Antenna Products, Inc. Announces Third Quarter Financial Results.Business Editors MINERAL WELLS Mineral Wells, city (1990 pop. 14,870), Palo Pinto and Parker counties, N Tex.; inc. 1882. Aluminum products, bottled mineral water, clothing, and pharmaceuticals are produced, and there is gas processing. , Texas--(BUSINESS WIRE)--April 20, 2000 Antenna Products, Inc. (Nasdaq:ANTP ANTP Asociacion Nacional de Transporte Privado (México) ) announced third quarter financial results on April 14, 2000. The company recorded a net loss of $(22,349) for the quarter ended February 29, 2000, compared to a net profit of $70,572 in the quarter ended February 28, 1999. Sales for the third quarter of fiscal year 2000 were $1.6 million, up from $1.3 million in the second quarter of fiscal year 2000. Sales for the third quarter of fiscal year 1999 were $1.7 million. The loss in the third quarter was the result of the increase in administrative expenses for legal and professional fees incurred during the acquisition of The Upholstery upholstery, general term for household fittings, hangings, curtains, cushions, and covers. It refers to stuffed, padded, and spring-cushioned furniture, such as chairs and sofas, or to the usually decorative materials and fabrics that cover them. Shop, Inc., an aircraft interior refurbishment re·fur·bish tr.v. re·fur·bished, re·fur·bish·ing, re·fur·bish·es To make clean, bright, or fresh again; renovate. re·fur business. The assets and business of The Upholstery Shop, Inc. were purchased on January 27, 2000. Demand for the services provided at The Upholstery Shop was strong in February and The Upholstery Shop will have to operate at maximum capacity in the fourth quarter to accommodate the increasing backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of customer orders. Information on the Company's new products is available on the Internet web page at: www.antennaproducts.com. The common stock of Antenna Products, Inc., is listed on the Nasdaq SmallCap Market under the trading symbol Trading symbol See: Ticker symbol "ANTP." This press release contains forward-looking information within the meaning of Section 29A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements 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. include statements concerning plans, objectives, goals, strategies, future events or performances and underlying assumption and other statements, which are other than statements of historical facts. Certain statements contained herein are forward-looking statements and, accordingly, involve risks and uncertainties, which could cause actual results, or outcomes to differ materially from those expressed in the forward-looking statements. The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, including without limitations, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties, but there can be no assurance that management's expectations, beliefs or projections will result, or be achieved, or accomplished. |
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