HOSPOSABLE PRODUCTS REPORTS INCREASED SALES AND EARNINGS FOR YEAR ENDING DEC. 31, 1992
/REPEATING FOR POINTS NEEDED/ BOUND BROOK, N.J., March 4 /PRNewswire/ -- Hosposable Products, Inc.
(NASDAQ: HOSP) reported an increase in net earnings of 34 percent on an increase in sales of 10 percent. Net income rose to $951,000 or $.56 per share, on sales of $29.75 million for the year ended Dec. 31, 1992. This compares with net income of $710,000, or $.41 per share, on sales of $27.12 million in 1991. Fourth quarter net earnings were $176,000 ($.10 per share) in 1992. This compares to a break even in 1991.
Leonard Schramm, president and CEO of Hosposable Products, Inc., stated, "The improvement in sales and earnings is largely attributable to stronger results in both the health care and non woven segments." Hosposable Products, Inc., with facilities in Bound Brook, N.J., Fresno, Calif. and Jackson, Tenn., manufactures and distributes disposable incontinent products to the medical/surgical market. Its non woven division produces "air-laid" non woven disposable fabrics for use in many industries. Through its IFC subsidiary, the company produces and distributes a broad line of disposable industrial wiping, clean room and food service products. HOSPOSABLE PRODUCTS, INC. STATEMENT OF OPERATIONS YEAR ENDED DEC. 31, 1992 1991 NET SALES $29,748,173 $27,119,764 EARNINGS BEFORE TAXES 1,588,308 1,187,277 INCOME TAXES 637,034 477,199 NET EARNINGS 951,274 710,078 NET EARNINGS PER SHARE .56 .41 Weighted Average Shares 1,703,270 1,716,211 QUARTER ENDED DEC. 31, (Unaudited) 1992 1991 NET SALES $7,375,740 $6,571,731 EARNINGS BEFORE TAXES 295,326 9,261 INCOME TAXES 118,997 9,489 NET EARNINGS (loss) 176,329 ( 228) NET EARNINGS PER SHARE .10 .00 Weighted Average Shares 1,698,595 1,698,051 -0- 3/4/93 /CONTACT: Richard L. Cohan of Hosposable Products, Inc., 908-469-8700/ (HOSP)
CO: Hosposable Products, Inc. ST: New Jersey IN: HEA SU: ERN
JB-AW -- FL005 -- 3251 03/05/93 00:20 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Mar 5, 1993|
|Previous Article:||CLAIRE'S STORES, INC. REPORTS FEBRUARY SALES UP 10 PERCENT; SAME-STORE SALES INCREASE 6 PERCENT|
|Next Article:||FIRSTAT NURSING SERVICES HOLDS FIRST ANNUAL NATIONAL SALES MEETING|