Bollinger completes six months of current fiscal year with 54.4% operating earnings increase.DALLAS--(BUSINESS WIRE)--Nov. 1, 1994--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) Tuesday announced record sales for its fiscal second quarter and fiscal six months ended Sept. 30, 1994. Bollinger reports strong growth in both sales and earnings for its first six 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 $32.5 million, a 67.1 percent increase over the first six months of the previous fiscal year. This growth in sales produced an increase in earnings form 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 54.4 percent over the first six months of the previous fiscal year. Earnings from continuing operations yielded $1.6 million, or $0.41 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 $1.6 million or $0.41 per share. Comparable results for the previous year were $0.39 and $0.12 per share, respectively. Second quarter net sales were $18.0 million, a 73.4 percent increase over the same period in the previous fiscal year. This resulted in a 54.5 percent increase in earnings from continuing operations over the same quarter in the previous year. The company's earnings from continuing operations for the second quarter ended Sept. 30, 1994 were $865,000, or $0.22 per share compared to $560,000, or $0.21 per share for the second quarter of the previous fiscal year. Earnings per share for the 1995 fiscal second quarter and fiscal six 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 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. noted, "We are again on target with our second quarter performance. The groundwork we began months ago is coming to fruition fru·i·tion n. 1. Realization of something desired or worked for; accomplishment: labor finally coming to fruition. 2. Enjoyment derived from use or possession. 3. in sales and earnings. Our shipping performance and the sell-through at store level is excellent. "The newly acquired NBF NBF National Bank Financial NBF National Business Furniture NBF Norsk Bibliotekforening NBF Norges Blindeforbund NBF National Biosafety Framework NBF National Book Festival NBF Neutral Buffered Formalin NBF New Best Friend trampoline trampoline Resilient sheet or web (often of nylon) supported by springs in a metal frame and used as a springboard and landing area in tumbling. Trampolining is an individual sport of acrobatic movements performed after rebounding into the air from the trampoline. line, introduction of the Bollinger TrainerSupport Medicine line, and the Denise Austin Denise Austin (born February 13, 1957) is an American fitness and exercise expert, author, columnist and instructor. She is also a member of the President's Council on Physical Fitness and Sports.[1] Early life Austin was born Denise Katnich in San Pedro, CA. ToneUp 1-2-3 for retail have all contributed positively to sales." 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 Operations
for fiscal second quarter and
six months ended Sept. 30, 1994
(in thousands, except per share amounts)
(unaudited)
Fiscal Second Quarter Fiscal Six Months
Ended September 30, Ended September 30,
------------------- -------------------
1993 1994 1993 1994
Net sales $10,405 $18,037 $19,464 $32,528
Cost of goods sold 6,893 12,583 12,844 22,689
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Gross Profit 3,512 5,454 6,620 9,839
Selling expenses 1,137 1,680 2,157 3,125
General and
administrative expenses 1,248 2,199 2,348 3,838
------- ------- ------- -------
Operating profit 1,127 1,575 2,115 2,876
Other expenses (238) (256) (434) (388)
Earnings from continuing
operations
Before income taxes 889 1,319 1,681 2,488
Income tax expense 329 454 622 853
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Earnings from
continuing operations 560 865 1,059 1,635
Loss from
discontinued operations 0 0 (152) 0
Loss on disposal of
discontinued operations 0 0 (573) 0
------- ------- ------- -------
Net earnings $ 560 $ 865 $ 334 $ 1,635
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Weighted average
shares outstanding 2,684 3,989 2,684 3,966
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Earnings per share from
continuing operations $ 0.21 $ 0.22 $ 0.39 $ 0.41
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Net earnings per share $ 0.21 $ 0.22 $ 0.12 $ 0.41
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CONTACT: Bollinger Industries Inc., Dallas Curtis D. Logan, chief financial officer, 214/445-0386 |
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