Compositech Ltd. Reports Second Quarter and Six Months Results.HAUPPAUGE Hauppauge can refer to:
in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CTEK), announced today its results for the second quarter and six months ended June 30, 1997. Total revenues for the second quarter ended June 30, 1997 were $143,469, compared with $55,067 for the second quarter of 1996. Net loss for the quarter totaled $1,718,540 or $(0.25) per share, compared with $1,070,215, or $(0.24) per share for the second quarter ended June 30, 1996. There were 6,865,221 and 4,404,326 shares used in computing computing - computer no net loss per share for the 1997 and 1996 quarters, respectively. For the six months ended June 30, 1997, total revenues were $295,468, compared with $95,052 for the six months of 1996. Net loss for the six month period was $2,790,934 or $(0.41) per share, compared with $2,206,898 or $(0.52) per share in the 1996 six month period. There were 6,865,221 and 4,226,146 shares used in computing the net loss per share for the 1997 and 1996 six months, respectively. In announcing the results, Jonas Medney, chairman and chief executive officer of Compositech said, "Orders for our laminates continued to increase during the second quarter restrained by our limited production capacity." He added, "Now that our new production equipment has been installed, we believe we will have significant revenues from the sale of laminates during the remainder of 1997." Compositech Ltd. develops, produces and markets innovative and superior copper-clad fiberglass fiberglass, thread made from glass. It is made by forcing molten glass through a kind of sieve, thereby spinning it into threads. Fiberglass is strong, durable, and impervious to many caustics and to extreme temperatures. 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 laminates used to make printed circuit boards, which are essential components of personal computers, workstations, data communication and telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. equipment, automobiles and virtually all electronic equipment. -0- The statements made in this press release contain certain 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. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that involve a number of risks and uncertainties. Actual events or results may differ from the company's expectations. In addition to the matters described in this press release, risk factors listed from time to time in the company's SEC reports and filings, including, but not limited to, its report on Form 10-KSB for the year ended December 31, 1996, may affect the results achieved by the company. -0- This release is available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most website at www.kcsa.com. -0-
Compositech Ltd.
Financial Highlights
Three Months Ended Six Months Ended
June 30, June 30,
1997 1996 1997 1996
Revenues $143,469 $55,067 $295,468 $95,052
Net (loss) ($1,718,540) ($1,070,215) ($2,790,934) ($2,206,898)
Net (loss) per
share ($0.25) ($0.24) ($0.41) ($0.52)
Shares used in
computing net
(loss) per share 6,865,221 4,404,326 6,865,221 4,226,146
-0-
CONTACT: Compositech Ltd. Fred Klimpl 516/436-5200 or KCSA Joseph A. Mansi/Leslie A. Schupak 212/682-6300 ext. 205/207 |
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