Barringer Technologies Announces Record Fourth Quarter and Year-End Results.MURRAY HILL Murray Hill may refer to one of the following places:
BARR Bureau of Aeronautics Resident Representative , BARRW), a leading developer, manufacturer, and marketer of drugs and explosives detection equipment, today announced its results for the fourth quarter and year ended December 31, 1997. For the quarter, revenues increased by 106% to $7.3 million, compared with $3.6 million in the fourth quarter of 1996. Net income increased by 104% to $1.9 million, compared with $951,000 in the year-ago quarter. 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. earnings per common share rose to $0.31 from $0.18 in the comparable 1996 period, on a 16.1% increase in shares outstanding due to the Company's November 1996 public offering. For the year, revenues increased by 108% to $22.7 million, compared with $10.9 million in 1996. Net income increased by 179% to $5.8 million, compared with $2.1 million in 1996. Diluted earnings per common share rose to $0.92 from $0.46 in 1996, on a 40.9% increase in shares outstanding. Headquartered in Murray Hill, New Jersey
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BARRINGER TECHNOLOGIES INC.
Consolidated Statement of Income
(In thousands, except per share data)
Three Months Ended Year Ended
December 31, December 31,
1997 1996 1997 1996
(Unaudited)
Revenues from operations $ 7,346 $ 3,571 $22,689 $10,923
Net income(a) 1,937 951 5,754 2,059
Preferred stock dividend
requirements 4 4 12 39
Basic earnings per share $ 0.35 $ 0.22 $ 1.05 $ 0.55
Diluted earnings per share $ 0.31 $ 0.18 $ 0.92 $ 0.46
Weighted average common
shares 5,494 4,299 5,456 3,695
Weighted average common
shares and share
equivalents outstanding 6,242 5,376 6,257 4,440
(a) Results for the three months ended December 31, 1997 and 1996 include net tax benefits of $115 and $266, respectively, and results for the year- ended December 31, 1997 and 1996 include net tax benefits of $371 and $391, respectively. CONTACT: Barringer Technologies Inc. Stanley Binder binder: see combine. An earlier Microsoft Office workbook file that let users combine related documents from different Office applications. The documents could be viewed, saved, opened, e-mailed and printed as a group. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Richard S Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a . Rosenfeld, CFO See Chief Financial Officer. 908/665-8200 or Morgen-Walke Associates, Inc. Cheryl Schneider/Tessa Lavender lavender, common name for any plant of the genus Lavandula, herbs or shrubby plants of the family Labiatae (mint family), most of which are native to the Mediterranean region but naturalized elsewhere. The true lavender (L. Press: Michael McMullan 212/850-5600 |
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