American Bank Note Holographics Reports Third Quarter Financial Results.ROBBINSVILLE, N.J. -- American Bank Note Holographics, Inc. ("ABNH ABNH American Bank Note Holographics, Inc " or the "Company") (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : ABHH) a world leader in the origination, production and marketing of holograms for security applications, today announced financial results for the third quarter and nine months ended September 30, 2006. Sales in the third quarter of 2006 were $6.6 million compared with $9.0 million in the third quarter of 2005, a decrease of $2.4 million or 27%. Sales for the first nine months of 2006 totaled $24.9 million compared with $22.2 million for the first nine months of 2005, an increase of $2.7 million or 12%. Net income for the third quarter of 2006 was $0.7 million, or $0.04 per fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share versus $1.1 million, or $0.06 per fully diluted share, for the third quarter of 2005. Net income for the first nine months of 2006 was $2.7 million, or $0.14 per fully diluted share versus $2.2 million, or $0.11 per fully diluted share, for the first nine months of 2005. Kenneth H. Traub, 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 ABNH, commented, "As we previously reported, sales declined this quarter from the year earlier as a result of the cessation cessation Vox populi The stopping of a thing. See Smoking cessation. of the Visa HoloMag[TM] program. Despite this we were able to generate net income of $0.7 million in the quarter and we ended the quarter with over $13 million in cash and no debt." About American Bank Note Holographics, Inc. American Bank Note Holographics is a world leader in the origination, production, and marketing of holograms. The Company's products are used primarily for security applications such as counterfeiting counterfeiting, manufacturing spurious coins, paper money, or evidences of governmental obligation (e.g., bonds) in the semblance of the true. There must be sufficient resemblance to the genuine article to deceive a person using ordinary caution. protection of transaction cards, identity documents, documents of value, pharmaceuticals and other consumer and industrial products. The Company's headquarters is in Robbinsville, NJ. For more information, visit www.abnh.com. ABNH Forward-Looking Statement 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. Certain statements contained in this release, including without limitation, statements containing the words "believes," "intends," "expects," "anticipates," and words of similar import, constitute "forward-looking statements" within the meaning of the private securities litigation reform act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are based on current management expectations. Numerous factors, including those disclosed herein, those related to transaction card industry trends and those detailed in our filings with the Securities and Exchange Commission (as set forth under the heading "Risk Factors" in our Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2005), may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine our future results are beyond our capability to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially. Readers should not place undue reliance on such forward-looking statements which reflect management's view only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. This release and prior releases are available on the ABNH website at www.abnh.com. [TABLE OMITTED] [TABLE OMITTED] |
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