American Resources of Delaware Inc. announces impressive earnings growth.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)--Nov. 14, 1995--American Resources of Delaware Delaware, state, United States Delaware (dĕl`əwâr, –wər), one of the Middle Atlantic states of the United States, the country's second smallest state (after Rhode Island). Inc. (ARI ARI Acute respiratory infection, see there or the Company) announced a 2,487% increase in net income for the three months ended Sept. 30, 1995. Primary and fully diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of for the same period were $0.09 and $0.06 respectively (1994 - $0.00 and $0.00). Revenues from the production of oil and gas in the three months ended Sept. 30, 1995 increased by 279% to $1,033,262, primarily as a result of production from the company's successful drilling on the Ship Shoal Block 150 in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . For the nine months ended Sept. 30, 1995, production revenue totaled $2,118,811, or 18.7% of total revenues, up significantly from 10.4% of total revenues a year earlier. While gas marketing continues to produce the largest percentage of total revenues (69.8%), ARI is rapidly developing as a significant producer of oil and gas. Net income after taxes for the nine months ended Sept. 30, 1995 was $1,815,582, up 362% from a year earlier. 1995 income included a net gain after taxes of $1,357,000 from the sale of various creditor An individual to whom an obligation is owed because he or she has given something of value in exchange. One who may legally demand and receive money, either through the fulfillment of a contract or due to injury sustained as a result of another's Negligence claims which ARI had previously acquired. 1994 net income of $392,955 included an extraordinary gain of $252,436. -0- American Resources of Delaware Inc. Financial Highlights
Three Months Ended Nine Months Ended
Sept. 30, Sept. 30,
1995 1994 1995 1994
Revenues $3,716,894 $3,361,876 $11,308,687 $7,588,497 Net income $363,900 $14,066 $1,815,582 $392,955 Primary net income per share $ 0.09 $ 0.00 $ 0.49 $ 0.16 Fully diluted net income per share $ 0.06 $ 0.00 $ 0.33 $ 0.14 CONTACT: American Resources of Delaware Inc., Scottsdale Investor Relations Investor relations The process by which the corporation communicates with its investors. Department, 602/945-9195 |
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