Marlton Technologies, Inc. Announces Second Quarter 2006 Results.PHILADELPHIA Philadelphia, ancient cities Philadelphia, name of several ancient cities. One was in Lydia, W Asia Minor (now W Turkey). At the foot of Mt. Tmolus and near the location of modern Alaşehir, it was founded in the 2d cent. B.C. -- Marlton Marlton can refer to several things:
See: Over-the-counter. OTC See over-the-counter market (OTC). :MTYG.PK) today reported results for its second quarter ended June June: see month. 30, 2006. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $33.4 million for the second quarter of 2006 increased over net sales of $26 million reported for the comparable 2005 period. Net income of $2 million for the second quarter of 2006 increased above the $551,000 reported for the second quarter of 2005. For the first six months of 2006, net sales of $58 million increased over sales of $44.8 million for the first half of 2005. The sales increase was largely due to the Showtime show·time or show time n. 1. The time at which an entertainment, such as the showing of a movie, is scheduled to start. 2. Slang The time at which an activity is to begin. Noun 1. business acquired on March 15, 2005, which provided six months of sales in 2006 as compared with only 15 weeks in the 2005 first six month period. Net income of $2.6 million increased over the $1.5 million reported for the first six months of 2005. Bad debt recoveries of $54,000 and $576,000 were realized in the first quarter of 2006 and 2005, respectively. For the first quarter of 2006 and the first six months of 2005, the Company did not pay income taxes due to use of net operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. carry forwards. However for financial reporting purposes, the Company recorded a federal income tax provision of $1,354,000 for the first six months of 2006 and no income tax provision was recorded for the first quarter of 2005. The reason for this reporting difference is that in the fourth quarter of 2005, the Company recorded deferred income tax assets to reflect its expected future use of net operating loss carry forwards. As a result, the Company was required to reduce the deferred income tax assets and record a corresponding income tax provision. For the first half of 2005, the Company did not have deferred income tax assets on its balance sheet and therefore recorded no income tax provision. Marlton Technologies, Inc., through its Sparks Sparks, city (1990 pop. 53,367), Washoe co., W Nev., just E of Reno; inc. 1905. The Southern Pacific RR was the major employer until the dieselization of railroad engines forced the closing (1957) of the railroad shops there. Exhibits & Environments and Sparks Custom Retail subsidiaries, is engaged in the design, marketing and production of trade show, museum, theme park and themed interior exhibits, events, store fixtures, premium incentive plans and point of purchase displays, both domestically and internationally. The Company's 2005 audited financial statements and unaudited first and second quarter 2006 financial statements are available at www.marltontechnologies.com or by request from the Company. This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which are subject to change as a result of various factors, including without limitation the Company's ability to control costs, the availability of financing, the effects of competition and the effects of changes in the economy and international affairs Noun 1. international affairs - affairs between nations; "you can't really keep up with world affairs by watching television" world affairs affairs - transactions of professional or public interest; "news of current affairs"; "great affairs of state" .
MARLTON TECHNOLOGIES, INC.
AND SUBSIDIARIES
(UNAUDITED)
(In thousands)
THREE MONTHS ENDED SIX MONTHS ENDED
June 30, June 30, June 30, June 30,
2006 2005 2006 2005
---------- -------- ----------- ---------
NET SALES $33,403 $25,969 $57,978 $44,805
OPERATING INCOME 3,157 703 4,198* 1,761*
OTHER EXPENSE (119) (152) (232) (253)
INCOME BEFORE INCOME TAXES 3,038 551 3,966 1,508
PROVISION FOR INCOME TAXES 1,039 - 1,354 -
---------- -------- ----------- ---------
NET INCOME $1,999 $551 $2,612 $1,508
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* Includes bad debt recoveries of $54 in the first quarter of 2006 and
$576 in the first quarter of 2005.
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