Printer Friendly

HOLOPAK TECHNOLOGIES REPORTS THREE-FOLD INCREASE IN THIRD-QUARTER NET

HOLOPAK TECHNOLOGIES REPORTS THREE-FOLD INCREASE IN THIRD-QUARTER NET
 EAST BRUNSWICK, N.J., Jan. 24 /PRNewswire/ -- HoloPak Technologies, Inc. (NASDAQ: HOLO), a leading specialty manufacturer of holographic images and hot stamp foils, today reported record operating results for the third quarter of fiscal 1992.
 For the three months ended Dec. 31, 1991, HoloPak reported a three- fold increase in net income to $413,342, or 12 cents per share, on a 7 percent gain in sales to $7,282,426. This compares with third quarter net income a year earlier of $103,659, or 4 cents per share, on sales of $6,814,479.
 "As expected, the proceeds of last September's IPO allowed us to completely pay off our long-term debt and eliminate approximately $150,000 in quarterly interest payments," said Harry Parker, chief executive officer of HoloPak. "Improved margins and our ongoing efforts to keep a tight reign on expenses also made an important contribution to third quarter's results."
 For the nine months ended Dec. 31, 1991, net income more than doubled to $1,375,374, or 44 cents per share, on a sales increase of 9 percent to $24,067,351. This compares with net income for the same period a year ago of $445,524, or 16 cents per share, on sales of $22,084,923.
 Net income for the first nine months of fiscal 1992 includes a one- time, second-quarter charge of $57,160, or 2 cents per share, related to HoloPak's prepayment of bank debt from the proceeds of its initial public offering. Excluding this one-time charge, nine-month net income would have been $1,432,534, or 46 cents per share.
 The company said sales of holographic materials and hot stamp foils remain healthy despite the sluggishness of the overall economy. "Sales gains are on par with our expectations, and we foresee further improvements in profitability as volume-related operating efficiencies come in to play," Parker said.
 "Holographic images will continue to be our fastest growing product category for the foreseeable future," Parker noted. "Holograms are gaining wide acceptance in the graphic arts and packaging industries, and we have worked closely with our customers to create new, novel and cost-effective applications for the technology."
 HoloPak Technologies, Inc., is a leading specialty manufacturer of holographic images, hot stamp foils, diffractive films and laminates used to decorate or label a wide variety of products including packaging and promotional materials, greeting cards, paperback book covers, cosmetics, appliances, and sporting goods. Three-dimensional holograms are also used in security/anti-counterfeiting applications.
 HOLOPAK TECHNOLOGIES, INC. AND SUBSIDIARIES
 Selected Financial Data
 (Unaudited)
 (Amounts in 000's except share and per share data)
 Periods ended Three Months Nine Months
 Dec. 31 1991 1990 1991 1990
 Net Sales $7,282 $6,814 $24,067 $22,085
 Gross Profit 2,276 1,943 7,505 6,095
 Operating Profit 762 459 3,051 1,652
 Interest Expense -- 261 434 801
 Net Income Before
 Extraord. Item 413 104 1,433 (A) 446
 Net Income 413 104 1,375 446
 Earns. Per Shr. Bef.
 Extraord. Item $0.12 $0.04 $0.46 (A) $0.16
 Earnings Per Share $0.12 $0.04 $0.44 $0.16
 Weighted Average
 Shares Outstg. 3,500,467 2,726,154 3,123,144 2,726,154
 (A) -- Excludes a one-time, after-tax charge of $57,160, or 2 cents per share, related to the prepayment of bank debt from the proceeds of HoloPak's initial public offering in September 1991.
 -0- 1/24/92
 /CONTACT: Matthew Golembeski of HoloPak, 908-238-1800/
 (HOLO) CO: HoloPak Technologies, Inc. ST: New Jersey IN: SU: ERN


GK -- NY027 -- 3185 01/24/92 10:21 EST
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:Jan 24, 1992
Words:604
Previous Article:PONTIAC DIVISION REPORTS SALES INCREASE
Next Article:MORGAN STANLEY GROUP REPORTS RESULTS


Related Articles
HOLOPAK TECHNOLOGIES, INC. REPORTS FOURTH-QUARTER RESULTS
HOLOPAK TECHNOLOGIES, INC. REPORTS FIRST-QUARTER RESULTS
HOLOPAK TECHNOLOGIES, INC. ANNOUNCES 25 PERCENT INCREASE IN EPS ON 14 PERCENT INCREASE IN SALES
HOLOPAK TECHNOLOGIES, INC. REPORTS RECORD SALES, LOWER FIRST-QUARTER PROFITS
HOLOPAK TECHNOLOGIES, INC. ANNOUNCES 302 PERCENT INCREASE IN NET INCOME ON 80 PERCENT INCREASE IN SALES
HOLOPAK TECHNOLOGIES, INC. ANNOUNCES THIRD QUARTER RESULTS
HOLOPAK TECHNOLOGIES, INC. REPORTS FOURTH-QUARTER RESULTS
HOLOPAK TECHNOLOGIES, INC. REPORTS FIRST-QUARTER RESULTS
HOLOPAK TECHNOLOGIES, INC. REPORTS THIRD-QUARTER RESULTS
HOLOPAK TECHNOLOGIES REPORTS RECORD FOURTH-QUARTER RESULTS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters