Berger Holdings Ltd. Reports First Quarter Results and Record Sales for the Month of April.PHILADELPHIA--(BUSINESS WIRE)--May 7, 1998--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) reports revenue of $7,014,455 for the first quarter ended March 31, 1998 vs. $4,499,323 for the comparable 1997 quarter. This is an increase of $2,515,132. Net loss for the period was ($153,511) vs. net income of $164,424. -0- Quarter Ending March 31: 1998 1997 ------------------------ ---- ---- Revenue $7,014,455 $4,499,323 Net income (loss) (153,511) 164,424 Basic weighted average number of common shares 5,356,561 4,942,533 Basic income (loss) per common share ($.03) $.03 Fully diluted number of common shares 7,687,978 5,739,959 Net income (loss) per common share ($.03)(a) $.03 (a) The calculation of diluted earnings (loss) per share excludes 2,331,417 common share equivalents, since they are anti-dilutive in the current period. -0- Theodore A. Schwartz, chairman, 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 "Revenue was up 56% in the first quarter. As previously reported, net income was impacted by non-recurring start-up Start-up The earliest stage of a new business venture. costs related to the acquisition of a major competitor on January 2, 1998." Schwartz further commented "We anticipate record revenue and profits for the balance of the year as evidenced by the trend established during the month of April which had written sales of $3.4 million. This was an increase of 113% over the previous year and up 42% over the average daily sales during the first quarter of 1998." Berger Holdings Ltd. is the parent company of Berger Building Products Corp. founded in 1874 and is a manufacturer of roof drainage drainage, in agriculture drainage, in agriculture, the removal of excess water from the soil, either by a system of surface ditches, or by underground conduits if required by soil conditions and land contour. products and a complete line of residential and commercial snow guards used in the new construction, remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling and renovation markets. Matters discussed in this news release contain 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. . The company notes that a variety of factors could cause the company's actual results and experiences to differ materially from the anticipated results or other expectations in the company's forward-looking statements. Additional information on factors that may affect the operation, performance, development and results of the company's business are discussed in filings of the company with the Securities and Exchange Commission. CONTACT: Berger Holdings Ltd. Theodore A. Schwartz, CEO, 215/355-1200 ext. 123 or The Pinnacle pinnacle (pĭn`ĭkəl), minor architectural motif of vertical tapering shape, usually crowning a pier, buttress, or gable. Although sometimes it appears in Renaissance design, as in the Certosa di Pavia, it is almost exclusively a medieval Group Mark Cohen For the fictional character, see . For the Pennsylvania legislative leader, see . For the Irish cricketer, see . For the comedian, see . Mark R. Cohen (born 1943) is a Professor of Near Eastern Studies at Princeton University. , president, 718/428-7651 |
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