Consulier Engineering Inc. reports improved third quarter earnings.TEQUESTA
The Tequesta (also Tekesta, Tegesta, Chequesta, Vizcaynos , Fla.--(BUSINESS WIRE)--Nov. 8, 1995--Consulier Engineering Inc. (NASDAQ NASDAQ 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 :CSLR CSLR Center for Spoken Language Research (University of Colorado at Boulder) CSLR Center for the Study of Law and Religion (Emory University School of Law; Atlanta, Georgia) ) of Tequesta, reported net income for the three month period ended Sept. 30, 1995 of $218,130, or $0.08 per common share, compared to net income of $142,084, or $0.06 per share, for the comparable three month period in 1994. Net income for the nine month period ended Sept. 30, 1995 was $697,578, or $0.26 per common share, as compared with net income of $650,920, or $0.25 per common share, for the prior year nine month period. Southeast Southeast or south east is the ordinal direction halfway between south and east. It the opposite of northwest. Southeast or South East can refer to: The total cost of buying raw materials, and paying for all the factors that go into producing finished goods. cost of goods sold decreased to 66.7% of 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 in the quarter from 67.9% in the third quarter of 1994. Pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern earnings were $65,319 for the quarter compared to $16,365 for the prior year quarter. Nine month pretax earnings of $296,419 exceeded the subsidiary's entire 1994 earnings of $198,327. Nine month pretax earnings in 1994 were $131,115. Management expects continued improvement. Consulier Engineering's positive cash flow funded the retirement of $400,000 of long term debt during the quarter. The company expects to retire additional long term debt through the balance of the year. Consulier is actively developing its potential products and patented technologies. An expenditure of $500,000 has been budgeted for the development and marketing of products and technology over the 12 month period ending May 15, 1996. Several products are in the final stages of development and marketing strategies are being formulated for·mu·late tr.v. for·mu·lat·ed, for·mu·lat·ing, for·mu·lates 1. a. To state as or reduce to a formula. b. To express in systematic terms or concepts. c. for implementation later this year. During the third quarter Consulier's engineering consulting activities continued to grow with entry into the medical equipment area. The company anticipates significant additional growth in this potentially lucrative consulting area. Financial information is summarized as follows: -0-
CONSULIER ENGINEERING INC.
Three Months Ended Nine Months Ended
Sept. 30, Sept. 30,
1995 1994 1995 1994
---- ---- ---- ----
Net Income $ 218,130 $ 142,084 $ 697,578 $ 650,920
Tax effected
debt reduction (1) N/A N/A N/A 60,800
Adjusted Net income $ 218,130 $ 142,084 $ 697,578 $ 711,720 Shares used in computation: Weighted average number of common shares outstanding 2,520,211 2,519,586 2,521,627 2,532,720 Common stock equivalents from assumed issuance using the treasury stock method - Stock options and warrants 155,698 N/A (2) 152,057 283,479 Primary shares O/S 2,675,909 2,519,586 2,673,684 2,816,199 Earnings per share: $ .08 $ .06 $ .26 $ .25
NOTES: (1) At Sept. 30, 1994 under the modified treasury stock
method proceeds from the issuance of options and warrants
exceeded the cost of repurchasing 20% of outstanding shares
at average market price for the period. Accordingly, a debt
reduction and the investment of funds in Treasury securities
was assumed. Income was therefore adjusted net of the
related tax effect.
(2) For the three month period ended Sept. 30, 1994,
the modified treasury stock method was anti-dilutive.
Therefore, weighted average common shares were used in
computing earnings per share.
Consulier Engineering Inc.'s common stock trades on the over-the-counter market over-the-counter market Trading in stocks and bonds that does not take place on stock exchanges. Such trading occurs most often in the U.S., where requirements for listing stocks on the exchanges are strict. under the NASDAQ symbol CSLR. CONTACT: Consulier Engineering Inc., Tequesta Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs G. Weber Weber, river, United States Weber (wē`bər), river, c.125 mi (200 km) long, rising in the Uinta Mts., N central Utah, and flowing north and northwest to join the Ogden River at Ogden. The combined stream flows to the Great Salt Lake. , 407/745-9149 |
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