Printer Friendly

HENLEY INTERNATIONAL REPORTS RECORD SECOND QUARTER AND SIX MONTH RESULTS

HENLEY INTERNATIONAL REPORTS RECORD SECOND QUARTER AND SIX MONTH RESULTS
 SUGAR LAND, Texas, June 10 /PRNewswire/ -- Henley International, Inc. (AMEX: HEN) today reported record results for the second fiscal quarter and six months ended April 30, 1992.
 Net income for the second quarter of fiscal 1992 rose by 147 percent to $947,000 from the $384,000 reported in the second quarter of fiscal 1991. Earnings per share increased 36 percent to $0.19, versus earnings of $0.14 per share reported in the same period last year, which includes an 82 percent increase in weighted average shares outstanding in the second quarter of fiscal 1992. Income from operations was $1,539,000, up 135 percent from the $654,000 reported in the similar period last year. Net sales were $19,284,000, a 118 percent increase over the $8,849,000 reported in the second quarter of fiscal 1991.
 For the six month period, net income rose by 105 percent to $1,441,000, or $0.36 per share, from $704,000, or $0.26 per share, in the first six months of fiscal 1991. Income from operations was $2,849,000, up 121 percent from the $1,291,000 reported in the similar period last year. Net sales were $36,739,000, a 111 percent increase over the $17,410,000 reported in the six month period ended April 30, 1991.
 Weighted average shares outstanding for the first six months of fiscal 1992 increased 44 percent, due to the completion of the secondary offering in January and the exercise of the over-allotment option. Net proceeds of more than $35 million were realized from the offering, with approximately $17 million being immediately applied to non-trade debt, significantly reducing interest expense and strengthening the company's capital base.
 "Our record sales reflect the continued, strong contribution of our Argon Medical operations acquired in July 1991, as well as improvement in overall operations" said Kenneth W. Davidson, Henley's chairman, president and CEO. "While our gross margin reflects the larger percentage of revenue generated from our Hospital Specialties Division, operating margins increased in both absolute and percentage terms due to an increase in sales which did not require a similar increase in G & A expenses."
 "Planned new product introductions will continue to provide opportunities for revenue growth throughout the rest of fiscal 1992," Davidson concluded.
 Henley International, Inc is a developer, manufacturer and distributor of disposable specialty hospital products, and physical therapy and pain management products and equipment.
 HENLEY INTERNATIONAL, INC. & SUBSIDIARIES
 Consolidated Financial Data
 (Unaudited, in thousands, except per share data)
 Periods ended: Three months Six months
 April 30 1992 1991 1992 1991
 Net sales $19,284 $ 8,849 $36,739 $17,410
 Gross profit 7,716 4,060 14,885 7,809
 Income from operations 1,539 654 2,849 1,291
 Income before taxes 1,464 582 2,225 1,066
 Net income $ 947 $ 384 1,441 704
 Earnings per share $ 0.19 $ 0.14 $ 0.36 $ 0.26
 Weighted average number
 of shares outstanding 5,040 2,766 3,965 2,761
 -0- 6/10/92
 /CONTACT: Kenneth E. Pieper of Henley International, 214-701-8851, or Lynn Morgen or Robert Borchert of Morgen-Walke Associates, 212-986-5900, for Henley/
 (HEN) CO: Henley International Inc. ST: Texas IN: HEA SU: ERN


TS -- NY010 -- 8664 06/10/92 08:55 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:Jun 10, 1992
Words:557
Previous Article:MID AMERICAN NATIONAL BANK BUYS BUILDING
Next Article:HI-TECH MANAGEMENT ATTACKS HEALTH CARE INDUSTRY RED TAPE AND HIGH COST WITH HOME-BUSINESS APPROACH
Topics:


Related Articles
TECNOL MEDICAL PRODUCTS REPORTS RECORD SECOND-QUARTER RESULTS
FISHER SCIENTIFIC INTERNATIONAL REPORTS RESULTS
HENLEY INTERNATIONAL REPORTS RECORD THIRD QUARTER AND NINE MONTH RESULTS
Lasermedics' Third Quarter Earnings Increase 214 Percent
Henley Healthcare, Inc. Reports Second Quarter Results
Henley Healthcare Reports Record Nine Month Results
Henley Healthcare, Inc. Reports 1998 Second Quarter and Six Month Results - Sales Revenues Increase 135 Percent to $9 Million for the Quarter -
Rehabilicare Announces Record Revenue and Net Income for Second Quarter and First Six Months of Fiscal 1999.
Henley Healthcare, Inc. Reports 1999 Second Quarter Earnings.
Henley Healthcare, Inc. Reports Results Through Third Quarter - Company Reports Record Sales of $16.6 Million for the Quarter and Nets Pre-Tax Income...

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