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MARLTON TECHNOLOGIES ANNOUNCES THIRD QUARTER 1993 EARNINGS

 PHILADELPHIA, Nov. 15 /PRNewswire/ -- Marlton Technologies, Inc. (AMEX: MTY) today reported net sales of $4,404,692 for the third quarter of 1993, as compared to third quarter 1992 net sales of $4,489,651.
 Net income decreased from $38,440 (including extraordinary credit of $14,000 for NOL carryforward) to a loss of $165,831 after recognizing an extraordinary loss on the early extinguishment of debt in the amount of $99,160 net of income taxes. Third quarter earnings per share after incorporating this extraordinary loss related to debt retirement was a loss of $.045, as compared to income of $.01 per share in 1992.
 For the nine months ended Sept. 30, 1993, Marlton reported net sales of $14,742,343 as compared to net sales for nine months ended Sept. 30, 1992, of $13,672,711, an 8 percent increase. Net income for the comparable nine-month periods ended Sept. 30, 1993 and 1992, increased from $487,299 ($.13 per share) after incorporating a $181,000 extraordinary credit attributed to NOL carryforwards to $1,433,678 ($.39 per share) after incorporating a $1,500,000 cumulative effect of an accounting change for income taxes and a $99,160 loss (net of taxes) related to debt retirement.
 Robert Ginsburg, CEO, stated that the reported decreases in net income were the result of less than anticipated operating results from newly acquired operations in both California and Florida and a decrease in volume generated by Atlanta operations. However, Ginsburg noted that current backlog is substantially higher than in the previous year, specifically in the museum and architectural design group, which should enable the Sparks entities to more effectively spread the workflow throughout the course of 1994 and increase overall efficiencies.
 Additionally, Ginsburg stated that while the early extinguishment of debt created an extraordinary loss for the quarter, the overall effect to Marlton's balance sheet was extremely positive, enhancing Marlton's cash position by greater than 50 percent since June 30, 1993.
 MARLTON TECHNOLOGIES, INC.
 Consolidated Statement of Operations
 (Unaudited)
 Periods ended Three months Nine months
 Sept. 30 1993 1992 1993 1992
 Net sales $4,404,692 $4,489,651 $14,742,343 $13,672,711
 Operating profit
 (loss) (127,604) 10,308 48,131 395,267
 Other income (expense) 14,933 32,132 4,707 134,032
 Net income (loss) before
 provision (benefit) for income
 taxes, cumulative effect on
 accounting change, and
 extraordinary items (112,671) 42,440 52,838 529,299
 Provision (benefit)
 for income taxes (46,000) 18,000 20,000 223,000
 Net income (loss) before
 cumulative effect of
 accounting change and
 extraordinary items (66,671) 24,440 32,838 306,299
 Cumulative effect of
 change in accounting
 for income taxes --- --- 1,500,000 ---
 Extraordinary items:
 Loss related to debt
 retirement, net of
 income tax benefit
 of $65,940 99,160 --- 99,160 ---
 Credit attributed to
 net operating loss
 carryforward --- 14,000 --- 181,000
 Net income (loss) (165,831) 38,440 1,433,678 487,299
 Weighted average number
 of common shares
 outstanding 3,679,363 3,480,244 3,679,363 3,480,244
 Income (loss) per
 common share $(.045) $.011 $.390 $.134
 /delval/
 -0- 11/15/93 R
 /CONTACT: Alan I. Goldberg, director of acquisitions of Marlton Technologies, 215-664-6900/
 (MTY)


CO: Marlton Technologies, Inc. ST: Pennsylvania IN: SU: ERN

MK-LJ -- PH031R -- 5564 11/17/93 14:13 EST
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Publication:PR Newswire
Date:Nov 17, 1993
Words:560
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