Bettis Corporation reports second quarter and six month results.WALLER Wal·ler , Edmund 1606-1687. English poet known for his harmonious love lyrics, including "Go, Lovely Rose" (1645). Noun 1. Waller - United States jazz musician (1904-1943) Fats Waller, Thomas Wright Waller , Texas--(BUSINESS WIRE)-- Aug. 6, 1996--Bettis Corporation (Nasdaq/NM-BETT) today announced its 1996 six month revenues were 13 percent higher than for the comparable period ended June June: see month. 30, 1995. For the first six months of 1996, the company reported revenues of $29,814,000, compared to $26,394,000 for the first six months of 1995. The company further reported net earnings for the six months ended June 30, 1996 were $1,081,000 or $.13 per share, 11 percent higher than the $973,000, or $.11 per share earned for the same period in 1995. For the 1996 second quarter, the company reported revenues of $14,993,000, a 12 percent gain over the $13,432,000 reported for the 1995 second quarter. Net earnings for the 1996 second quarter were $489,000, or $.06 per share, compared to $562,000, or $.07 per share reported for the 1995 second quarter. During the second quarter of 1996, Bettis acquired Prime Actuator A mechanism that causes a device to be turned on or off, adjusted or moved. The motor and mechanism that moves the head assembly on a disk drive or an arm of a robot is called an actuator. See access arm. Control Systems of Glenrothes Glenrothes (glĕnrŏth`əs), town (1991 pop. 33,639), Fife, E Scotland, on the Leven River. Glenrothes was designated one of the new towns in 1948 to provide housing, community services, and increased social and economic diversity for an , Scotland and Dantorque A/S of Esbjerg, Denmark. On July 10, 1996 the company subsequently completed its $13.2 million acquisition of Shafer Valve valve, device for controlling the flow of fluids (liquids and gases). Valves vary in construction and size depending upon their function. Some are classified according to their method of operation or design, e.g. Company of Mansfield, Ohio Mansfield is a city in the U.S. state of Ohio and the county seat of Richland CountyGR6. The municipality is located in north-central Ohio in the western foothills of the Alleghenies, approximately 80 miles (129 km) southwest of Cleveland and 66 miles . Bettis Corporation President, W. Todd Todd , Sir Alexander Robertus 1907-1997. British chemist. He won a 1957 Nobel Prize for his study of nucleic acids and nucleotide structures. Bratton, commented, "Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the second quarter of 1996 was up more than 27 percent over the comparable period in 1995 due to our increased revenues. Our North American operations North American operation Surgical oncology Radical surgery of a 'frozen pelvis', consisting of radical en bloc resection of the uterus and urinary bladder. See 'Frozen pelvis.'. Cf 'All-American' and 'South American' operations. showed excellent growth in new orders and profitability this quarter. With the addition of our recent acquisitions, we are focusing on producing similar results worldwide." Bettis Corporation manufactures valve actuators and control systems used worldwide for the automation of valves in numerous energy and industrial markets. The headquarters of Bettis are in Waller, Texas Waller is a city in Texas, partly in Waller County and partly in Harris County. The population was 2,092 at the 2000 census. Geography Waller is located at (30.058752, -95.926336)GR1. . Bettis now operates manufacturing facilities in Cincinnati and Mansfield, Ohio; Fareham, England; Edmonton, Canada; Villemomble, France; Glenrothes, Scotland and Esbjerg, Denmark. Bettis Corporation common stock is listed on the 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 National Market under the symbol BETT BETT British Education and Training Technology (UK exhibition) BETT Best Estimate Trajectory Tape . -0-
Bettis Corporation
Financial Information
Six Months ended June 30
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1996 1995
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(in thousands, except share and per share amounts)
Net revenues $29,814 $26,394
Operating expenses 27,051 24,311
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Operating income 2,763 2,083
Other income (expense), net (690) (440)
Income tax provision (992) (670)
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Net earnings applicable to common stock $ 1,081 $ 973
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Common shares outstanding 8,611,299 8,499,019
Earnings per share $ 0.13 $ 0.11
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Three Months ended June 30
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1996 1995
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(in thousands, except share and per share amounts)
Net revenues $14,993 $13,432
Operating expenses 13,572 12,314
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Operating income 1,421 1,118
Other income (expense), net (404) (186)
Income tax provision (528) (370)
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Net earnings applicable to common stock $ 489 $ 562
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Common shares outstanding 8,613,145 8,502,137
Earnings per share $ 0.06 $ 0.07
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CONTACT: Wilfred M. Krenek, Bettis Corporation, 713/463-5100 |
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