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/C O R R E C T I O N -- BEARD COMPANY/

 In NY084, Beard Company Reports 1993 Results, moved yesterday, we are advised by a representative of the company that the release has been significantly revised by the company since it was originally issued. The revised release follows:
 THE BEARD COMPANY REPORTS REVISED 1993 RESULTS
 OKLAHOMA CITY, April 19 /PRNewswire/ -- The Beard Company financial results for 1993 as reported April 18 are herein revised to reflect corrections in the number of average shares outstanding as of Dec. 31, 1992. The company's corrected report reflects a net loss from continuing operations of $606,000, or 29 cents per common share, for 1993 vs. a 1992 net loss from continuing operations of $6,537,000, or $3.29 per common share. 1993 revenues were $16.1 million, a 27 percent increase over 1992 revenues of $12.7 million.
 The company also reported that, as a result of a $47.1 million extraordinary gain from a debt restructuring consummated in October of 1993, net earnings for 1993 totaled $35,010,000, or $16.58 per share, vs. a net loss of $32,493,000, or $16.34 per share, in 1992. As a result, the company's common shareholders' equity increased from a $27.7 million deficit at Dec. 31, 1992 to a positive $8.6 million at Dec. 31, 1993.
 A comparative breakout of the significant earnings (loss) components reflects the following:
 1993 1992
 Net loss from continuing operations $(606,000) $(6,537,000)
 Net loss from discontinued operations (11,470,000) (25,956,000)
 Extraordinary gain on debt restructuring 47,086,000 --
 Net earnings (loss) $35,010,000 $(32,493,000)
 Herb Mee Jr., president, stated: "We are pleased with the final results for the year. Now that the debt restructure has been concluded, and most of the loose ends resulting therefrom have been cleaned up, management can devote its time and attention to the day-to-day operations of the company and its subsidiaries and to improving bottom line results."
 Mee also advised that the per share earnings figures above do not reflect the dilution from the preferred shares now outstanding. A table setting forth the details of earnings per common share (primary and fully diluted) follows.
 The Beard Company's common stock is traded on the American Stock Exchange under the symbol: BOC. Its operations consist principally of its carbon dioxide (CO2) and dry ice (solid CO2) activities, its real estate construction and development activities, its alternative fuels research and development activities, and its newly organized environmental services activities.
 THE BEARD COMPANY
 Statements of Operations
 For the Three Months Ended For the Year Ended
 December 31, December 31,
 (Unaudited) (Audited)
 1993 1992 1993 1992
 Revenues $5,568,000 $3,448,000 $16,095,000 $12,675,000
 Expenses 5,821,000 7,463,000 16,772,000 17,883,000
 Operating profit
 (loss) (253,000) (4,015,000) (677,000) (5,208,000)
 Other income
 (expense) 188,000 (865,000) 71,000 (1,329,000)
 Loss from continuing
 operations before
 income taxes (65,000) (4,880,000) (606,000) (6,537,000)
 Income taxes -- -- -- --
 Net loss from
 continuing
 operations (65,000) (4,880,000) (606,000) (6,537,000)
 Net loss
 from discontinued
 operations (548,000) (10,939,000) (11,470,000) (25,956,000)
 Extraordinary gain
 on debt
 restructuring 47,086,000 -- 47,086,000 --
 Net earnings
 (loss) $46,473,000 $(15,819,000) $35,010,000 ($32,493,000)
 Earnings per common share and common
 equivalent share (primary EPS):
 Net loss from
 continuing
 operations ($0.03) ($2.45) ($0.29) ($3.29)
 Net loss from
 discontinued
 operations (0.22) (5.50) (5.43) (13.05)
 Extraordinary gain
 on debt
 restructuring 19.05 -- 22.30 --
 Net earnings
 (loss) $18.80 ($7.95) $16.58 ($16.34)
 Weighted average
 shares used
 in primary
 computation 2,472,000 1,989,000 2,111,000 1,989,000
 Earnings per common share
 assuming maximum dilution
 (fully diluted EPS):
 Net loss from
 continuing
 operations ($0.02) ($2.45) ($0.28) ($3.29)
 Net loss from
 discontinued
 operations (0.20) (5.50) (5.22) (13.05)
 Extraordinary gain
 on debt
 restructuring 16.74 -- 21.44 --
 Net earnings (loss) $16.52 ($7.95) $15.94 ($16.34)
 Weighted average
 shares used
 in primary
 computation 2,813,000 1,989,000 2,197,000 1,989,000
 -0- 4/19/94
 /CONTACT: Herb Mee Jr., president, The Beard Company, 405-842-2333, or Cheryl M. Hudak, president, Cheryl Mayfield Hudak Communications, 405-848-3520/
 (BOC)


CO: Beard Company ST: Oklahoma IN: CHM SU: ERN

TW-LG -- NY070 -- 8148 04/19/94 12:11 EDT
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Date:Apr 19, 1994
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