GLACIER HOLDINGS ANNOUNCES YEAR-END RESULTS
GLACIER HOLDINGS ANNOUNCES YEAR-END RESULTS NILES, Ill., Oct. 7 /PRNewswire/ -- Glacier Holdings Inc.
(NASDAQ: GHCI), a rapidly growing marketer of household products, including Glacier Pure(TM) water filtration and processing systems and Salton(TM) watches and clocks, announced today that sales increased 48.6 percent for the fiscal year ended June 27, 1992, to a record $7,630,128, from the prior year's $5,134,691. For the year, Glacier Holdings Inc. reported a net loss of $306,504, or ($0.14) per share, compared with net income of $24,086, or $0.02 per share a year ago.
The company also announced a 47 percent increase in gross profit for the year to a record $2,183,204 from the prior year's $1,484,943. Glacier attributed the year-end loss to several factors, including an increase in accounts receivable reserves, costs associated with the company's relocation and a generally sluggish economy. -0- 10/7/92 /CONTACT: Joe Kowal of Glacier Holdings, 714-857-5247; or Shannon T. Squyres of Corporate Relations Group, 714-955-1860, for Glacier Holdings/ (GHCI) CO: Glacier Holdings Inc. ST: Illinois IN: HOU SU: ERN
LS-JB -- LA007 -- 7357 10/07/92 09:30 EDT
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|Date:||Oct 7, 1992|
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