Printer Friendly

NORTH ATLANTIC TECHNOLOGIES, INC. REPORTS FIRST QUARTER PERFORMANCE

 MINNEAPOLIS, April 28 /PRNewswire/ -- North Atlantic Technologies, Inc. (NAT) today reported income for its first quarter ended March 31, 1993 of $4,724 compared with income of $150,020 or $.08 per share reported for the same period in 1992. Income amounts are net of tax loss carryforward benefits.
 Sales for the first three months of 1993 were $1,441,682 compared with $1,920,769 in first quarter 1992.
 The company's annual shareholder's meeting will be held at the Omni Northstar Hotel, North Ballroom, 618 Second Avenue South in Minneapolis on Wednesday, May 5 at 3:30 p.m.
 NAT manufactures heat recovery systems which it sells worldwide to industrial companies for energy recovery and environmental control applications. Its headquarters are in Bloomington, Minn., and its manufacturing facilities are in St. Paul, Minn. The common stock of North Atlantic Technologies is traded in the local over-the-counter market.
 NORTH ATLANTIC TECHNOLOGIES, INC.
 Condensed Statement of Operations
 (000s except per share amounts)
 Three Months Ended
 3/31/93 3/31/92
 Sales $1,442 $1,920
 Cost of sales 980 1,318
 Gross profit 462 602
 Operating costs (389) (435)
 Other income (expense) (68) (14)
 Income before provision for income
 taxes and extraordinary item 5 153
 Provision for income taxes -- (55)
 Income before extraordinary item 5 98
 Extraordinary item, utilization of net
 operating loss carryforward -- 52
 Net income $5 $150
 Net income per common share:
 Income before extraordinary item Nil $.05
 Extraordinary item -- .03
 Net income Nil $.08
 Average common shares outstanding 2,435,853 1,984,721
 -0- 4/28/93
 /CONTACT: David Paulin, chief financial officer of North Atlantic Technologies, 612-888-8553/


CO: North Atlantic Technologies, Inc. ST: Minnesota IN: SU: ERN

AL -- MN014 -- 2249 04/28/93 16:23 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 28, 1993
Words:291
Previous Article:DIGI INTERNATIONAL INC. REPORTS SECOND QUARTER 1993 SALES AND EARNINGS
Next Article:FISHER AUDIO/VIDEO OFFERS FIRST CAMCORDER WITH COLOR MONITOR/REMOTE CONTROLLER
Topics:


Related Articles
NORTH ATLANTIC TECHNOLOGIES REPORTS FOURTH QUARTER PERFORMANCE
NORTH ATLANTIC INDUSTRIES REPORTS NINTH CONSECUTIVE RECORD QUARTERLY RESULTS
NORTH ATLANTIC TECHNOLOGIES REPORTS SECOND QUARTER PERFORMANCE
NORTH ATLANTIC TECHNOLOGIES REPORTS THIRD QUARTER PERFORMANCE
NORTH ATLANTIC TECHNOLOGIES, INC. REPORTS FIRST QUARTER PERFORMANCE
NORTH ATLANTIC TECHNOLOGIES, INC. REPORTS SECOND QUARTER PERFORMANCE
NORTH ATLANTIC TECHNOLOGIES, INC. REPORTS THIRD QUARTER PERFORMANCE
NORTH ATLANTIC TECHNOLOGIES, INC. REPORTS FIRST QUARTER PERFORMANCE
NORTH ATLANTIC TECHNOLOGIES REPORTS SECOND QUARTER RESULTS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters