BCT International, Inc. Announces 7% Revenue Growth and 10% Increase in Income Before Income Taxes for the First Nine Months of FY2000.Business Editors FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--Jan. 18, 2000 BCT BCT Brigade Combat Team BCT Basic Combat Training BCT Best Conventional Pollutant Control Technology (EPA) BCT Business Cards Tomorrow BCT Banque Centrale de Tunisie (Central Bank of Tunisia) International, Inc. (Nasdaq:BCTI BCTI Business Computer Training Institute BCTI Battlefield Control Terminal Interface ), which through its Franchises operates the world's largest wholesale printing chain, today announced a 7% increase in revenues and a 10% increase in pretax income pretax income Reported income before the deduction of income taxes. Pretax income is sometimes considered a better measure of a firm's performance than aftertax income because taxes in one period may be influenced by activities in earlier periods. for the first nine months of the fiscal year which ends February February: see month. 29, 2000. Net income for the first nine months decreased 5% because the Company's effective tax rate is 35% in fiscal 2000 as compared to 21% in the first nine months of the prior fiscal year. During the quarter ended November November: see month. 30, 1999, the Company's revenues increased 6% to $4.9 million, compared with revenues of $4.6 million in the third quarter of the previous fiscal year. Net income was $440,000, or $0.09 per basic share ($0.08 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. ), versus net income of $571,000, or $0.11 per basic share ($0.10 diluted), in the quarter ended November 30, 1998. Revenues for the nine-month period ended November 30, 1999 increased 7% to $15 million, when compared with revenues of $14 million in the corresponding period of the previous fiscal year. Net income of $1,707,000, or $0.32 per basic share ($0.31 diluted), during the first nine months of the current fiscal year compared with prior-year net income of $1,798,000, or $0.33 per basic share ($0.32 diluted). "Income before income taxes for the three and nine months ended November 30, 1999 was negatively impacted by severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when and moving expenses associated with the change in the President and C.E.O. position, the Vice President of Marketing position, the addition of a Vice President of Operations and a Director of National Sales. Additionally, we have invested research and development dollars in our new Internet See Web 2.0 and Internet2. based ordering system, orderprinting.com," said Peter Gaughn, President and Chief Executive Officer. BCT International, Inc. is a holding company which operates Business Cards Tomorrow, the world's largest wholesale printing chain, with 87 Franchises in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, and Argentina. The Company is headquartered in Ft. Lauderdale, Florida and its common stock trades on Nasdaq under the symbol "BCTI". This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions 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. 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. inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, product prices and raw material costs, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. (Financial Highlights Follow)
BCT INTERNATIONAL, INC.
SELECTED CONSOLIDATED FINANCIAL HIGHLIGHTS ($000)
(Unaudited)
Three Months Ended
Nov 30, Nov 30,
1999 1998
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Revenues $ 4,895 $ 4,618
Net income $ 440 $ 571
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Net income per common share:
Basic $ 0.09 $ 0.11
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Diluted $ 0.08 $ 0.10
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Nine Months Ended
Nov 30, Nov 30,
1999 1998
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Revenues $ 14,959 $ 13,921
Net income $ 1,707 $ 1,798
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Net income per common share:
Basic $ 0.32 $ 0.33
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Diluted $ 0.31 $ 0.32
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