Berger Holdings, Ltd. Reports Break-even First Quarter 2002 Vs. a Loss of Four Cents for First Quarter 2001.Business Editors PHILADELPHIA--(BUSINESS WIRE)--April 25, 2002 Berger Holdings, Ltd. (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 :BGRH). Berger Holdings, Ltd. reported net income of $605 for the quarter ended March 31, 2002 vs. a loss of ($205,773) for the quarter ended March 31, 2001. Revenue for the first quarter ended March 31, 2002 was $9,853,171 vs. $10,224,362 for the comparable prior period. Historically, the first quarter is the weakest of the year. Berger had previously reported earnings of $.28 per share for the full year ended December 31, 2001. Mr. Theodore A. Schwartz, Chairman 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. of the Company, stated, "We are continuing to increase efficiency and decrease cost as evidenced by our EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become (earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
A firm's repurchase of outstanding shares of its common stock. program, we purchased 30,800 shares on the open market."
QUARTER ENDED MARCH 31:
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2002 2001
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Revenue $ 9,853,171 $ 10,224,362
Operating income $ 291,730 $ 65,641
Net income (loss) before taxes $ 1,080 $ (367,452)
Provision for income tax (benefit) $ 475 $ (161,679)
Net income (loss) $ 605 $ (205,773)
Basic shares 5,066,531 5,341,676
Basic income (loss) per common share $ 0.00 $ (0.04)
Diluted number of common shares 6,875,851 5,713,656
Earnings (loss) per diluted common share $ 0.00 $ (0.04)
Berger Holdings, Ltd. is the parent company of Berger Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) Co., which was founded in 1874, and is a manufacturer of the most complete line of roof drainage products specializing in copper as well as residential and commercial snow guards. All of the Company's products are used in new construction, remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling , and renovation markets. Forward-looking statements in this release 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. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risk and uncertainties including but not limited to, continued acceptance of the company's products in the marketplace, competitive factors, new products and technological changes, the Company's dependence upon third-party suppliers and other risks detailed in the company's periodic reports filing with the Securities and Exchange Commission. |
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