Berger Holdings, Ltd. Reports Record First Quarter Results.Business Editors PHILADELPHIA--(BUSINESS WIRE)--April 27, 2000 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") reported its best first quarter operating results since becoming a public company. Revenue for the quarter ended March 31, 2000 was $8,874,487 vs. $8,207,982 for the quarter ended March 31, 1999, an increase of 8.12%. Net after tax income was $49,805 vs. a loss of ($46,497) for the comparable prior period. Cash generated from operations during the quarter (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 ) was $984,362 or $.18 per basic share outstanding. Mr. Joseph F. Weiderman, President of the Company, stated, "We are very pleased that despite normal seasonal factors in our core market, we have completed our best first quarter performance. This is a result of a more diversified national exposure and an improved product mix. We expect this improvement to both grow and continue throughout the year. These results do not include the acquisition of Copper Craft of Keller, Texas Keller is a city located in Tarrant County, Texas (USA). It is a northern suburb of the city of Fort Worth and is part of the Dallas-Fort Worth Metroplex. The population is 37,685 at the year of 2007, but 2010 estimates have been released and been reported as the population will , which was completed on March 31, 2000 and will further accelerate our growth in the Southwest." 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 hopeful that the recent shift of market sentiment Market Sentiment The feeling or tone of a market (i.e. crowd psychology). It is shown by the activity and price movement of the securities. Notes: For example, rising prices would indicate a bullish market sentiment. toward old economy "valued" investments will benefit our stock price. However, we still intend to continue actively implementing our stock buy-back program which we feel is an effective use of our growing cash flow."
QUARTER ENDED MARCH 31,
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2000 1999
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Revenue $ 8,874,487 $ 8,207,982
Operating income $ 497,564 $ 397,849
Net income before taxes $ 95,765 $ (72,497)
Provision for income tax
(benefit)(a) $ 45,960 $ (26,000)
Net income $ 49,805 $ (46,497)
Basic shares 5,456,138 5,507,705
Basic income per common
share $ .01 $ (.01)
Diluted number of common
shares 7,187,942 7,597,042
Earnings per diluted
common share $ .01 $ (.01)
EBITDA $ 984,362 $ 873,456
EBITDA per basic share $ .18 $ .16
EBITDA per diluted share $ .14 $ .12
(a) No actual federal tax payment will be made because the company has
an approximate $5.5 million Federal tax loss carry forward.
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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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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