the turnaround begins
Berger Holdings, Ltd. Reports Record First Quarter Revenue and Cash Flow
PHILADELPHIA--(BUSINESS WIRE)--April 29, 1999--Berger Holdings,
Ltd. (NASDAQ: "BGRH") reported record first quarter revenue of
$8,207,982 for the period ended March 31, 1999 vs. $7,014,455 for the
quarter ended March 31, 1998, an increase of 17%.
Income from operations was $397,849 vs. $135,293, an increase of
194%. EBITDA was $873,456 vs. $634,688 for the comparable period. Net
loss per diluted share (removing proceeds from insurance recovery of
$118,701 in 1998) was (.01) vs. (.05). Due to seasonal factors the
first quarter is historically the Company's slowest.
Mr. Theodore A. Schwartz, Chairman, CEO stated, "We are very
pleased with our results and are confident that 1999 will be the
fourth consecutive year of record revenue. We also expect to be able
to report record cash flow and income from operations for the year."
He further stated, "The second quarter has had a strong start and we
see this trend continuing through the balance of the year." |
