Baltek Corp. reports higher sales and earnings for the nine months.NORTHVALE, N.J.--(BUSINESS WIRE)--Nov. 15, 1995--Baltek Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on , NMS See NetWare Management System. :BTEK) today reported sales and earnings for the third quarter and nine months ended Sept. 30, 1995 (tables follow). Commenting on the results, Jacques Kohn, BALTEK president, stated, "We are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. by the sales and earnings growth achieved during the third quarter and nine months ended September 30, 1995. These results reflect continued demand for our entire product line as well as improved profit margins due to lower cost and expenses as a percentage of sales." Kohn continued, "In September we entered into an agreement with Airex AG of Sins, Switzerland Sins is a municipality in the district of Muri in the canton of Aargau in Switzerland. to become the sole North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. source of Airex and AirLite/Herex structural PVC PVC: see polyvinyl chloride. PVC in full polyvinyl chloride Synthetic resin, an organic polymer made by treating vinyl chloride monomers with a peroxide. foam products. The addition of these products should solidify our leadership in the structural core market and give us additional growth opportunities in the future." Baltek Corp. is a leading producer of balsa wood Noun 1. balsa wood - strong lightweight wood of the balsa tree used especially for floats balsa Ochroma lagopus, balsa - forest tree of lowland Central America having a strong very light wood; used for making floats and rafts and in crafts products and farm produced shrimp. -0-
Baltek Corp. and Subsidiaries
Unaudited Statement of Consolidated Income
For the Three Month Period Ended
Sept. 30,
1995 1994
Net sales $ 11,042,217 $ 8,910,225 Special charge (1) -0- 323,977 Net income (loss) 257,596 (123,454) Net income (loss) per common share 0.10 (0.05) Average shares outstanding 2,523,261 2,523,261
For the Nine Month Period Ended
Sept. 30,
1995 1994
Net sales $ 33,682,682 $28,711,342 Special charge (1) -0- 323,977 Net income 1,282,450 578,907 Net income per common share 0.51 0.23 Average shares outstanding 2,523,261 2,523,261 (1) Special charge in the third quarter of 1994 was for personnel changes designed to reduce costs. CONTACT: Baltek Corp. Ben Zeikowitz, 201/767-1400 or Strategic Growth International Inc. Donald C. Weinberger, 516/829-7111 |
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