Benthos announces record first quarter sales and earnings.NORTH FALMOUTH, Mass.--(BUSINESS WIRE)--Jan. 27, 1997--Benthos, Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :BTHS BTHS Brooklyn Technical High School BTHS Barth Syndrome BTHS Bartram Trail High School (Jacksonville, Florida) BTHS Brick Township High School (New Jersey) ) announced today that net income for the first quarter ended December 29, 1996 was a record $554,000, or $0.60 per share, an 88% increase in per share earnings compared with the prior year's first quarter earnings of $277,000, or $0.32 per share. Sales for the first quarter, also a record, were $4,844,000, a 102% increase over sales of $2,396,000 in the first quarter of last year. Order backlog at the end of the quarter was $7.6 million. First quarter results were impacted positively by increased sales volume in the Company's two operating divisions. Also during the quarter, several major project orders were shipped, which largely consisted of geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. hydrophones and TapTone container inspection systems. John L. Coughlin, president and 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. , stated, "While the second quarter of 1997 probably won't equal the first, order volume and backlog are quite strong and we anticipate a very good year." -0-
BENTHOS, INC.
COMPARATIVE CONDENSED INCOME STATEMENT
(unaudited)
First Quarter (13 weeks) Ended
12/29/96 12/31/95
Net Sales $ 4,844,000 $ 2,396,000
Net Income $ 544,000 $ 277,000
Net Income Per Share $ 0.60 $ 0.32
Average Common and Common
Equivalent Shares Outstanding 922,000 861,000
-0- Benthos benthos: see marine biology. designs, manufactures, sells, and services oceanographic and robotic ro·bot·ic adj. Relating to, characteristic of, or employing robots. equipment for underwater Underwater 1. The condition a call option is in when its strike price is higher than the market price of the underlying stock. 2. The condition a put option is in when its strike price is lower than the market price of the underlying stock. exploration and research; and TapTone inspection systems for testing the seal integrity of consumer containers made of glass, metal, or plastic. The common stock of the Company is listed on the OTC Bulletin Board under the symbol BTHS. Please visit the Benthos home page on the World Wide Web: http://www.benthos.com CONTACT: Benthos, Inc. Frank Dunne or Peter Zentz, 508/563-1000 |
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