Cohesant Technologies Reports Record Sales and Earnings For Third Quarter and First Nine Months of Fiscal 2000.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--Sept. 22, 2000 Cohesant Technologies Inc. (Nasdaq:COHT) today reported record sales and earnings for its fiscal 2000 third quarter and nine months ended August 31, 2000. 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 third quarter of fiscal 2000 increased 7% to $4,123,238 from $3,844,303 for the comparable fiscal 1999 period. Net income for the current quarter was $288,925, an increase of 20% over the $241,067 reported in the previous year. 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 earnings were $.12 per common share in the current period compared to $.10 in the prior period. Dwight D. Goodman, Cohesant's president and chief executive officer stated, "increased demand for specialty grout Grout A binding or structural agent used in construction and engineering applications. Grout is typically a mixture of hydraulic cement and water, with or without fine aggregate; however, chemical grouts are also produced. and 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 products by both new and established Certified Applicators resulted in our record third quarter sales and improved profitability. Sales of our 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 dispensing equipment and part sales were essentially unchanged from the prior year quarter's sales. However, our new polyester dispensing gun, the Indy II with its innovative and patent pending Delta V-Force spray tip technology, was introduced in the last quarter to strong customer interest, which we expect to translate into sales in future quarters." For the first nine months of fiscal 2000, net sales increased to $11,878,793 from $10,816,041 in the 1999 period, an increase of 10%. Glas-Craft 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. had sales increases of $544,711, or 6% and $518,041, or 31%, respectively. Net income of $686,590 was 19% higher than the $577,924 reported last year. On a fully-diluted basis, net income was $.29 per share in the current nine month period compared to $.24 in the prior period. "We are pleased with improved performance and look forward to another record year," Mr. Goodman concluded. 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, Inc., manufactures spray finishing and coating 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. ,
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 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 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.
COHESANT TECHNOLOGIES INC.
Summary Financial Data (Unaudited)
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Three Months Three Months
Ended Ended
August 31, 2000 August 31, 1999
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Net sales $4,123,238 $3,844,303
Income before income taxes 436,718 372,543
Net income $ 288,925 $ 241,067
Basic and diluted net income per
share $ 0.12 $ 0.10
Average number of common
shares outstanding:
Basic 2,343,695 2,336,733
Diluted 2,404,653 2,374,953
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Nine Months Nine Months
Ended Ended
August 31, 2000 August 31, 1999
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Net sales $11,878,793 $10,816,041
Income before income taxes 1,031,595 897,852
Net income $ 686,590 $ 577,924
Basic and diluted net income per
share $ 0.29 $ 0.24
Average number of common
shares outstanding
Basic 2,339,980 2,360,927
Diluted 2,402,428 2,389,002
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 foreign markets for plural component dispensing systems and a reduction in growth of markets for the Company's epoxy coating systems. |
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