For Better Living Reports Third Quarter Results.AUBURN Auburn (ô`bərn). 1 City (1990 pop. 33,830), Lee co., E Ala.; inc. 1839. The city's economy centers around Auburn Univ.; there is some manufacturing. 2 City (1990 pop. 24,309), seat of Androscoggin co. , Calif.--(BUSINESS WIRE)--Nov. 11, 1997--Richard G. Fabian Fa·bi·an adj. 1. a. Of or relating to the caution and avoidance of direct confrontation typical of the Roman general Quintus Fabius Maximus. b. Cautious or dilatory, as in taking action. 2. , chairman of the board of For Better Living 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 :FBTR FBTR Fast Breeder Test Reactor ), reported net income for the three months ended Sept. 27, 1997, of $791,000, or 90 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , as compared with net income of $94,000, or 11 cents per share, for the comparable period of the prior year. The company reported a net loss for the nine months ended Sept. 27, 1997, of $357,000, or 41 cents per share, as compared with net income of $473,000, or 54 cents per share, for the comparable period of the prior year. -0-
SUMMARY OF OPERATIONS
Three Months Ended Nine Months Ended
Sept. 27, Sept. 28, Sept. 27, Sept. 28,
1997 1996 1997 1996
NET REVENUES $28,316,000 $24,126,000 $75,959,000 $71,437,000
COST AND EXPENSES:
Cost of sales 18,801,000 15,646,000 50,052,000 46,627,000
Selling, general
and administrative
expenses 9,244,000 7,927,000 26,674,000 22,859,000
Interest expense 589,000 396,000 1,472,000 1,161,000
Total Cost and
Expenses 28,634,000 23,969,000 78,198,000 70,647,000
OTHER INCOME 1,643,000 -- 1,643,000 --
INCOME (LOSS) BEFORE
PROVISION FOR TAXES 1,325,000 157,000 (596,000) 790,000
PROVISION (BENEFIT)
FOR TAXES 534,000 63,000 (239,000) 317,000
NET INCOME (LOSS) $ 791,000 $ 94,000 $ (357,000) $ 473,000
NET INCOME (LOSS)
PER COMMON SHARE: $0.90 $0.11 $(0.41) $0.54
-0-
SUMMARY BALANCE SHEET
Sept. 27, Dec. 28,
1997 1996
ASSETS:
Current assets $38,558,000 $33,111,000
Property - net 16,909,000 11,108,000
Available-for-sale securities -- 164,000
Other assets 3,017,000 2,633,000
TOTAL ASSETS $58,484,000 $47,016,000
LIABILITIES AND STOCKHOLDERS' EQUITY:
Current liabilities $14,393,000 $13,529,000
Long-term debt and capital
lease obligations 26,756,000 15,565,000
Other (primarily deferred
compensation) 786,000 893,000
Stockholders' equity - net 16,549,000 17,029,000
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $58,484,000 $47,016,000
-0-
SUMMARY STATEMENT OF CASH FLOWS
Nine Months Ended
Sept. 27, Sept. 28,
1997 1996
NET CASH USED IN OPERATING ACTIVITIES $(2,148,000) $(3,414,000)
NET CASH (USED IN) PROVIDED BY
INVESTING ACTIVITIES (6,933,000) 1,424,000
NET CASH PROVIDED BY
FINANCING ACTIVITIES 11,305,000 1,764,000
NET INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS $ 2,224,000 $ (226,000)
CONTACT: For Better Living Inc., Auburn Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a G. Fabian, 916/823-9600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion