Ballard Medical Products reports record first quarter sales and earnings.DRAPER, Utah--(BUSINESS WIRE)--Jan. 15, 1997--Ballard Medical Products (NYSE NYSE See: New York Stock Exchange :BMP (1) (BitMaP) Also known as a "bump" file, it is the native, bitmapped graphics format in Windows. A BMP can be saved in several color options: 1-, 4-, 8- and 24-bit color provide 2, 16, 256 and 16,000,000 colors respectively. BMP files use the .BMP or . ) Wednesday reported record sales and earnings for the first quarter of fiscal year 1997 ended Dec. 31, 1996. Sales for the quarter were $28,461,000 compared to $23,670,544 for the first quarter of fiscal year 1996, an increase of 20 percent. The company's net income for the quarter increased 21 percent to $6,925,000 (24 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. ) compared to $5,716,589 (20 cents per share) for the quarter ended Dec. 31, 1995. Dale H. Ballard, president of the company, stated, "We are very pleased with the five acquisitions that we made during the past year. We are confident that after these acquisitions are fully integrated, they will be an important part of our future growth." The above figures reflect the consolidation of Ballard Medical Products and its subsidiaries (including the restatement Restatement A revision in a company's earlier financial statements. Notes: The need for restating financial figures can result from fraud, misrepresentation, or a simple clerical error. of 1996 numbers due to the September 1996 acquisition of Plastic Engineered Products Co. under the pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. rules). CONTACT: Ballard Medical Products, Draper Dale H. Ballard or Kenneth R. Sorenson, 801/572-6800 |
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