Brad Ragan, Inc. announces third quarter results.CHARLOTTE, N.C.--(BUSINESS WIRE)--Oct. 24, 1996--Brad Ragan Ragan can refer to: People
Compared to 1995, third quarter earnings were lower by $754,000, or $.35 per share, while revenues remained essentially unchanged. The Company attributed the lower earnings to an unexpected adverse court decision in a general liability case, new location start up expense, and lower consumer finance income. For the quarter, same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. increased 5.0% in the Company's Commercial segment and were lower by 2.8% in the Retail segment. For the nine-month period, revenues were $188.0 million, or $1.8 million below the same prior year period. A net loss of $2.3 million, or $1.07 per share was recorded for the period while comparable 1995 earnings were $2.2 million or $1.00 per share. The 1996 results include a $4.8 million pre-tax second quarter charge for costs and expenses associated with the settlement of two class action law suits related to charging certain retail installment credit Noun 1. installment credit - a loan repaid with interest in equal periodic payments installment loan consumer credit - a line of credit extended for personal or household use loan - the temporary provision of money (usually at interest) sales customers for non-filing insurance. "Increased sales of new tires and service in the quarter balanced lower sales of home air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. equipment," said 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. . "One new retail and four recently opened commercial locations should make a positive contribution in the fourth quarter," Thomann added. 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 52 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 share and per share data)
Three Months Ended Nine Months Ended
Sept. 30, Sept. 30,
1996 1995 1996 1995
Revenues $ 66,941 $ 67,003 $188,017 $189,798
Income before taxes (12) 1,477 (3,909) 3,851
Provision for income taxes (59) 676 (1,563) 1,652
Net income 47 801 (2,346) 2,199
Net income per common share $ .02 $ .37 $ (1.07) $ 1.00
Weighted average number of
common shares outstanding 2,190,619 2,190,619 2,190,619 2,190,619
CONTACT: Brad Ragan, Inc., Charlotte R.J. Carr CARR Carrier CARR Customer Acceptance Readiness Review CARR Carrollton Railroad CARR Corrective Action Request and Report CARR City Area Rural Rides (Texas) CARR Configuration Audit Readiness Review CARR Customer Acceptance Requirements Review , 704/521-2100 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion