Crown Andersen Announces Results for Second Quarter of Fiscal 2000.Business Editors ATLANTA--(BUSINESS WIRE)--May 16, 2000 Crown Andersen 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 :CRAN n. 1. A measure for fresh herrings, - as many as will fill a barrel. Cran a measure of fish, about 750 herrings, 1797. Noun 1. ), the Peachtree Peachtree can be several things:
v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: results for the first six months and the second quarter of fiscal 2000 (ended March 31, 2000). For the first six months of fiscal 2000, the Company reported consolidated net income of $212,117 or $0.12 per share (basic) and $0.11 per share (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. ) on revenues of $10,595,827. By comparison, the Company reported net income of $63,644 or $0.04 per share on revenues of $9,143,984 for the first six months of fiscal 1999. For the second quarter ended March 31, 2000, the Company reported consolidated net income of $163,698 or $0.09 per share (basic) and $0.08 per share (diluted) on revenues of $5,193,642. This compares with consolidated net income of $43,178 or $0.02 per share on revenues of $5,013,054 in 1999. Foreign sales (including export sales by Andersen and sales by Montair) accounted for 26.5% of total revenues in the current six month period compared with 28.5% in the same period of 1999. Revenues and earnings from Crown Andersen's Griffin subsidiary in Syracuse, New York
Syracuse (IPA: , were up substantially from 1999 and accounted for most of the improvements for the quarter and the six months. For a comparison of current quarter results with prior periods, see the table below:
SIX MONTHS ENDED THREE MONTHS ENDED
MARCH 31, MARCH 31,
2000 1999 2000 1999
REVENUES $10,595,827 $ 9,143,984 $5,193,642 $5,013,054
----------- ----------- ----------- ----------
Income before taxes 353,417 98,344 278,698 65,378
Income taxes 141,300 34,700 115,000 22,200
----------- ------------ ----------- ----------
NET INCOME $ 212,117 $ 63,644 $ 163,698 $ 43,178
========= ========= ========= =========
EARNINGS PER SHARE
Basic $0.12 $0.04 $0.09 $0.02
Diluted $0.11 $0.04 $0.08 $0.02
Average shares
outstanding:
Basic 1,835,526 1,707,584 1,837,819 1,825,403
Diluted 1,955,447 1,761,233 1,957,740 1,882,011
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. This press release contains certain forward-looking statements. The Company's results may differ materially from those in the forward-looking statements. Forward-looking statements are based on management's current views and assumptions, and involve risks and uncertainties that significantly affect expected results. For example, operating results may be affected by several external factors. Such factors include, but are not limited to, change in the regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. environment, general conditions in the environmental industry, the Company's competitive position, and economic conditions in international markets. |
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