Printer Friendly

INDUSTRIAL HOLDINGS, INC. ANNOUNCES THIRD QUARTER RESULTS

 HOUSTON, April 30 /PRNewswire/ -- Industrial Holdings, Inc. (NASDAQ/NMS: IHII) (IHI) announced the results of operations for the first quarter of 1993. The increase in net income to $140,582 is primarily attributable to reduced operational costs, improved gross margins and the acquisition of Pipeline Valve Specialty, Inc. and Landreth Engineering. Cash flow increased to $369,752 or 15 cents per share.
 INDUSTRIAL HOLDINGS, INC.
 (Unaudited)
 Operations Data:
 Three months ended March 31, 1993 1992
 Sales $6,721,476 $4,720,825
 Income From Operations 313,851 99,806
 Net Income 140,582 66,246
 Net Income Per Share
 (primary & fully diluted) .06 .04
 IHI successfully completed the acquisition of The Rex Group, Inc. effective March 31, 1993. The purchase price is subject to final audit adjustments. Management believes the final purchase price will be between $1.5 and $2 million. The purchase will be paid with restricted IHI common stock.
 IHI is continuing to explore the market for potential acquisitions in the distribution and light manufacturing industries.
 IHI is a holding company organized to operate and acquire distribution and light manufacturing companies, thereby achieving greater economy of scale and improved operating results through consolidation.
 -0- 4/30/93
 /CONTACT: Robert E. Cone, president and CEO, of Industrial Holdings, Inc., 713-650-6386/
 (IHII)


CO: Industrial Holdings, Inc. ST: Texas IN: SU: ERN

LR -- NY016 -- 3061 04/30/93 09:22 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 30, 1993
Words:230
Previous Article:FORSCHNER GROUP REPORTS RECORD SALESAND NET INCOME FOR THE FIRST QUARTER
Next Article:MEDAPHIS CORPORATION APPOINTS TIMOTHY J. KILGALLON EXECUTIVE VICE PRESIDENT -- OPERATIONS OF MEDAPHIS PHYSICIAN SERVICES CORPORATION
Topics:


Related Articles
BWIP HOLDING INC. ANNOUNCES 1991 EARNINGS AND SALES RESULTS
INDUSTRIAL HOLDINGS, INC. ANNOUNCES THIRD QUARTER RESULTS
Industrial Holdings, Inc. Announces First Quarter Results
Industrial Holdings, Inc. Announces Third Quarter Results
Industrial Holdings, Inc. Announces Second Quarter Results
Avalon Holdings Corporation Announces Third Quarter Results.
PR Newswire Southwest Summary, Tuesday, November 10, to 1:00 EDT.
PR Newswire Southwest Summary, Monday, Nov. 15, to 6:00 p.m. EST.
Burnham Holdings, Inc. Declares Dividends.
Burnham Holdings, Inc. Declares Dividends.

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