Cohesant Technologies Reports Record First Quarter Sales and Net Income for Fiscal 2004 First Quarter.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--March 17, 2004 Cohesant Technologies Inc. (Nasdaq:COHT) today reported its twelfth consecutive quarter of record earnings. Cohesant also reported record first quarter sales. For the quarter ending February 29, 2004, 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 increased 15.4% to $4,235,450 from $3,671,228 for the same period last year. The Company had first quarter net income of $288,500, an increase of 30.4% over the $221,234 earned in the first quarter of fiscal 2003. On a fully diluted per share basis, net income was $.11 in the current quarter compared to $.09 last year. Sales of Coatings and Grouts increased over 47% and sales of Equipment and Parts increased more than 5% from the comparable prior year period Morris H. Wheeler, the Company's President and Chief Executive Officer, stated, "The management teams and employees at Glas-Craft and Raven Lining Systems continued their string of standout performances. I am proud of the improvements each Company has shown over the past 3 years. Together, we have established a framework for continuing excellence and growth." 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 Lining Systems, Inc. Glas-Craft and, to a limited extent, Raven Lining Systems manufactures dispense equipment for applying plural 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 and AquataPoxy line of high-performance coating systems. 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. .
COHESANT TECHNOLOGIES INC.
Summary Financial Data (Unaudited)
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Three Months Ended Three Months Ended
February 29, 2004 February 28, 2003
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Net sales $ 4,235,450 $ 3,671,228
Income before income taxes 459,755 354,689
Net income $ 288,500 $ 221,234
Basic and diluted
net income per share $ 0.11 $ 0.09
Average number of
common shares outstanding:
Basic 2,581,894 2,564,729
Diluted 2,666,572 2,588,477
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 dispense 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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