Cohesant Technologies Reports Record Sales and Earnings for the First Nine Months and Record Earnings for the Third Quarter of Fiscal 2002.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--Sept. 17, 2002 Cohesant Technologies Inc. (Nasdaq:COHT) today reported record sales and earnings for its first nine months of fiscal 2002 and record earnings for its third quarter ended August 31, 2002. For the first nine months of fiscal 2002, 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 were $12,356,962 compared to $12,296,382 in the fiscal 2001 period. Net income of $905,622 was 17.3% higher than the $772,002 reported last year. On a fully diluted basis, net income was $.35 per share in the current period compared to $.32 last year. Net income for the quarter was $395,704, an increase of 14.9% over the $344,456 reported in the previous year. On a fully diluted per share basis, net income was $.15 in the current quarter compared to $.14 last year. The company's net sales for the third quarter of fiscal 2002 decreased 4.8% to $4,289,209 from $4,506,718 for the same period last year. Morris H. Wheeler, the Company's President and Chief Executive Officer, stated, "I am happy to report that our continued focus on the bottom line has resulted in increased profitability in each of the first three quarters of fiscal 2002. Our 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. subsidiaries have done a commendable job of producing a favorable product mix and containing operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. . Sales of Coatings and Grouts increased over 17% for the quarter and 16% for the first nine months of the year. Consolidated sales of Equipment and Parts were down approximately 13% for the quarter and 4% for the year." 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 and, to a limited extent, Raven Lining Systems manufactures spray finishing and coating 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. 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 Three Months
Ended Ended
August 31, 2002 August 31, 2001
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Net sales $4,289,209 $4,506,718
Income before income taxes 613,389 546,754
Net income $ 395,704 $ 344,456
Net income per share
Basic $ 0.16 $ 0.14
Diluted $ 0.15 $ 0.14
Average number of common shares
outstanding:
Basic 2,551,433 2,419,560
Diluted 2,619,575 2,448,202
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Nine Months Ended Nine Months Ended
August 31, 2002 August 31, 2001
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Net sales $12,356,962 $12,296,382
Income before income taxes 1,402,954 1,198,223
Net income $ 905,622 $ 772,002
Net income per share
Basic $ 0.36 $ 0.32
Diluted $ 0.35 $ 0.32
Average number of common
shares outstanding
Basic 2,545,856 2,386,371
Diluted 2,616,163 2,424,827
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 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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