,767 4,851,268
Operating income (212,456) (287,680) (175,286) (182,148)
Non-operating
income (expense):
Interest income 42,765 31,147 85,752 67,545
Interest expense (109,915) (112,885) (220,233) (223,972)
Other income 25,968 -- 41,468 --
Gain on sale of
investments 2,842 -- 2,842 --
Gain (Loss) on
disposal of
fixed assets 425 (2,464) 425 (2,464)
Total
non-operating
expense (37,915) (84,202) (89,746) (158,891)
Loss before
income taxes (250,371) (371,882) (265,032) (341,039)
Income taxes -- -- -- --
Net loss $ (250,371) $ (371,882) $ (265,032) $ (341,039)
Net Loss Per
Common Share:
Basic $ (0.10) $ (0.15) $ (0.10) $ (0.14)
Diluted $ (0.10) $ (0.15) $ (0.10) $ (0.14)
Weighted Average
Shares:
Basic 2,569,084 2,477,915 2,566,799 2,477,762
Diluted 2,569,084 2,477,915 2,566,799 2,477,762
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