Printer Friendly

RINGER ANNOUNCES SECOND QUARTER EARNINGS

 RINGER ANNOUNCES SECOND QUARTER EARNINGS
 MINNEAPOLIS, April 23 /PRNewswire/ -- Ringer Corporation


(NASDAQ: RING) today reported sales of $10,096,000 for its second fiscal quarter ended March 31, 1992, compared to $8,168,000 for the same period last year. It reported a net income for the quarter of $1,438,000 or $.16 per share compared to a net loss of $774,000 or $.11 per share for the same period last year.
 The loss in the second quarter a year ago included a nonrecurring charge of $1.4 million for expenses related to the voluntary recall of one of its pesticide products which is no longer being marketed.
 Total net sales for the six-month period ended March 31, 1992, were $13,104,000 compared to $9,496,000 for the same period a year ago. This represents a 38 percent sales increase for the first half of the fiscal year. Net income for the six months ended March 31, 1992, was $255,000 or $.03 per share compared to a net loss of $1,980,000 or $.32 per share for the same period last year.
 Commenting on second quarter performance, Udo E. Schulz, Ringer's president and chief executive officer, said, "Second quarter results reflect the company's strong Early Order program for its retail business segment. We are pleased with the gross margin improvements and operating expense controls which are evident in our second quarter financial performance. The company is well positioned to take advantage of the integration of the Ringer(R) and Safer(R) product lines and growing consumer awareness of environmental issues."
 Ringer Corporation is a developer and leading marketer of environmentally compatible, premium performance lawn and garden care products which are offered as alternative to synthetic chemical fertilizers and pesticides.
 RINGER CORPORATION
 CONDENSED FINANCIAL RESULTS
 (Dollars in thousands, except per-share amounts)
 Second Quarter Ended Six Months Ended
 3/31/92 3/31/91 3/31/92 3/31/91
 Net sales $10,096 $8,168 $13,104 $9,496
 Gross profit 6,130 4,610 7,619 5,237
 Net income (loss) before
 extraordinary item 1,366 (774) 183 (1,980)
 Extraordinary item (a) 72 -- 72 --
 Net income (loss) $1,438 $(774) $255 $(1,980)
 Income (loss per common share) $.16 $(.11) $.03 $(.32)
 (a) Utilization of net operating loss carryforwards.
 -0- 4/23/92
 /CONTACT: Mark Robinow of Ringer, 612-941-4180/
 (RING) CO: Ringer Corporation ST: Minnesota IN: CHM SU: ERN


AL -- MN007 -- 1939 04/23/92 13:24 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 23, 1992
Words:415
Previous Article:WASHINGTON STATE PATROL HOLDS NEWS CONFERENCE ON COMBINED ACCIDENT REDUCTION EFFORT
Next Article:LIFETIME PRODUCTS ANNOUNCES FIRST QUARTER RESULTS


Related Articles
RINGER ANNOUNCES YEAR END RESULTS
RINGER ANNOUNCES FIRST QUARTER RESULTS
RINGER ANNOUNCES PRELIMINARY APRIL AND MAY SALES RESULTS
RINGER ANNOUNCES THIRD QUARTER RESULTS
RINGER ANNOUNCES SECOND QUARTER EARNINGS
RINGER ANNOUNCES FIRST QUARTER RESULTS
RINGER ANNOUNCES SECOND QUARTER RESULTS
RINGER ANNOUNCES SECOND QUARTER RESULTS
Ringer Announces First Quarter Results
Ringer Reports Record First Quarter Results

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