Printer Friendly

PCI SERVICES REPORTS FIRST QUARTER 1992 RESULTS

 PCI SERVICES REPORTS FIRST QUARTER 1992 RESULTS
 PENNSAUKEN, N.J., Feb. 4 /PRNewswire/ -- PCI Services, Inc.


(NASDAQ: PCIS), a leading contract packager for the pharmaceutical industry, today reported revenues and earnings for the first quarter of fiscal 1992.
 For the quarter Dec. 31, 1991, revenues were $15,237,000 as compared to $13,741,000 on a pro-forma basis in the corresponding year-earlier period, an increase of 11 percent. Net income increased 57 percent to $685,000 or 24 cents per share vs. $436,000 or 15 cents per share on a pro-forma basis.
 The prior year pro-forma results reflect the elimination as of October 1991 of management fees charged by PCI's parent, MEDIQ Incorporated, and the elimination of PCI Virginia operations which were transferred to MEDIQ effective Oct. 1, 1991. Actual results for the first quarter in the prior year before the pro-forma adjustments were revenues of $14,306,000 and a net loss of $480,000 or 17 cents per share.
 PCI Services, Inc., formerly a wholly owned subsidiary of MEDIQ Incorporated, completed its initial public offering of common stock on Jan. 28, 1992, having sold 2,875,000 shares at $10 per share. All per- share amounts are based on the 2,875,000 shares outstanding prior to the public offering. The company currently is 50 percent owned by MEDIQ Incorporated, which has a portfolio of businesses providing healthcare products and services.
 PCI SERVICES, INC.
 Operating Results (Unaudited)
 Three months ended Dec. 31 1991 1990
 (Actual) (Pro-forma)
 Revenues $15,237,000 $13,741,000
 Net income 685,000 436,000
 Earnings per share $.24 $.15
 Average shares outstanding 2,875,000 2,875,000
 /delval/
 -0- 2/4/92
 /CONTACT: Michael F. Sandler, senior vp-finance of MEDIQ, 609-665-9300, ext. 6005/
 (MED) CO: PCI Services, Inc. ST: New Jersey IN: HEA SU: ERN


KA-MP -- PH032 -- 6776 02/04/92 14:04 EST
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:Feb 4, 1992
Words:314
Previous Article:PRIME BANCORP REPORTS CALENDAR YEAR 1991 EARNINGS
Next Article:GAYLORD REPORTS FIRST QUARTER FISCAL 1992 LOSS
Topics:


Related Articles
PCI SERVICES REPORTS THIRD QUARTER RESULTS
PCI SERVICES REPORTS RECORD FOURTH QUARTER AND FISCAL YEAR RESULTS
PCI SERVICES EXPECTS LOWER THAN ANTICIPATED PROFITS
PCI SERVICES, INC. REPORTS HIGHER SECOND QUARTER REVENUES AND PROFITS
CONTINENTAL CAN COMPANY, INC. REPORTS RESULTS
PCI SERVICES, INC. REPORTS HIGHER THIRD QUARTER REVENUES AND PROFITS
PCI SERVICES REPORTS SECOND QUARTER OPERATING RESULTS
PCI SERVICES REPORTS THIRD QUARTER OPERATING RESULTS AND STOCK PURCHASE PROGRAM
PCI SERVICES REPORTS FIRST QUARTER REVENUES AND PROFITS
PCI SERVICES REPORTS RECORD FIRST QUARTER REVENUES AND EARNINGS

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