Water-Jel Technologies announces earnings for fiscal 1995.
CARLSTADT, N.J.--(BUSINESS WIRE)--Dec. 21, 1995--Water-Jel Technologies Inc. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BURN, BURNZ) today announced the earning results for the fourth quarter and fiscal year ended Aug. 31, 1995.
Net sales Net Sales
The amount a seller receives from the buyer after costs associated with the sale are deducted.
This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the fiscal year ended Aug. 31, 1995 were approximately $5,029,000 as compared to $4,888,000 for the fiscal year ended Aug. 31, 1994. Pretax income pretax income
Reported income before the deduction of income taxes. Pretax income is sometimes considered a better measure of a firm's performance than aftertax income because taxes in one period may be influenced by activities in earlier periods. in fiscal 1995 was approximately $316,000 as compared to approximately $1,126,000 in fiscal 1994 which included income of approximately $638,000 from a sale of a marketable security marketable security
A security that may be resold by one investor to another. Most securities are marketable; they develop secondary markets for trading. Also called negotiable security. .
The company recorded an income tax benefit of $471,875, resulting in net income of $787,376 or 22 cents per share Cents per share
The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. in fiscal 1995 as compared to an income tax benefit of $115,000, resulting in net income of $1,240,847, or 35 cents per share for fiscal 1994.
Commenting on the year end results, Peter Cohen cohen
(Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , president of the company, stated "Fiscal 1995 marked the company's fourth consecutive year of earnings and increased sales. Our efforts during the year were focused on the expansion of our product lines.
"The company recently introduced generic creams and ointments ointments,
n.pl semisolid, non–water-based treatments that are not water-soluble and that create protective films to prevent dehydration of the skin. which include Hydrocortisone hydrocortisone (hī'drəkôr`tĭzōn'), another name for the steroid hormone cortisol, more especially used to refer to preparations of this hormone used medicinally. Cream, Triple Antibiotic Ointment antibiotic ointment Any of a number of topical antibacterial ointments or creams and First Aid Cream. In addition, the company recently introduced Cool-Jel, a topical gel for minor burns, cuts and scrapes."
Continuing, Cohen commented, "Although the company continues to reflect a strong balance sheet and profitability, management is not satisfied with the company's growth. One of our primary objectives in fiscal 1996 is to seek out acquisition candidates which will enhance shareholder value. The company has retained consultants to assist us in our search." -0-
Water-Jel Technologies Financial Highlights
Three Months Ended Twelve Months Ended Aug. 31, Aug. 31, 1995 1994 1995 1994
Net sales $1,338,677 $1,680,307 $5,029,217 $4,887,591 Operating expenses $1,332,122 $1,394,187 $4,879,775 $4,471,985 Other income $ 67,346 $ 668,430 $ 166,059 $ 710,241 Income before income tax benefit $ 73,901 $ 954,550 $ 315,501 $1,125,847 Income tax benefit $ 471,875 $ 115,000 $ 471,875 $ 115,000 Net income $ 545,776 $1,069,550 $ 787,376 $1,240,847 Net income per common share .15 .31 .22 .35 Weighted average number common shares outstanding 3,623,005 3,499,199 3,623,005 3,498,857
Water-Jel Technologies manufactures and markets emergency first aid products for burns and over-the-counter generic creams and ointments. The company's burn products consists of fire blankets, sterile burn dressings, and topical gels.
CONTACT: Water-Jel Technologies Inc., Carlstadt
Peter D. Cohen or Alex M. Alaminos, 201/507-8300