An-Con Genetics reports profitable fiscal year 1996: Sees trend continuing.MELVILLE, N.Y.--(BUSINESS WIRE)--April 1, 1997--An-Con Genetics genetics, scientific study of the mechanism of heredity. While Gregor Mendel first presented his findings on the statistical laws governing the transmission of certain traits from generation to generation in 1856, it was not until the discovery and detailed study of Inc. (AGNT AGNT Association for Global New Thought AGNT Agent Table : OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB) today reported record sales totaling $7.5 million, representing an increase of 36 percent when compared to $5.5 million recorded in fiscal 1995. Net income rose to $407,300 or 5 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , representing a dramatic turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. from a net loss of ($154,100) or a 4 cent per share loss last year. Chairman, J. Robert Saron, stated, "We are pleased with our performance, particularly by the fact that 61 percent of the increase in revenues was attributable to new products introduced during fiscal 1996. In addition, the financial results are tangible indications that our programs of new product development and geographic expansion coupled with improved productivity is successful. Management's commitment to continue on this path, including a selective acquisition program, permits us to be optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the company's future." An-Con Genetics Inc. through its wholly-owned subsidiary, Aaron Medical Industries Inc. is engaged in the manufacturing and marketing of a diverse line of premium medical devices and proprietary tissue fixatives. -0-
An-Con Genetics Inc.
For the Period Ending December 31, 1996
Twelve Months Ended December 31, 1996
1996 1995
Revenues $7,485,900 $5,521,000
Net income 407,300 (154,100)
Per share net income .05 (.04)
Fully diluted weighted average shares 7,663,872 4,354,349
CONTACT: An-Con Genetics Inc., Melville Andrew Makrides, 516/694-8470 |
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