ALATENN RESOURCES REPORTS 15% HIGHER SECOND QUARTER NET INCOME.FLORENCE Florence, city, Italy Florence (flôr`əns, flŏr`–), Ital. Firenze, city (1991 pop. 403,294), capital of Tuscany and of Firenze prov., central Italy, on the Arno River, at the foot of the Apennines. , Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--August 10, 1995--AlaTenn Resources, Inc. (Nasdaq/NM:ATNG) today announced higher earnings for the second quarter and six-month period ended June June: see month. 30, 1995. Net income for the quarter increased 15% to $1.3 million or $.60 per share compared with $1.1 million or $.52 per share in the year-earlier period. Second quarter revenues totaled $16.4 million, down slightly from revenues of $17.0 million in the second quarter of 1994. Net income for the first half of 1995 rose 17% to $2.8 million or $1.32 per share compared with $2.4 million or $1.13 per share in the prior-year period. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. revenues increased 5% to $38.9 million versus $37.0 million for the first half of 1994. "Our second quarter results continued to affirm the underlying strength of our operations," said Jerry A. Howard, Chairman of the Board, President and Chief Executive Officer. "Pipeline volumes have remained strong while off-system sales by our natural gas marketing unit increased considerably. In addition, our health care products business continues to enhance our overall growth prospects." Howard noted that, during the quarter, the Company completed a definitive agreement to build and manage a 23-mile gaseous gas·e·ous adj. 1. Of, relating to, or existing as a gas. 2. Full of or containing gas; gassy. oxygen pipeline. This project, another step in the Company's plan to broaden its focus beyond the traditional natural gas business, will link one of the Company's current natural gas customers to its industrial gas supplier. Howard said he expects the new pipeline to become operational in the first quarter of 1996. AlaTenn Resources, Inc. is a diversified diversified (di·verˑ·s holding company. The company's energy subsidiaries transport and market natural gas for customers in the Tennessee Valley The Tennessee Valley is the drainage basin of the Tennessee River and is largely within the U.S. state of Tennessee. It stretches from southwest Kentucky to northwest Georgia and from northeast Mississippi to the mountains of Virginia and North Carolina. region. Through Ryder International Corporation, the Company designs, develops and manufactures innovative proprietary products for leading health care companies worldwide. -0-
ALATENN RESOURCES, INC.
Unaudited Financial Highlights
Three Months Ended Six Months Ended
June 30, June 30,
1995 1994 1995 1994
Revenues $16,377,000 $16,963,000 $38,931,000 $36,970,000 Net income $ 1,261,000 $ 1,096,000 $ 2,792,000 $ 2,384,000 Earnings per share $ .60 $ .52 $ 1.32 $ 1.13 Average shares outstanding 2,115,948 2,111,284 2,115,717 2,111,284 CONTACT: AlaTenn Resources, Inc., Florence George G. Petty Petty girl airbrushed beauty, scantily clad in Esquire’s pages. [Am. Lit.: Misc.] See : Sex Symbols , 205/383-3631 |
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