HOSPOSABLE PRODUCTS POSTS RECORD SALES AND EARNINGS
HOSPOSABLE PRODUCTS POSTS RECORD SALES AND EARNINGS BOUND BROOK, N.J., May 14 /PRNewswire/ -- Hosposable Products, Inc.
(NASDAQ: HOSP) today announced sales for the three months ended March 31, 1992, increased 7.3 percent to $7,376,485 as compared with $6,873,972 in 1991. The increase resulted principally from higher sales in the healthcare sector.
Net income for the first quarter increased 25.9 percent to $346,747 compared with $275,460 in 1991. Net income per share was $.20 in 1992 compared with $.16 in 1991. "We have focused on promoting our proprietary healthcare lines of adult incontinent products and expanding our marketing and promotional efforts. At our industrial and food service subsidiary, IFC Disposables, Inc., we have made substantial adjustments in our marketing strategy and have instituted a cost reduction program that we believe will result in greater sales and profits as the year progresses," commented Leonard Schramm, president and CEO of Hosposable Products, Inc. Hosposable Products, Inc. manufactures and distributes disposable incontinent products to the healthcare market. Its non-woven division manufactures "air laid" non-woven disposable fabrics for use in many industries. Through their IFC subsidiary the company produces and distributes a broad line of branded disposable industrial wiping and food service products. HOSPOSABLE PRODUCTS, INC. Three months ended March 31 1992 1991 Net sales $7,376,485 $6,873,972 Earnings before taxes 576,579 454,149 Income taxes 229,832 178,689 Net earnings 346,747 275,460 Net earnings per share $.20 $.16 Weighted average shares 1,703,180 1,706,105 -0- 5/14/92 /CONTACT: Leonard Schramm, president and CEO of Hosposable Products, 908-469-8700, or Ray J. Jicka of Investor Relations Associates, 410-356-8815, for Hosposable Products/ (HOSP) CO: Hosposable Products, Inc. ST: New Jersey IN: HEA SU: ERN
CK-OS -- NY054 -- 0185 05/14/92 11:37 EDT
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|Date:||May 14, 1992|
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