Printer Friendly

HEALTH-CHEM REPORTS FIRST QUARTER RESULTS

 HEALTH-CHEM REPORTS FIRST QUARTER RESULTS
 NEW YORK, May 11 /PRNewswire/ -- Health-Chem Corporation (AMEX: HCH)


announced today operating results for the first quarter ended March 31, 1992.
 For the three months ended March 31, 1992, revenues were $9,832,000 compared to $7,695,000 in the comparable quarter last year. Loss from continuing operations in the 1992 period was $510,000 versus a loss from continuing operations of $1,372,000 for the corresponding earlier year quarter. Net loss in the 1992 period was $479,000 or $.07 per share compared to a net loss of $1,406,000 or $.20 per share, for the same period last year, on a fully diluted basis.
 The company noted that the increase in sales was primarily the result of an increase in shipments of its transdermal nitroglycerin patches as well as an increase in sales of its environmental product line. Operating income was affected in the first quarter of 1992 by the company's recording of a provision in the amount of $759,000 for possible losses which may ultimately be realized in connection with the default by the maker of two notes held by the company, which notes were made in connection with a discontinued operation sold in 1988.
 Health-Chem Corporation manufactures and distributes patented controlled release dispensers for the pharmaceutical industry, along with industrial and health-care synthetic fabrics.
 HEALTH-CHEM CORPORATION
 Results of Operations
 (Unaudited -- in thousands except per share amounts)
 Three months ended March 31, 1992 1991
 Revenue:
 Net sales $9,832 $7,695
 Cost of goods sold 6,659 6,092
 Gross profit 3,173 1,603
 Other expenses 3,914 3,609
 Loss from continuing
 operations before taxes (741) (2,006)
 Income tax benefit (231) (634)
 Loss from continuing operations (510) (1,372)
 Loss from discontinued operations -- (34)
 Loss before extraordinary gain (510) (1,406)
 Extraordinary gain from
 repurchase of convertible
 subordinated debentures 31 --
 Net loss (479) (1,406)
 Earnings per common share
 (primary & fully diluted) (.07) (.19)
 Loss from continuing operations -- --
 Loss from discontinued operations -- --
 Extraordinary gain from
 repurchase of debentures -- --
 Net loss per share (.07) (.20)
 -0- 5/11/92
 /CONTACT: Bruce M. Schloss, general counsel of Health-Chem, 212-398-0700/
 (HCH) CO: Health-Chem Corporation ST: New York IN: MTC SU: ERN


SM-JT -- NY095 -- 8786 05/11/92 16:32 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 11, 1992
Words:382
Previous Article:CELLULAR COMMUNICATIONS INTERNATIONAL APPOINTS WILLIAM COOPER DIRECTOR, TECHNOLOGY AND ENGINEERING
Next Article:SURGERY CENTER ASSOCIATION ELECTS WILLIAMS TO BOARD
Topics:


Related Articles
HEALTH-CHEM REPORTS EARNINGS
HEALTH-CHEM CORPORATION REPORTS RESULTS
CHEMICAL WASTE MANAGEMENT REPORTS IMPROVED FIRST QUARTER RESULTS
HEALTH-CHEM REPORTS RESULTS; BOARD APPROVES REPURCHASE OF DEBENTURES
HEALTH-CHEM REPORTS ON BOLAR VS. HERCON LITIGATION
HEALTH-CHEM CORPORATION ANNOUNCES RESULTS
HEALTH-CHEM CORPORATION REPORTS RESULTS
Chem Rx Reports Second Quarter 2007 Results.
Chem Rx Corporation Reports First Quarter 2008 Financial Results.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters