I have follwed this company for years and it looks like they are turning things around...this release just out shows a substatial increase in backlog plus a positive 6 cents this qtr on a solid rise in revenue. Stock is trading at .10/.20 on OTC BB...used to be on AMEX. Present backlog is over $5.5m compared to under $2m last May.
Spread should tighten w/vol. Do your own dd. Filings avail on Edgar...gpg
General Kinetics Announces Quarterly Results
CHANTILLY, Va., April 15 /PRNewswire/ -- General Kinetics Incorporated (OTC
Bulletin Board: GKIN - news) announces the following results of operations for the quarter and nine months ended February
28, 1999:
Quarter Ended Quarter Ended
Feb. 28, 1999 Feb. 29, 1998
(Unaudited) (Unaudited)
Revenues $2,215,500 $1,821,200
Operating income 169,300 67,700
Net income 122,400 9,100
Diluted Earnings per share $0.006 $0.001
Nine Months Ended Nine Months Ended
Feb. 28, 1999 Feb. 28, 1998
(Unaudited) (Unaudited)
Revenues $4,661,900 $4,763,000
operating income (loss) (79,400) 131,200
Income (loss):
Before extraordinary item (212,400) (55,300)
Extraordinary item 67,000 --
Net income (loss) (145,400) (55,300)
Diluted Earnings per share:
Before extraordinary item (0.03) (0.01)
Extraordinary item 0.01 --
Diluted Earnings per share $(0.02) $(0.01)
During the third quarter of fiscal 1999 the Company realized net income of $122,400 on sales of approximately $2.2 million, as
compared to a net income of $9,100 on sales of approximately $1.8 million in the third quarter of the prior fiscal year. The
Company reported that its contract backlog has increased from approximately $1.9 million at May 31, 1998 to approximately
$5.5 million at February 28, 1999.
Larry M. Heimendinger, Chairman of the Board of GKI, observed that the Company is encouraged by the third quarter results
and substantial increase in contract backlog, and is hopeful that the increase will be reflected in revenues for the remainder of
the fiscal year.
General Kinetics Incorporated, headquartered in Chantilly, Virginia, designs, produces and markets Precision Electronic
Enclosures.
SOURCE: General Kinetics Incorporated |
