Cohesant Technologies Reports Record Earnings For Fiscal 2003 Second Quarter and First Half.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--June 17, 2003 Cohesant Technologies Inc. (Nasdaq:COHT) today reported record earnings for its fiscal 2003 second quarter and six months ended May 31, 2003. Net income for the quarter was $338,391, an increase of 9.3% over the $309,713 reported in the previous year. On a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. per share basis, net income was $.13 in the current quarter compared to $.12 last year. The Company's 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 second quarter of fiscal 2003 decreased 5.5% to $4,284,650 from $4,531,984 for the same period last year, due to weakness in the market for its equipment. For the first six months of fiscal 2003, net income was $559,625, an increase of 9.7% over the $509,918 reported in the previous year. On a fully diluted per share basis, net income was $.22 in the current period compared to $.20 last year. The Company's net sales for the first half of fiscal 2003 decreased 1.4% to $7,955,878 from $8,067,753 for the same period last year. Morris H. Wheeler, the Company's President and Chief Executive Officer, stated, "I am pleased to report another quarter of increased earnings. Sales of Coatings and Grouts were essentially flat for the quarter, but were up over 4% for the first half of the year. Equipment and parts sales were down approximately 7% for the quarter and 3% for the six months ended May 31, 2003. We are hopeful that improvements in the economy in the second half of the fiscal year will result in increased corporate capital expenditures, including purchases of the Company's equipment." 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 dispense equipment and specialty coating products through its two subsidiaries: Glas-Craft, Inc., and Raven raven, common name for the largest member of the family Corvidae (crow family), ranging throughout the arctic and temperate regions of the Northern Hemisphere. The raven, Corvus corax, is a glossy black scavenging bird about 26 in. Lining Systems, Inc. Glas-Craft and, to a limited extent, Raven Lining Systems manufactures dispense equipment for applying plural PLURAL. A term used in grammar, which signifies more than one. 2. Sometimes, however, it may be so expressed that it means only one, as, if a man were to devise to another all he was worth, if he, the testator, died without children, and he died leaving one component materials such as polyesters, polyurethanes polyurethanes (pŏl'ēy  r`əthānz), group of plastics that may be either thermosetting or thermoplastic. Polyurethane can be made into both flexible and rigid foams. ,
polyureas, 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 the Raven line of high-performance coating systems as well as AquataPoxy and AquataFlex. These coatings are resistant to water and corrosive corrosive /cor·ro·sive/ (kor-o´siv) producing gradual destruction, as of a metal by electrochemical reaction or of the tissues by the action of a strong acid or alkali; an agent that so acts. breakdown by most acids and solvents and are used in many applications, including 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. distribution and sewage collection systems Sewage collection systems Configurations of inlets, catch basins, manholes, pipes, drains, mains, holding basins, pump stations, outfalls, controls, and special devices to move wastewaters from points of collection to discharge. . (Table follows)
COHESANT TECHNOLOGIES INC.
Summary Financial Data (Unaudited)
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Three Months Ended Three Months Ended
May 31, 2003 May 31, 2002
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Net sales $ 4,284,650 $ 4,531,984
Income before income taxes 522,541 477,954
Net income $ 338,391 $ 309,713
Basic and diluted net income
per share $ 0.13 $ 0.12
Average number of common
shares outstanding:
Basic 2,580,778 2,550,224
Diluted 2,595,050 2,618,658
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Six Months Ended Six Months Ended
May 31, 2003 May 31, 2002
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Net sales $ 7,955,878 $ 8,067,753
Income before income taxes 877,230 789,565
Net income $ 559,625 $ 509,918
Basic and diluted net income
per share $ 0.22 $ 0.20
Average number of common
shares outstanding
Basic 2,572,842 2,543,037
Diluted 2,591,871 2,614,560
Certain statements contained in this report that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 international markets for plural component dispensing systems and a reduction in growth of markets for the Company's 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 systems. |
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