Cohesant Technologies Reports Results For Fiscal 2005 First Quarter.INDIANAPOLIS -- Cohesant Technologies Inc. (Nasdaq:COHT) today reported its results for the first quarter of fiscal 2005. For the quarter ending February 28, 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 to $4,260,799 from $4,235,450. The Company had first quarter net income of $237,635, a decrease of $50,865 from the $288,500 earned in the first quarter of fiscal 2004. On a fully diluted per share basis, net income was $.09 in the current quarter compared to $.11 last year. Sales of Equipment and Parts increased 2%, while sales of Coatings decreased 2% from the comparable prior year period. Although Equipment and Parts sales continued to strengthen in the first quarter, sales of Coatings and ancillary equipment continued to be negatively affected in December (and to a lesser extent in January) by the inclement in·clem·ent adj. 1. Stormy: inclement weather. 2. Showing no clemency; unmerciful. in·clem weather in key geographic areas which delayed many construction projects and by exhausted municipal maintenance budgets at the end of 2004. Morris H. Wheeler, the Company's President and Chief Executive Officer, stated, "Our first quarter earnings were adversely affected by a combination of continued weakness in sales of our high margin Coatings products and by increasing raw materials costs. Coatings sales, however showed signs of a rebound in the month of February and we are hopeful that this strength will continue through the 2nd quarter and beyond." Mr. Wheeler further stated, "The earnings gains seen over the past few years have been primarily the result of operational changes and to a lesser degree sales growth. Maintaining and expanding on those gains will require additional 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 designed the process improvement project to allow us to maintain and accelerate the rate of sales and earnings growth that we have seen over the past few years by increasing the volume and efficiency of our business. As a result of these operational changes and investments, we are prepared to focus on increasing sales growth which should play a greater role in driving future earnings gains." 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: GlasCraft, Inc., and Raven Lining Systems, Inc. GlasCraft 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. . (Table follows)
COHESANT TECHNOLOGIES INC.
Summary Financial Data (Unaudited)
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Three Months Ended Three Months Ended
February 28, 2005 February 29, 2004
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Net sales $4,260,799 $4,235,450
Income before income taxes 383,284 459,755
Net income $237,635 $288,500
Basic and diluted net income per share $0.09 $0.11
Average number of common
shares outstanding:
Basic 2,624,798 2,581,894
Diluted 2,735,263 2,666,572
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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