Printer Friendly

Peerless Tube Company Announces Quarter Ended September 30, 1996 Financial Results

BLOOMFIELD, N.J., Nov. 21 /PRNewswire/ -- Peerless Tube Company (OTC Bulletin Board: PLSU) announced today that it has filed its Quarterly Report form with the Securities and Exchange Commission. The Company reported a net loss for the quarter ended September 30, 1996 of $92,000 on sales of $5,261,000, compared to a net loss for the quarter ended September 30, 1995 of $429,000 on sales of $7,072,000. The net loss per share for the quarter ended September 30, 1996 was $.04 compared with a net loss of $.17 for the quarter ended September 30, 1995. For the nine months ended September 30, 1996 the Company reported a net loss of $591,000 on sales of $18,169,000, compared to a net loss for the nine months ended September 30, 1995 of $1,314,000 on sales of $22,916,000. The net loss per share for the nine months ended September 30, 1996 was $.24 as compared to a net loss of $.53 per share for the nine months ended September 30, 1995.
 PEERLESS TUBE COMPANY
 Consolidated Statements
 Operations
 For the quarter ended September 30, 1996
 1996 1995 1996 1995 %
 % sales % sales Change
 Net Sales $5,261,000 $7,072,000 100.0% 100.0% -25.61%
 Cost of Sales 4,653,000 6,745,000 88.4% 95.4% -31.02%
 Gross profit on sales 608,000 327,000 11.6% 4.6% 85.93%
 Selling and general (608,000) (677,000) -11.6% -9.6% -10.19%
 Interest Expense (208,000) (199,000) -4.0% -2.8% 4.52%
 Other income, net 105,000 120,000 2.0% 1.7% -12.50%
 Net (loss) income (103,000) (429,000) -2.0% -6.1% -75.99%


Net (loss) income
 per share ($0.04) ($0.17) -- -- --
 For the nine months ended September 30, 1996
 1996 1995 1996 1995 %
 % sales % sales Change
 Net Sales $18,169,000 $22,916,000 100.00% 100.00% -20.71%
 Cost of Sales $16,184,000 $21,780,000 89.07% 95.04% -25.69%
 Gross profit on sales $1,985,000 $1,136,000 10.93% 4.96% 74.74%
 Selling and general ($2,070,000) ($2,289,000) -11.39% -9.99% -9.57%
 Interest Expense ($618,000) ($638,000) -3.40% -2.78% -3.13%
 Other income, net $101,000 $477,000 0.56% 2.08% -78.83%
 Net (loss) income ($602,000) ($1,314,000) -3.31% -5.73% -54.19%


Net (loss) income
 per share ($0.24) ($0.53) -- -- -- SOURCE Peerless Tube Company
 -0- 11/21/96


/CONTACT: George Blumenschein of Peerless Tube Company, 201-743-5100, or fax, 201-743-6169/

(PLSU)

CO: Peerless Tube Company ST: New Jersey IN: MNG SU: ERN

MW-MA -- NYTH139 -- 5617 11/21/96 17:16 EST http://www.prnewswire.com
COPYRIGHT 1996 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 21, 1996
Words:469
Previous Article:Trico Marine Services Announces Public Offering Of Common Stock
Next Article:ArgentBank Selects Peerless For Check Image Solution

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