ROADMASTER REPORTS 42 PERCENT INCREASE IN THIRD QUARTER REVENUES THIRD QUARTER NET INCOME EXCEEDS $2 MILLION
ROADMASTER REPORTS 42 PERCENT INCREASE IN THIRD QUARTER REVENUES
THIRD QUARTER NET INCOME EXCEEDS $2 MILLION
ENGLEWOOD, Colo., Nov. 13 /PRNewswire/ -- Roadmaster Industries Inc. (NASDAQ: WHEL), announced its unaudited financial results for the third quarter and nine month period ended Sept. 30, 1991. The company reported net sales for the third quarter 1991 of $54.5 million compared to net sales of $38.3 million for the like period in 1990. Net income for the third quarter ended Sept. 30, 1991 was $2.1 million and earnings per share was $.08. This compares to a net loss of $389,000 and loss per share of $.01 for the like period in 1990. The increase in net sales for the third quarter of 1991 over 1990 represents an increase of over 42 percent.
For the nine month period ended Sept. 30, 1991, net sales were $134.9 million with a net loss of $253,000 or $.01 per share. Comparatively, sales for the like period in 1990 were $112.7 million with a net loss of $2.6 million or $.10 per share.
The company expects a very strong fourth quarter for 1991 with demand for the company's products and open orders for shipment at high levels. As recently reported, October 1991 revenues were in excess of $25 million with continued profitability.
Roadmaster Industries Inc. operates through its two wholly-owned subsidiaries, Roadmaster Corp. and Hamilton Lamp Corp. Roadmaster Corp. is a leading designer and manufacturer of junior wheel goods, bicycles and health fitness equipment. Hamilton Lamp Corp. is a leading manufacturer of lamps and replacement shades.
/CONTACT: Thomas B. Olson of Roadmaster Industries, 303-290-8150/
(WHEL) CO: Roadmaster Industries Inc. ST: Colorado IN: SU: ERN SG -- DV004 -- 3908 11/13/91 11:40 EST