METALCLAD CORP. REPORTS RESULTS
METALCLAD CORP. REPORTS RESULTS ANAHEIM, Calif., May 19 /PRNewswire/ -- Metalclad Corp.
(NASDAQ: MTLC) announced today that it experienced a net loss of ($41,000) for the first quarter of 1992 compared to a net loss of ($39,000) for the comparable period in 1991.
Revenues from continuing operations, derived principally from insulation contracting services and insulation material sales, were $4,638,424 for the first quarter of 1992 compared to $6,327,801 in the comparable period in 1991, a decrease of 26.7 percent. Contract costs and cost of material sales decreased to $4,679,769 in the first quarter of 1992 compared to $6,247,186 in the comparable period in 1991. The net loss per share in the first quarter of 1992 was ($.01) compared to a net loss per share of ($.01) for the first quarter of 1991. Metalclad Corp. is engaged in industrial insulation services and insulation material sales to customers primarily in California and Washington. The company is also engaged in the development of toxic and hazardous waste treatment facilities in Mexico. METALCLAD CORP. (Unaudited) Three Months Ended March 31, 1992 1991 Revenues $4,638,424 $6,327,801 Costs and expenses 4,679,769 6,247,186 Income (loss) from continuing operations before income taxes and extraordinary items (41,344) 80,615 Income taxes 0 32,000 Net income (loss) from continuing operations (41,344) 48,615 Income (loss) from discontinued operations 0 (87,972) Net income (loss) (41,344) (39,357) Net income (loss) per share ($.01) ($.01) -0- 5/19/92 /CONTACT: Grant S. Kesler of Metalclad, 714-634-9050, or Bruce H. Haglund, 714-752-6100/ (MTLC) CO: Metalclad Corp. ST: California IN: SU: ERN
AL-DM -- LA020 -- 2034 05/19/92 16:46 EDT
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|Date:||May 19, 1992|
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