Crown Andersen Inc. Announces Results for First Quarter Fiscal 2003.Business Editors PEACHTREE CITY, Ga.--(BUSINESS WIRE)--Feb. 17, 2003 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 Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. based supplier of engineered products and services to clean and restore the environment, today reported its consolidated results for the first quarter of fiscal 2003 (ended December 31, 2002). For the first three months of fiscal 2003, the Company reported a consolidated net loss of $383,875 or $0.21 per share (basic and 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 $4,797,889. By comparison, for the first three months of fiscal 2002 the Company reported a net loss of $320,186 or $0.17 per share (basic and diluted) on revenues of $5,965,864. Foreign sales accounted for 64% and 19% for the first three months of fiscal 2003 and 2002, respectively. The reduced revenue level from 2002 is the result of a continued industrial manufacturing slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. worldwide, but particularly in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). .
THREE MONTHS ENDED
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December 31
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2002 2001
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REVENUES $4,797,889 $5,965,864
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Loss before taxes (507,875) (478,486)
Tax benefit (124,000) (158,300)
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NET LOSS $ (383,875) $ (320,186)
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Average shares outstanding:
Basic 1,857,669 1,855,217
Diluted 1,857,669 1,855,217
LOSS PER SHARE:
Basic $ (0.21) $ (0.17)
Diluted $ (0.21) $ (0.17)
Forward Looking Statements This Press Release contains 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. . 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 environment, general conditions in the environmental industry, the Company's competitive position, and economic conditions in international markets. |
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