Empire Resources Announces Third Quarter Operating Results
14 11월 2008 - 10:15PM
PR Newswire (US)
FORT LEE, N.J., Nov. 14 /PRNewswire-FirstCall/ -- Empire Resources,
Inc. (AMEX:ERS), a distributor of value added, semi-finished
aluminum products, today announced net income for the three and
nine months ended September 30, 2008 of $1,127,000 and $3,307,000
as compared to $537,000 and $4,073,000 for the same periods in
2007. Net income for the three and nine months ended September 30,
2008 was $.11 and $.33 per share on a fully diluted basis as
compared to $.05 and $.41 per share on a fully diluted basis for
the same periods in 2007. Net sales for the three and nine months
of 2008 were $124,510,000 and $347,803,000 as compared to
$109,907,000 and $366,528,000 for the same periods in 2007. Empire
Resources, Inc. is engaged in the purchase, sale and distribution
of semi-finished aluminum products to a diverse customer base
located throughout the United States and Canada, Europe, Australia
and New Zealand. The Company also manufactures prime aluminum
extruded products in its facility located in Baltimore, MD. Empire
Resources, Inc. distributes a wide range of semi-finished aluminum
products to customers in the distribution, transportation,
automotive, housing, appliance and packaging industries in the
U.S., Canada, Australia, New Zealand and Europe and maintains
supply contracts with aluminum mills in various parts of the world.
This press release contains forward-looking statements. Such
statements involve various risks that may cause actual results to
differ materially. These risks include, but are not limited to, the
ability of the company to grow internally or by acquisition and to
integrate acquired businesses, not being able to improve operating
margins and efficiencies, changing industry and competitive
conditions, and other risks referred to in the Company's
registration statements and periodic reports filed with the
Securities and Exchange Commission. (Table Follows) Unaudited
Condensed Consolidated Statements of Income In thousands, except
per share amounts Three Months Ended Nine Months Ended September
30, September 30, 2008 2007 2008 2007 Net sales $124,510 $109,907
$347,803 $366,528 Cost of goods sold 118,236 104,783 329,036
346,465 Gross profit 6,274 5,124 18,767 20,063 Selling, general and
administrative expenses 2,605 2,313 8,137 7,537 Operating income
3,669 2,811 10,630 12,526 Interest expense 1,897 1,955 5,354 6,062
Income before income taxes 1,772 856 5,276 6,464 Income taxes 645
319 1,969 2,391 Net income $1,127 $537 $3,307 $4,073 Weighted
average shares outstanding: Basic 9,818 9,790 9,823 9,790 Diluted
9,935 10,035 9,961 10,046 Earnings per share: Basic $0.11 $0.05
$0.34 $0.42 Diluted $0.11 $0.05 $0.33 $0.41 See Notes to Unaudited
Condensed Consolidated Financial Statements DATASOURCE: Empire
Resources, Inc. CONTACT: David Kronfeld, Empire Resources, Inc.,
+1-917-408-1940, Web site: http://www.empireresources.com/
Copyright
Empire Resources (AMEX:ERS)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Empire Resources (AMEX:ERS)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024