DYNAMIC CLASSICS ANNOUNCES THIRD QUARTER RESULTS
DYNAMIC CLASSICS ANNOUNCES THIRD QUARTER RESULTS NEW YORK, April 6 /PRNewswire/ -- Dynamic Classics, Ltd.
(NASDAQ: DYNC) today announced results for the nine and three month periods ending Jan. 31, 1992. For the nine month period, sales increased $2,466,299 from $20,376,941, to $22,843,240, approximately 12 percent. Sales for the three month period decreased $268,624 from $5,949,629 to $5,681,005 or 4.5 percent.
For the nine months, net income increased $172,513 from $346,137 to $518,650. Per share net income increased 10 cents from 20 cents to 30 cents per share, a 50 percent increase. For the three months the net loss decreased $101,905 from ($190,235) to ($88,330), or from (11 cents) to (5 cents) per share. Marvin Cooper, president, Dynamic Classics, Ltd. stated that "gross profit decreased due to the revenue mix and sales of exercise equipment continuing to be softer than last year's sales." Citing that this year's results continue to improve over last year's; Cooper stated that he remains confident that Dynamic Classics, Ltd. will continue to report positive progress. DYNAMIC CLASSICS, LTD. Quarter ended Jan. 31, 1992 1991 Sales $5,681,005 $5,949,629 Net loss (88,330) (190,235) Share loss ($.05) ($.11) Nine months revenues 22,843,240 20,376,941 Net income 518,650 346,137 Share earnings $.30 $.20 -0- 4/6/92 /CONTACT: Robert Long of Dynamic Classics, 201-467-0359/ (DYNC) CO: ST: New York IN: SU: ERN
SH-TS -- NY020 -- 5246 04/06/92 09:57 EDT
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|Date:||Apr 6, 1992|
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