Ag-Bag International announces second quarter results.WARRENTON, Ore.--(BUSINESS WIRE)--Aug. 6, 1996--Ag-Bag International Limited today announced results for the three months and six months ended June 30, 1996. -0-
AG-BAG INTERNATIONAL LIMITED
For the Three Months For the Six Months
Ended June 30 Ended June 30
Unaudited Unaudited
1996 1995 1996 1995
Net sales $7,370,681 $6,569,285 $11,344,926 $11,096,378
Gross profit from
sales 1,902,780 1,939,746 2,851,076 3,271,551
Income from
operations 530,618 731,348 366,291 894,182
Net income before
taxes 785,842 618,592 598,354 740,233
Net income 495,842 413,592 383,354 493,233
Primary earnings per share $.04 $.03 $.03 $.04 Weighted average common shares outstanding 12,081,251 12,069,489 12,081,251 12,033,913 Shares of common stock outstanding 7/30/96 12,053,751 Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the three month period ended June 30, 1996 were $7,370,681, up 12.20 percent from $6,569,285 for the same period in 1995. Net income for the quarter was $495,842 or $.04 per share compared to $413,592 or $.03 per share for the same period in 1995. Net sales for the six month period ended June 30, 1996 were $11,344,926, up 2.24 percent from $11,096,378 for the same period in 1995. Net income for the six month period ended June 30, 1996 was $383,354 or $.03 per share compared to $493,233 or $.04 per share for the same period in 1995. Larry Inman, Chairman, 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. and President of Ag-Bag International, stated, "Sales for the quarter were up due to the cool, wet spring which delayed some shipments from the first to the second quarter. Also contributing to the increase was the sale of 15 of the Company's newly introduced square bale bale 1. a package of wool in a wool pack weighing 150-250 lb depending largely on whether it is greasy or scoured. 2. a compressed bundle of hay, either about 100 lb tied with wire or twine, or large, round, untied bales, as big as a small hay stack and referred to as 'big bales'. bagging machines." Inman went on to say, "The rising U.S. milk prices have also helped us, as farmers have increased their capital expenditures that were previously on hold." Ag-Bag International Limited, through operations 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 abroad, manufactures and sells to the agricultural industry its farm feed management system for the high moisture storage of silage silage (sī`lĭj) or ensilage (ĕn`səlĭj), succulent, moist feed made by storing a green crop in a silo. The crop most used for silage is corn; others are sorghum, sunflowers, legumes, and grass. and grains. Ag-Bag storage improves feed quality and significantly reduces losses suffered through the use of traditional storage methods such as silos The Silos are a band formed by Walter Salas-Humara and Bob Rupe in New York City in 1985. Prior to starting the Silos, Walter played with The Vulgar Boatmen. With Salas-Humara emerging as the Silos' primary songwriter, the band put out the independently-released EP About Her Steps , bunkers and pits. Additionally, Ag-Bag International Limited markets a complete "in-vessel" system for composting
anosmia Medicine. the absence of the sense of smell; olfactory anesthesia. Also called anosphrasia. — anosmic, adj. halitosis bad breath; an unpleasant odor emanating from the mouth. inherent with traditional composting methods. CONTACT: Ag-Bag International Limited, Warrenton Doug Hoag, 503/245-9985 |
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