Cohesant Technologies Reports Fiscal 2001 First Quarter Results.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--March 20, 2001 Cohesant Technologies Inc. (Nasdaq:COHT) today reported results for the quarter ended February 28, 2001. Consolidated 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 for the quarter were $3,352,252 compared to $3,488,733 for the same period last year, a decrease of $136,481, or 4%. Consolidated net income was $160,576, or $0.07 per diluted share, compared to $164,177, or $0.07 per diluted share in the fiscal 2000 first quarter. "Sales by our Raven Lining Systems subsidiary, which manufactures and sells environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] plural component epoxy epoxy Any of a class of thermosetting polymers, polyethers built up from monomers with an ether group that takes the form of a three-membered epoxide ring. The familiar two-part epoxy adhesives consist of a resin with epoxide rings at the ends of its molecules and a curing coating and grouts for infrastructure rehabilitation rehabilitation: see physical therapy. , increased 28% for the period. This increase was offset by a 12% decline in sales at our Glas-Craft subsidiary, which was due to a drop in export sales. We were able to maintain net income at year-ago levels by an increase in gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. and a reduction in operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. ," Dwight D. Goodman, Cohesant's president and chief executive officer, stated. Cohesant Technologies Inc., based in Indianapolis, Indiana “Indianapolis” redirects here. For other uses, see Indianapolis (disambiguation). Indianapolis (IPA: [ˌɪndiəˈnæpəlɪs]) is the capital city of the U.S. , designs, develops, and manufactures specialized spray finishing and coating application equipment and specialty coating products through its two subsidiaries: Glas-Craft, Inc., and Raven Lining Systems, Inc. Glas-Craft manufactures spray finishing and coating equipment for applying plural component materials such as polyesters, polyurethanes, and epoxies This article is about the band named the Epoxies. For the adhesive, see Epoxy. The Epoxies are an American band from Portland, Oregon formed in 2000. Heavily influenced by punk rock and New Wave the band has described themselves as robot garage rock. . Raven Lining Systems, Inc., manufactures and sells AquataPoxy and the Raven line of high-performance coating systems that are resistant to water and corrosive breakdown by most acids and solvents and can be used in drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. systems. [Table follows]
COHESANT TECHNOLOGIES INC.
Summary Financial Data (Unaudited)
----------------------------------------------------------------------
Three Months Ended Three Months Ended
February 28, 2001 February 29, 2000
----------------------------------------------------------------------
Net sales $ 3,352,252 $ 3,488,733
Income before income taxes 234,935 253,288
Net income $ 160,576 $ 164,177
Basic and diluted net income
per share $ 0.07 $ 0.07
Average number of common shares
outstanding:
Basic 2,349,802 2,336,733
Diluted 2,403,836 2,395,304
Certain statements contained in this report that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statement. These risks and uncertainties include, but are not limited to, a slow-down in domestic and foreign markets for plural component dispensing systems and a reduction in growth of markets for the Company's epoxy coating systems. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion