Clary Corp. Announces Financial Results.Business Editors MONROVIA Monrovia, city, Liberia Monrovia (mənrō`vēə), city (1986 est. pop. 465,000), capital of the Republic of Liberia, NW Liberia, a port on the Atlantic Ocean at the mouth of the St. Paul River. , Calif.--(BUSINESS WIRE)--Oct. 22, 2001 Clary clary: see sage. Corp. (PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. :CLY TT) announced sales and other revenues of $2,501,000 for the three-month period ended September September: see month. 30, 2001, compared to $1,465,000 for the same period in 2000. Net earnings of $521,000 or $.29 per share are being reported for the quarter in 2001, compared to net earnings of $15,000 or $.01 per share in 2000.
Three Months Ended September 30,
2001 2000
Net sales and other income $ 2,501,000 $ 1,465,000
Earnings before income taxes $ 576,000 $ 15,000
Income tax expense 55,000 --
Net earnings $ 521,000 $ 15,000
Net earnings per common share $ .29 $ .01
Average number of shares 1,807,419 1,807,419
Nine Months Ended September 30,
2001 2000
Net sales and other income $ 6,012,000 $ 4,216,000
Earnings before income taxes $ 1,214,000 $ 68,000
Income tax expense 57,000 1,000
Net earnings $ 1,157,000 $ 67,000
Net earnings per common share $ .64 $ .04
Average number of shares 1,807,419 1,807,419
The substantial increase in sales and earnings in the third quarter of 2001 over the similar quarter in 2000 was the continuing demand for the Company's traffic power products associated with keeping the intersection intersection /in·ter·sec·tion/ (-sek´shun) a site at which one structure crosses another. intersection a site at which one structure crosses another. "alive" during a power failure. The demand for this product is greater during the summer months, a time when you are more likely to see power failures. During the fall and winter months, this market will become somewhat diminished di·min·ish v. di·min·ished, di·min·ish·ing, di·min·ish·es v.tr. 1. a. To make smaller or less or to cause to appear so. b. . Due to the September 11, 2001 tragedy, the Company does expect its military/defense business segment to gradually increase, which should, at least partially, offset the diminished traffic sales. However, operating results for the nine months ended September 30, 2001 are not necessarily indicative of the results to be expected for the entire year ending December December: see month. 31, 2001. |
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