Bernstein/Leibstone & Associates Inc. announces Sept. 30, 1996 second quarter results.RIVIERA BEACH Riviera Beach (rəvēr`ə), resort city (1990 pop. 27,639), Palm Beach co., SE Fla., on Lake Worth (a lagoon); inc. 1922. Research and development firms are located in the growing city. , Fla.--(BUSINESS WIRE)--Nov. 20, 1996-- Bernstein/Leibstone & Associates Inc. (BB:BLAI BLAI Brown Leaf Area Index ) Wednesday announced that on Nov. 15, 1996 the company filed their Form 10QSB QSB Fading QSB Qualified Small Business (IRS category) QSB Queen Street Backpackers (Auckland, New Zealand) QSB Quality System Basics QSB Qualified Supplemental Benefit QSB Quantum Singleton Bound with the SEC for the quarter ended Sept. 30, 1996. Highlights from the 10QSB and comparisons: -0-
Sept. 30, 1996 Sept. 30, 1995
SUMMARY BALANCE SHEET DATA
Cash & Cash Equivalents $ 4,343
Total Assets $3,476,088
Current Liabilities $2,017,685
Total Shareholders Equity $ 592,425
Revenues $2,877,503 $1,059,890
Net Operating Income (Loss) $ 8,226 $ (261,330)
Gross revenues increased $1,817,613 in the second quarter compared to the same period in 1995. This substantial jump in revenue was directly attributed to three factors: first, the completion of the roll-out of product through the Home Depot The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products and services. Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia, Home Depot employs more than 355,000 people and operates 2,164 big-box locations in Florida; second, the company experienced a 300% increase in authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: dealers; and third, production capacity doubled compared to the year ago period. Net income from operations turned positive during this quarter. Additionally, the company's six month revenues increased $3,710,234 from the comparable six month period in 1995. Total revenues for the six month period were $5,006,505. ClearShield Manufacturing Corp. also increased production capacity during the second quarter by adding an additional production line in August, which increased product availability during the second fiscal quarter. The company plans to again double this capacity no later than year end March 31, 1997 by bringing on-line an additional three lines already purchased, during the fourth quarter. The company's primary operating group is ClearShield and its subsidiaries which are 57% owned by the company. ClearShield's principal product is a transparent storm shutter (1) An opaque window that is moved in one direction to let light in and in another to close off the light. In fixed-lens cameras, one shutter often suffices for aperture and speed. assembly that is lightweight and of relatively simple construction, and capable of sufficiently resisting direct impacts from windborne debris debris /de·bris/ (de-bre´) fragments of devitalized tissue or foreign matter. In dentistry, soft foreign material loosely attached to a tooth surface. during a storm. The company manufactures the ClearShield system at its 19,000 s.f. facility in Riviera Beach. The company distributes the product from its 27,000 s.f. facility in Riviera Beach. ClearShield distributes primarily through 121 dealers throughout the Southeast United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and through the Home Depot. ClearShield sells through 14 Home Depot stores in Florida. CONTACT: Bernstein/Leibstone & Associates Inc. Darrell L. Peterson, Chief Executive Officer 800/385-1335 |
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