Bollinger completes nine months of current fiscal year with 69.8% operating earnings increase.DALLAS--(BUSINESS WIRE)--Feb. 1, 1995--From its corporate headquarters in Irving, Texas Irving (pronounced 'er-ving') is a city located in the U.S. state of Texas within Dallas County. According to the 2000 U.S. Census, the city population was 191,615; the 2006 estimate was 201,927 according to the North Central Texas Council of Governments, and 196,084 according to , Bollinger Bollinger is a champagne house, a producer of sparkling wines from the Champagne region of France. They produce several labels of champagne under the Bollinger name, including the vintage Vieille Vignes Françaises, Grand Année and R.D. Industries, Inc. (NASDAQ-NMS) today announced record sales for its fiscal third quarter and fiscal nine months ended Dec. 31, 1994. Bollinger reports strong growth in both sales and earnings for its first nine months of fiscal 1995. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight were $57.8 million, a 77.7 percent increase over the first nine months of the previous fiscal year. This growth in sales produced an increase in earnings from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of 69.8 percent over the first nine months of the previous fiscal year. Earnings from continuing operations yielded $3 million, or $0.76 per share, and total earnings, including results from discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. , were also $3 million or $0.76 per share. Comparable results for the previous year were $0.63 and $0.37 per share, respectively. Third quarter net sales were $25.3 million, a 93.3 percent increase over the same period in the previous fiscal year. This resulted in a 92.4 percent increase in earnings from continuing operations over the same quarter in the previous year. The company's earnings from continuing operations for the third quarter ended Dec. 31, 1994 were $1.4 million, or $0.35 per share, compared to $725,000, or $0.23 per share, for the third quarter of the previous fiscal year. Earnings per share for the 1995 fiscal third quarter and fiscal nine months as compared to the same period of the previous fiscal year reflect the issuance of 1.2 million shares from Bollinger's initial public offering in November November: see month. 1993, and 138,000 shares issued in a recent acquisition. Glenn D. Bollinger, 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. observed, "We are extremely happy to be able to show this kind of performance for our shareholders and would like to express our gratitude Gratitude agrimony traditional symbol for gratitude. [Flower Symbolism: Flora Symbolica, 172] Androcles because he had once extracted a thorn from its paw, the lion refrained from attacking Androcles in the arena. [Rom. Lit. to all those who had a part in achieving these exceptional results." Bollinger is a leading domestic supplier of consumer fitness accessories and sports medicine sports medicine, branch of medicine concerned with physical fitness and with the treatment and prevention of injuries and other disorders related to sports. Knee, leg, back, and shoulder injuries; stiffness and pain in joints; tendinitis; "tennis elbow"; and and safety products. Bollinger Fitness products are sold in leading mass marketers and retail outlets retail outlet n → punto de venta retail outlet n → point m de vente retail outlet retail n → nationwide and overseas, and Bollinger Healthcare products are sold through a distributor network to health care providers and facilities. The company is traded 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 System under the symbol "BOLL." -0-
BOLLINGER INDUSTRIES, INC.
Statement of Earnings
for fiscal third quarter and
nine months ended December 31, 1994
(in thousands, except for per share amounts)
(unaudited)
Fiscal Third Quarter Fiscal Nine Months
Ended December 31, Ended December 31,
-------------------- ------------------
1993 1994 1993 1994
---- ---- ---- ----
Net sales $13,083 $25,295 $32,547 $57,824
Cost of goods sold 8,774 17,581 21,619 40,270
------- ------- ------- -------
Gross profit 4,309 7,714 10,928 17,554
Selling expenses 1,534 2,385 3,691 5,510
General and administrative
expenses 1,457 2,710 3,805 6,548
------- ------- ------- -------
Operating profit 1,318 2,619 3,432 5,496
Interest and other expenses (220) (495) (653) (883)
Earnings from continuing
operations
Before income taxes 1,098 2,124 2,779 4,613
Income tax expense 373 729 995 1,583
------- ------- ------- -------
Earnings from continuing
operations 725 1,395 1,784 3,030
Loss from discontinued
operations 0 0 (152) 0
Loss on disposal of
discontinued operations 0 0 (573) 0
------- ------- ------- -------
Net earnings $ 725 $ 1,395 $ 1,059 $ 3,030
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Weighted average shares
outstanding 3,115 4,016 2,831 3,982
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Earnings per share from
continuing operations $ 0.23 $ 0.35 $ 0.63 $ 0.76
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Net earnings per share $ 0.23 $ 0.35 $ 0.37 $ 0.76
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CONTACT: Bollinger Industries, Inc., Dallas Dallas, city (1990 pop. 1,006,877), seat of Dallas co., N Tex., on the Trinity River near the junction of its three forks; inc. 1871. The second largest Texas city, after Houston, and the eighth largest U.S. Curtis D. Logan Logan, city (1990 pop. 32,762), seat of Cache co., N Utah, on the Logan River; inc. 1859. It is the center of an irrigated dairy and farm area, with huge cheese plants, other food-processing facilities, and diverse manufactures. , 214/445-0386 |
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