American Vanguard Corporation announces 1996 first quarter results; Company Reports First Quarter Profits For First Time Since 1992.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Calif.--(BUSINESS WIRE)--May 6, 1996--American Vanguard Corp. (Nasdaq National Market:AMGD AMGD Acromesomelic Dysplasia, Grebe Type ) today reported increased sales and the Company's first profits for the period ended March 31st since 1992.
QUARTER ENDED
3/31/96 3/31/95
(Unaudited)
Net sales $10,421,100 $10,134,300 Gross profits 4,173,100 3,831,800 Operating income 816,200 113,700 Interest expense - net (258,700) (242,600) Income (loss) from operations before income taxes 557,500 (128,900) Income taxes (expense) benefit (223,000) 51,400 Net income (loss) $ 334,500 $ (77,500) Per share information (1): Net income (loss) $.13 $(.03) Weighted average number of shares 2,522,079 2,556,032 (1) Earnings per share have been restated to reflect a 10% stock dividend which was paid on March 15, 1996 to stockholders of record as of February 29, 1996. Eric Wintemute, 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 American Vanguard, commented, "We are very pleased to report higher sales and profitable results in the first quarter of 1996. The 1996 first quarter product mix coupled with lower operating costs operating costs npl → gastos mpl operacionales favorably impacted our operating performance. Since our business is historically heavily weighted to the fourth quarter, we are particularly encouraged by our first quarter performance. American Vanguard Corporation conducts its business through several subsidiaries including AMVAC Chemical Corp., a specialty chemical A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. manufacturer that develops and markets safe and effective products for agricultural and commercial uses; GemChem, Inc., a national chemical distributor; AMVAC Chemical UK Ltd., the Company's Surrey, England-based office; and Environmental Mediation, Inc., an environmental consulting firm. CONTACT: American Vanguard Corporation, Los Angeles Eric G. Wintemute or James Barry, (714) 260-1200 or AMGD'S INVESTOR RELATIONS Investor relations The process by which the corporation communicates with its investors. FIRM The Equity Group Inc., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Tamara Ehlin, (212) 836-9607 |
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