Cohesant Technologies Reports Record Sales For Fiscal 2005 Second Quarter and First Half.INDIANAPOLIS -- Cohesant Technologies Inc. (Nasdaq:COHT) today reported record sales for its fiscal 2005 second quarter and six months ended May 31, 2005. For the quarter ended May 31, 2005, 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 7.8% to $5,702,957 from $5,290,141 for the same quarter last year. Sales of Coatings were up almost 4% and sales of Equipment and Parts increased more than 9% from the same quarter last year. Net income for the quarter was $406,986, a decrease of 23.1% from the $529,153 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 $.15 in the current quarter compared to $.20 last year. This earnings decline is primarily the result of a short-term erosion in Equipment margins. For the first six months of fiscal 2005, net sales increased 4.6% to $9,963,756 from $9,525,591 for the same period last year. Sales of Coatings were up 1% and sales of Equipment and Parts increased over 6% from same period last year. Net income for the first half was $644,621, a decrease of 21.2% from the $817,653 reported in the previous year. On a fully diluted per share basis, net income was $.24 in the current period compared to $.31 last year. Morris H. Wheeler, the Company's President and Chief Executive Officer, stated, "Second quarter sales surpassed even last year's record second quarter and marked a rebound from the experience of the past two quarters. One particular bright spot is the success of our recently introduced Probler P2 gun, which has helped to propel our Probler Series gun sales 70% beyond last year's levels. Our earnings decline is primarily due to the effects of lower equipment margins, principally caused by special introductory pricing and start-up costs relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the introduction of the P2 gun, and continued high raw materials costs for our Coatings lines. In addition, as mentioned last quarter, as part of our process improvement project we are increasing our investment in systems and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. . We expect margins to begin to improve later in the year as P2 gun manufacturing volumes increase and introductory pricing expires. " 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 dispense /dis·pense/ (-pens´) to prepare medicines for and distribute them to their users. dis·pense v. To prepare and give out medicines. equipment and specialty coating products through its two subsidiaries: GlasCraft, 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. GlasCraft 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 and AquataPoxy line of high-performance coating systems. These systems provide corrosion protection and structural renewal when coating and rehabilitating all types of infrastructure in water, wastewater and industrial markets. (Table follows)
COHESANT TECHNOLOGIES INC.
Summary Financial Data (Unaudited)
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Three Months Ended Three Months Ended
May 31, 2005 May 31, 2004
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Net sales $ 5,702,957 $ 5,290,141
Income before income taxes 656,428 841,671
Net income $ 406,986 $ 529,153
Basic and diluted net income per
share $ 0.15 $ 0.20
Average number of common
shares outstanding:
Basic 2,642,835 2,587,632
Diluted 2,730,462 2,674,499
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Six Months Ended Six Months Ended
May 31, 2005 May 31, 2004
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Net sales $ 9,963,756 $ 9,525,591
Income before income taxes 1,039,712 1,301,426
Net income $ 644,621 $ 817,653
Net income per share
Basic $ 0.24 $ 0.32
Diluted $ 0.24 $ 0.31
Average number of common
shares outstanding
Basic 2,633,916 2,584,779
Diluted 2,733,706 2,671,495
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 dispensing provision of drugs or medicines as set out properly on a lawful prescription. A prescription can only be filled, the drugs supplied, by a registered pharmacist, veterinarian, dentist or member of the medical profession. systems, 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 and customer resistance to Company price increases. |
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