KIDDIE PRODUCTS REPORTS SIX MONTHS SALES AND EARNINGS
KIDDIE PRODUCTS REPORTS SIX MONTHS SALES AND EARNINGS AVON, Mass., Aug. 13 /PRNewswire/ -- Kiddie Products, Inc.
(NASDAQ: KIDD) reported sales for the first six months of 1992 were $23,554,619 as compared to $18,887,421 for the similar period last year. Net income was $1,175,928 as compared to $907,051 for the first six months of 1991. Earnings per share, based on the average number of shares outstanding in each period (749,420 in 1992 and 1991), were $1.57 for the first six months of 1992 and $1.21 for the similar period last year.
Net sales and net income for the first six months of 1992 were the highest in the company's history. Sales from the introduction of new products, especially one new product, and expanded distribution in new and existing accounts have contributed to the growth. The company is expanding its business in foreign markets. To enhance our presence in Europe, the company has recently opened sales offices in England and France, developed multilingual packaging, and stocked with inventory a distribution site in Belgium. In connection with this expansion, the company has incurred, and will continue to incur, substantial start-up expenses throughout the year. KIDDIE PRODUCTS, INC. Interim Operating Report (Unaudited and subject to year-end adjustment) Six Months Ended June 30 1992 1991 Net Sales $23,554,619 $18,887,421 Income Before Taxes on Income 2,026,928 1,563,751 Provision for Taxes on Income 851,000 656,700 Net Income $1,175,928 $907,051 Earnings Per Share of Common Stock $1.57 $1.21 Average Number of Shares Outstanding 749,420 749,420 Three Months Ended June 30 1992 1991 Net Sales $11,734,524 $10,063,832 Income Before Taxes on Income 950,382 897,227 Provision for Taxes on Income 398,800 377,100 Net Income 551,582 520,127 Earnings Per Share of Common Stock 74 cents 69 cents Average Number of Shares Outstanding 749,420 749,420 -0- 8/13/92 /CONTACT: John Beals of Kiddie Products, Inc., 508-588-1220/ (KIDD) CO: Kiddie Products, Inc. ST: Massachusetts IN: REA SU: ERN
TM-CN -- NE019 -- 9821 08/13/92 16:32 EDT
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|Date:||Aug 13, 1992|
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