Crown Andersen Reports `Very Positive' Results for Fiscal Year 2001.Business Editors PEACHTREE Peachtree can be several things:
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 City, Georgia-based supplier of engineered products and systems for environmental protection, waste management and product recovery, today announced record revenues and very positive earnings for its 2001 fiscal year ended September September: see month. 30, 2001. Revenues of $28.91 million were 41% greater than in fiscal year 2000 and exceeded previous record annual revenues in fiscal year 1992 by 15%. Net income of $905,198 or $0.49 per share was $1.17 million ($0.63 per share) greater than the fiscal 2000 loss of $262,735. Fourth quarter fiscal 2001 net income was the highest ever reported by the Company. All subsidiary companies were profitable for the year and firm order backlogs for shipment in fiscal 2002 were about $13 million at September 30, 2001. The Company also reported that it was in final negotiations with three customers for large orders that are expected in January January: see month. 2002. A comparison of fiscal 2001 results with fiscal 2000 is provided below.
Twelve Months Ended Three Months Ended
September 30 September 30
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2001 2000 2001 2000
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REVENUES $28,914,205 $20,473,404 $8,275,526 $4,162,134
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Income (loss) before
taxes 1,526,898 (308,035) 701,139 (424,209)
Income taxes (benefit) 621,700 ( 45,300) 308,400 ( 98,168)
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NET INCOME (LOSS) $ 905,198 $ (262,735) $ 392,739 $ (326,041)
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Average shares outstanding:
Basic 1,845,248 1,837,070 1,855,217 1,838,614
Diluted 2,062,314 1,837,070 2,067,862 1,838,614
EARNINGS (LOSS) PER SHARE:
Basic $ 0.49 $ (0.14) $ 0.21 $ (0.18)
Diluted $ 0.44 $ (0.14) $ 0.19 $ (0.18)
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 effect expected results. For example, operating results may be affected by several external factors. Such factors include, but are not limited to, changes in the regulatory environment, general conditions in the environmental industry, the Company's competitive position, and economic conditions in international markets. FOR FURTHER INFORMATION CONTACT: RANDALL Randall may refer to the following: In places:
Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. , CHIEF FINANCIAL OFFICER OR JAN BISCHOFF, SHAREHOLDER RELATIONS CROWN ANDERSEN INC., 306 DIVIDEND DRIVE, PEACHTREE CITY, GEORGIA Peachtree City (zip code 30269) is a city in Fayette County, Georgia, United States. One of the newest planned cities in Georgia, Peachtree City was chartered on March 9, 1959. Founded in 1979 as Peachtree City Development Corp. 30269 |
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