Brad Ragan, Inc. Announces First Quarter Results.CHARLOTTE, N.C.--(BUSINESS WIRE)--May 11, 1998--Brad Ragan, Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :BRD (Blue-Ray Disc) See Blu-ray. ) today announced a net loss of $510,000 or $0.23 per share for the quarter ended March 31, 1998 compared to a $537,000 or $0.25 per share first quarter loss in 1997. Revenues for the quarter were $57.6 million or .3% higher than the prior year period. Same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of increased 4.6% in the Company's Commercial Segment while the Retail Segment same store sales decreased 5.2%. Michael R. Thomann, President 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 that business for the quarter was characterized by increased sales of new tires in both the retail and commercial segments and increased auto and tire related services, while the cool, wet spring weather in the southeast severely impacted home products sales. "Historically, the first quarter is not a strong earnings period for the Company," said Thomann, "however, we are encouraged by the growth of new tire sales and expect to recover the weather sensitive lawn and garden business in the second quarter." Brad Ragan, Inc. is the largest 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. producer of retreaded tires for off-highway vehicles. BRI See ISDN. BRI - Basic Rate Interface distributes new and retreaded off-the-road and truck tires through a network of 51 commercial outlets in 19 states. The Company also operates a chain of 121 retail stores in the Southeast, featuring products and services for the auto and home. -0-
BRAD RAGAN, INC.
Comparative Results
(000's omitted - except per share data)
Three Months Ended March 31,
1998 1997
Revenues $ 57,645 $ 57,485
Income (loss) before taxes (910) (884)
Provision (benefit) for income taxes (400) (347)
Net income (loss) (510) (537)
Basic net income (loss) per common share (.23) (.25)
Weighted average number of
common shares outstanding 2,190,619 2,190,619
CONTACT: Brad Ragan, Inc. R. J. Carr, VP Finance, CFO See Chief Financial Officer. , 704/521-2100 |
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