Cohesant Technologies Reports Record Sales For the Fourth Quarter and Fiscal Year Ended November 30, 2006.INDIANAPOLIS -- Cohesant Technologies Inc. (Nasdaq:COHT) today reported record sales for the fourth quarter and fiscal year ended November 30, 2006. For the fiscal year ended November 30, 2006, 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 increased 19.6% to $26,543,175 from $22,197,702 realized in the 2005 period. Equipment and Parts sales increased 9.1%, while Coatings' sales decreased 4.9%. The Company had consolidated net income of $1,577,157, a decrease of 3.1% from the $1,628,179 earned in the prior year period. 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 $.48 for fiscal 2006 compared to $.57 last year. For the quarter ending November 30, 2006, consolidated net sales increased 4.6% to $6,914,425 from $6,612,956 realized in the fourth quarter of fiscal 2005. Equipment and Parts sales were up 14.4% when compared to the prior year fourth quarter, while sales of Coatings decreased 13.3% from the prior period, due primarily to weakness in business of the 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 division of CIPAR. The Company had fourth quarter consolidated net income of $316,258, a decrease of 40.6% below the $532,314 earned in the comparable period. On a fully diluted per share basis, net income was $.10 in the 2006 period compared to $.17 in the 2005 quarter. Morris H. Wheeler, the Company's President and Chief Executive Officer, stated, "GlasCraft had an excellent year in 2006. Sales were up 8.2% and pre-tax income was up 9.2%. The addition, early this year, of Michael Ruby as VP of Sales and Marketing and the investments by GlasCraft in product development are beginning to pay dividends." The Rehabilitation rehabilitation: see physical therapy. Services division also had a strong year. The Company generated $4,255,588 of Rehabilitation revenue and $276,139 of Licensee revenue in the fiscal 2006 period compared to $1,114,865 in Rehabilitation revenue and $83,646 in Licensee revenue in the 2005 period. The Company generated $865,457 of Rehabilitation revenue and $142,667 of Licensee revenue in the fourth quarter of fiscal 2006 compared to $954,235 Rehabilitation revenue and $43,805 of Licensee revenue in the 2005 quarter. Rehabilitation revenue is comprised of revenues from the renewal and replacement of plumbing lines and is conducted by the Company's Rehabilitation Services division, the operations of which were acquired in the CuraFlo acquisition in August 2005. Licensee revenue is comprised of license fees, equipment rental as well as other value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. services. Mr. Wheeler added, "Together GlasCraft and the Rehabilitation Services division helped propel Cohesant above $25MM in sales for the first time in its history. Unfortunately the strength of these two components of our business were offset by continued weakness in our Raven division and by costs related to the reconfiguration of the CuraFlo Dealership program. Raven recently hired a new VP of Sales and Marketing and we are hopeful that, together with Raven's newly appointed President Joanne Hughes, the Raven team can reverse this recent downtrend downtrend A series of price declines in a security or the general market. Many analysts feel that investors should avoid securities in a downtrend until the pattern is broken. Compare uptrend. in sales. In addition, during 2006 and accelerating in the 4th Quarter, we incurred significant expenses to rethink the structure of the CuraFlo Dealership network and to integrate the Triton Spincast System into that offering. These efforts are nearly complete and we are hopeful that this investment will begin to pay off in the latter part of 2007. " 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. is engaged in the protection and renewal of 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 systems and wastewater collection systems for municipal, industrial, commercial and residential infrastructure, the design, development, manufacture and sale of 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 systems, replacement parts and supplies used in the operation of the equipment and the design, development, manufacture and sale of specialty coatings. The Company markets its products under numerous trade names including; AquataPoxy, CuraFlo, CuraPoxy, GlasCraft, Guardian, Probler and Raven. [TABLE OMITTED] 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 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 components dispensing 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, customer resistance to Company price increases, the successful integration of the CuraFlo and Triton acquisitions and the Company's ability to expand its licensing and rehabilitation business. |
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