FPA announces net income of $1,928,000 for fiscal 1996.BENSALEM, Pa.--(BUSINESS WIRE)--Sept. 30, 1996--FPA Corp. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :FPO (For Position Only) A low-resolution image used to mark the placement of the final image. During the draft stages of a publication, FPOs are often used instead of the high-resolution images, which take up a significant amount of storage. ), a residential builder with operations in Southeastern Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York and Southern New Jersey, Monday Monday: see week. reported net income of $1,928,000 ($.16 primary and fully-diluted earnings per share) on revenues of $94,359,000 for the fiscal year ended June June: see month. 30, 1996. For the year ended June 30, 1995, the company reported net income of $1,201,000 ($.10 primary and fully-diluted earnings per share) on revenues of $107,840,000. Net income increased in fiscal 1996 primarily as a result of a 1% increase in gross profits from residential properties sold, a deferred tax adjustment of $527,000 and extraordinary gains from the early extinguishment The destruction or cancellation of a right, a power, a contract, or an estate. Extinguishment is sometimes confused with merger, though there is a clear distinction between them. of debt totaling $693,000. Revenues decreased in fiscal 1996 by $13,481,000 due primarily to the severe winter weather conditions experienced during the third quarter of fiscal 1996. These conditions hampered construction activity and delayed deliveries delayed delivery Delivery of a certificate after the day on which delivery would occur with a regular-way contract. Delayed delivery is sometimes specified by the seller when the order to sell is entered. See also seller's option contract. at all of the company's communities. -0-
FPA Corp.
Results of Operations
(in thousands - except per share amounts)
Fiscal year ended
June 30,
1996 1995
---- ----
Earned revenues $ 94,359 $107,840
======== =======
Income from operations
before extraordinary items $ 1,235 $ 1,201
Extraordinary gains on early
extinguishment of debt 693 --
-------- --------
Net income $ 1,928 $ 1,201
======== ========
Primary earnings per
common share:
Income from operations
before extraordinary items $ .10 $ .10
Extraordinary gains on early
extinguishment of debt .06 --
-------- --------
Total $ .16 $ .10
======== ========
Fully-diluted earnings per
common share:
Income from operations
before extraordinary items $ .10 $ .10
Extraordinary gains on early
extinguishment of debt .06 --
-------- --------
Total $ .16 $ .10
======== ========
CONTACT: FPA 1. (hardware) FPA - floating-point accelerator. 2. (programming) FPA - Function Point Analysis. Corp., Bensalem Benjamin D. Goldman or Joseph A. Santangelo, 215/947-8900 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion