BURNUP POSTS SECOND QUARTER EARNINGS
BURNUP POSTS SECOND QUARTER EARNINGS FORT LAUDERDALE, Fla., Dec. 2 /PRNewswire/ -- Burnup & Sims Inc.
(NASDAQ: BSIM) today reported earnings for the second quarter ended Oct. 31, 1991, of $730,000, or $.08 per share, on revenues of $43.1 million, compared to $1.8 million, or $.19 per share, on revenues of $47.7 million last year.
Earnings for the six months were $782,000, or $.09 per share, on revenues of $81.5 million, compared to $4.0 million, or $.42 per share, on revenues of $96.1 million for the same period last year. Net income for the first six months of last year included approximately $1.9 million, or $.19 per share, from the company's equity in earnings of National Beverage Corp. Burnup & Sims operations remain profitable, even with today's downward economic pressures. These pressures on weakened markets in certain areas of the United States have caused major utilities to continue spending deferrals. Current economic pressures have also encouraged industry leaders to consolidate, benefiting from improved economies of scale, a broader revenue base and the synergies of consolidated management. "The company is continuing to explore expansion opportunities," a company spokesperson stated, "including mergers with other growth oriented companies." Opening the lines of communications(TM) across the United States, Burnup & Sims is a leading telecommunications service company with diversified interests in movie theatres, commercial printing and real estate. BURNUP & SIMS INC. CONSOLIDATED RESULTS FOR THE PERIODS ENDED OCT. 31, 1991 AND 1990 (In Thousands, Except Per Share Amounts) Three Months Six Months Ended Ended Oct. 31, Oct. 31, 1991 1990 1991 1990 Revenues $43,111 $47,744 $81,541 $96,116 Income Before Equity in Net Income of National Beverage $ 730 $ 1,353 $ 782 $ 2,153 Equity in Net Income of National Beverage $ 0 $ 450 $ 0 $ 1,860 Net Income $ 730 $ 1,803 $ 782 $ 4,013 Average Shares Outstanding 8,768 9,666 8,768 9,663 Earnings Per Share (A) $ .08 $ .19 $ .09 $ .42 (A) -- Includes $.07 and $.05 from the repurchase of Burnup & Sims Inc. 12 percent debentures for the periods ended October 31, 1991 and 1990, respectively. -0- 12/2/91 /CONTACT: George Bracken or Aimee Zbiegien of Burnup & Sims, 305- 587-4512/ (BSIM) CO: Burnup & Sims ST: Florida IN: TLS SU: ERN
JJ-MR -- FL014 -- 8478 12/02/91 15:51 EST
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|Date:||Dec 2, 1991|
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