Printer Friendly

BARRINGER LABORATORIES ANNOUNCES SECOND QUARTER 1992 RESULTS

 BARRINGER LABORATORIES ANNOUNCES SECOND QUARTER 1992 RESULTS
 GOLDEN, Colo., Aug. 13 /PRNewswire/ -- Barringer Laboratories, Inc. (NASDAQ: BALB) announced today its results for the second quarter ended June 30, 1992.
 Revenue for the second quarter was $1,335,000 compared to revenue of $1,861,000 for the corresponding quarter last year. The decrease in revenue of $526,000 was due to the sale of its Canadian subsidiary in the second quarter of 1992 which caused $680,000 of the decrease. Second quarter revenue for its U.S. operations was $1,156,000 versus $1,002,000 in 1991, an increase of $154,000 (15.4 percent) over the corresponding quarter last year. Net income was $905,00 as compared to a net loss of $309,000 for the corresponding quarter last year. The increase in net income of $1,214,000 (392.8 percent) was due to the gain on sale of its Canadian subsidiary of $1,081,000 and the increase in U.S. operations sales and production efficiencies. For the six months ended June 30, 1992, revenues were $3,083,000 compared to $3,366,000 for the corresponding period in 1991. The decrease in revenue was due to the sale of its Canadian subsidiary. Revenue for its U.S. operations increased $414,000 (23.4 percent) over the corresponding half last year. Net income was $626,000 as compared to a net loss of $873,000 for the corresponding half last year. The increase in net income of $1,499,000 (171.7 percent) was due to the gain on the sale of its Canadian subsidiary of $1,081,000 and the increase in U.S. operation sales and production efficiencies.
 In commenting about results, Walker, Barringer's CEO said, "The increase in sales of our U.S. operations was the result of the company's two year investment to increase radiochemistry capabilities, quality assurance/control programs, and enhanced selling/marketing effort. The improvement in net loss before the gain on the sale of its Canadian subsidiary was due to increased production efficiencies resulting from the company's investment in state-of-the-art laboratory equipment, radiochemisty capabilities and the new mineral lab in Reno, Nev."
 Walker stated that sales will continue to increase throughout the remainder of the year and the bottom line should continue to improve. The results for July 1992 show continued sales and net income improvement.
 Barringer Laboratories, Inc. provides environmental analytical services for waste management, hydrocarbon, nuclear, and mining industries and assay/geochemical testing services for the mining industries.
 BARRINGER LABORATORIES, INC.
 Consolidated Condensed Results of Operations
 (Unaudited)
 Periods ended Three months Six months
 June 30 1992 1991 1992 1991
 Revenue $1,335,000 $1,861,000 $3,083,000 $3,366,000
 Net income (loss)
 before taxes 905,000 (309,000) 626,000 (873,000)
 Per share data $.39 ($.14) $.29 ($.40)
 Weighed average shares
 outstanding 2,193,333 2,183,333 2,193,223 2,183,333
 -0- 8/13/92
 /CONTACT: Robert Walker, 303-277-1687, or Stanley Binder, 908-561-6000, both of Barringer Technologies/
 (BALB) CO: Barringer Laboratories, Inc. ST: Colorado IN: SU: ERN


SM-TS -- NY031 -- 9623 08/13/92 12:12 EDT
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:Aug 13, 1992
Words:526
Previous Article:NACCO INDUSTRIES DECLARES QUARTERLY DIVIDEND
Next Article:ICN BIOMEDICALS REPORTS SECOND QUARTER RESULTS
Topics:


Related Articles
BARRINGER TECHNOLOGIES REPORTS YEAR END RESULTS; SALES FOR 1991 INCREASE 62 PERCENT
BARRINGER LABORATORIES ANNOUNCES 1991 RESULTS
BARRINGER ANNOUNCES FIRST QUARTER ACTIVITY; SALES ESTIMATED TO HAVE INCREASED OVER 200 PERCENT
BARRINGER TECHNOLOGIES ANNOUNCES FIRST-QUARTER RESULTS; REVENUES INCREASE 171 PERCENT
BARRINGER LABORATORIES ANNOUNCES FIRST QUARTER 1992 RESULTS
BARRINGER LABORATORIES ANNOUNCES SALE OF ITS CANADIAN SUBSIDIARY
BARRINGER LABORATORIES SELLS CANADIAN SUBSIDIARY
ATRIX LABORATORIES REPORTS THIRD QUARTER AND NINE MONTH RESULTS
BARRINGER TECHNOLOGIES ANNOUNCES SECOND QUARTER RESULTS
RX MEDICAL SERVICES CORP. (RXM) REPORTS RECORD REVENUES AND EARNINGS IN SECOND QUARTER OF 1992

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters