Alanco Reports First Quarter Results.SCOTTSDALE Scottsdale, city (1990 pop. 130,069), Maricopa co., central Ariz.; settled in 1895 by Winfield Scott, inc. 1951. It is a resort and retirement center in the Phoenix metropolitan area. , Ariz.--(BUSINESS WIRE)--Oct. 21, 1997-- Revenue, Operating Income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. Jump; Per Share Loss Narrows Sharply Alanco Environmental Resources Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALAN) Tuesday Tuesday: see week. reported sharply higher revenue for the first quarter ended Sept. 30, 1997, as well as a major positive shift in operating income for the quarter. Sales for the quarter of $2,606,357, a record for the company, compared to $1,503,857 for the same quarter a year earlier. Alanco reported another company first, with positive income from operations of $13,466 for the quarter. That compares with a loss from operations of $341,157 for the quarter a year earlier. Net loss from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the for the quarter of $51,083, or $0.001 per share, compares to a loss of $350,569, or $0.01 for the period a year ago. Edward Edward killed his father at his mother’s instigation. [Br. Balladry: Edward in Benét, 302] See : Patricide J. Maley, president and chief executive officer of Alanco, said, "I would particularly like to call our shareholders attention to net cash provided by our operations. We have gone from a negative cash flow of $395,000 for the quarter a year ago, to a positive cash flow of $254,000 this quarter. This is an impressive positive swing of $649,000 for the first quarter." "The first quarter is indicative of the direction Alanco is headed this new fiscal year," said Maley. "Although the results represent a dramatic improvement, we want our shareholders to know we have only begun. We have a great deal of work and opportunity ahead in the food services food services Hospital services A 24/7 department in a hospital that provides for the nutritional needs of inpatients–eg, those needing special diets, preparing meals and transporting them to the floor and, through the cafeteria, the hospital staff and and environmental divisions." Maley attributed most of the revenue growth to the company's Fry Guy food services segment. "Fry Guy accounted for 76 percent of our revenue growth. We see room for substantial continued growth in Fry Guy in the months immediately ahead, as well as in our environmental segment," said Maley. "While our loss per share has been cut dramatically, the important point is the speed at which we are closing in on profitability." In September September: see month. , Alanco announced it had established a working capital line of credit to supplement the improving cash flow. -0-
Alanco Environmental Resources Corp.
Consolidated Statement of Operations
For the Three Months Ended Sept. 30, 1997
Sept. 30
1997 1996
Total sales $2,606,357 $1,503,857
Net loss $(51,083) $(485,809)
Net loss per share ($0.001) ($0.01)
Weighted average common
share outstanding 35,346,527 33,364,278
CONTACT: Alanco Shareholder Relations, 602/607-1010 |
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