Steady as she goes.Black-owned stocks show small price gains In April, when we last reported on them, a number of the companies that comprise the BE Black Stock Index were undergoing makeovers. Some sold or closed subsidiaries, some acquired other companies--all in hope of expanding market share and boosting earnings. Now it appears those moves have begun to pay off. The following is a roundup of recent activities at several of the firms: American Shared Hospital Services (AMEX AMEX See: American Stock Exchange : AMS AMS - Andrew Message System ): The San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden medical-services firm, which sold its diagnostic-imaging business for $14 million last November, recently reported that net income for the second quarter ended June 30 rose to $495,000, or nine cents a share, from $300,000, or five cents a share. By early September, AMS's stock had risen from $1.43 a share to $4.13. Ault Inc. (Nasdaq: AULT): The Minneapolis-based maker of external power conversion products has branched out, embarking on a joint venture with Japanese trading firm Sumitomo Inc., called Ault Energy Systems Inc., which will make and market battery packs for wireless phones. Ault said net income for the fiscal year ended May 30 rose to $1.98 million, or 45 cents a diluted share, from $1.32 million, or 31 cents a diluted share a year ago. Sales for the year rose 24% to $50.9 million, from $41.1 million in 1998. Ault said it expects fiscal 2000 to be "another year of solid sales and earnings growth." Caraco Pharmaceutical Labs (OTC-BB: CARA CARA Chicago Area Runners Association CARA Center for Applied Research in the Apostolate (Washington, DC) CARA Center for Astrophysical Research in Antarctica CARA Classification and Rating Administration .OB): The Detroit-based company, which develops, makes and distributes generic and private-label prescription drugs, said sales for the second quarter ended June 30 jumped 64% to $804,812 from $490,885 a year ago. Still, the company posted a loss of $1.7 million, or 11 cents a share, compared with a loss of $1.6 million, or 12 cents a share in last year's second quarter. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Caraco, higher research and development costs were primarily to blame for this year's loss. The company recently established a $5.3 million credit line to fund new-product R&D and said it plans to introduce four new drugs in the third quarter. Carver Bancorp Carver Bancorp, Inc. is the holding company of Carver Federal Savings Bank. It is a public company, and notable for being the first and only black-managed bank on NASDAQ and one of only 11 black-managed publicly traded companies, making it the largest black-owned (AMEX: CNY CNY In currencies, this is the abbreviation for the China Renminbi. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) had higher earnings for its fiscal first quarter ended June 30. The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City-based holding company for Carver Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks recently reported net income of $787,000, or 35 cents a share, for the quarter, up from $318,000, or 14 cents a share, the previous year. The results reflect a tax-loss carryforward resulting from a prior period loss. Total assets rose to $422.5 million during the quarter, an increase of 1.44%, compared with $416.5 million in the year-ago period. Deborah C. Wright, Carver's new president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said in a statement that the bank is rebuilding its core businesses in residential and commercial mortgage lending as part of its plan to further improve its financial performance. Granite Broadcasting (Nasdaq: GBTVK), a New York City-based owner of television stations across the country, announced September I that it intends to significantly expand the local news programming and cable distribution of KNTV, its San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. , station, In order to fulfill this plan, Granite and the ABC-TV network agreed to end KNTV's ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. affiliation in July 2000 in exchange for a cash payment to Granite. OAO OAO Orbiting Astronomical Observatory OAO Over and Out OAO One And Only OAO Ontario Association of Orthodontists OAO Owned and Operated OAO Ontario Association of Optometrists OAO Opticians Association of Ohio OAO Orthogonalized Atomic Orbital Technology Solutions (Nasdaq: OAOT), a Greenbelt, Maryland Greenbelt is a city in Prince George's County, Maryland, United States. Contained within today's City of Greenbelt is the historic, planned community now known locally as "Old Greenbelt." Greenbelt's population was 21,456 at the 2000 census. , provider of information technology solutions and professional services, reported positive second-quarter earnings. The firm had net income of $339,000, or 2 cents a share, compared with a loss of $2.67 million, or 16 cents a share, the previous year. Revenues increased to $39.2 million in the quarter, up from $20.3 million in the year-ago period. OAO Technology said the second quarter was its third consecutive profitable quarter. In a statement, Greg Pratt, the company's president and CEO, said OAO Technology, through acquisitions, was accelerating its transition into faster-growth businesses such as e-commerce and enterprise application solutions. Pratt expects to see positive results from these efforts in several quarters.
B.E. Black Stock Watch
52-Week
Company Exchange: Symbol High Low
American Shared Hospital AMEX:AMS $4.31 $0.63
Services
Ault Inc. Nasdaq:AULT 12.75 3.75
Broadway Financial Corp. Nasdaq: BYFC 9.50 5.13
Caraco Pharmaceutical Labs OTC-BB:CARA.OB 1.75 0.44
Carson Inc. NYSE:CIC 5.13 1.50
Carver Bancorp AMEX:CNY 11.38 8.50
Chapman Holdings Nasdaq:CMAN 10.13 4.50
Granite Broadcasting Nasdaq:GBTVK 12.00 3.50
OAO Technology Solutions Nasdaq:OAOT 8.00 2.13
United American Healthcare NYSE:UAH 1.94 0.75
Current
Company Price(*) P/E EPS(**)
American Shared Hospital $4.13 1.27 $3.24
Services
Ault Inc. 5.75 12.78 0.45
Broadway Financial Corp. 7.25 N/A -0.03
Caraco Pharmaceutical Labs 1.09 N/A N/A
Carson Inc. 3.19 3.22 0.99
Carver Bancorp 9.25 N/A -1.81
Chapman Holdings 8.00 N/A -0.42
Granite Broadcasting 11.81 10.27 1.15
OAO Technology Solutions 2.94 N/A -0.05
United American Healthcare 1.06 N/A -1.33
As of 9/7/99 (**) Earnings per share, excluding extraordinary charges. Source: Yahoo! Finance (http://finance.yahoo.com)3 |
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