VALH.. Huge earnings just out->
September 15, 2000 10:37
Value Holdings, Inc. Third Quarter Revenues Increase to $35.7 Million; Net Income is $1.4 million
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MIAMI--(BUSINESS WIRE)--Sept. 15, 2000--Value Holdings, Inc. (OTCBB:VALH) today announced revenues of $35,747,588 for the quarter ended July 31, 2000. Net income for the quarter was $1,438,912. This financial information was provided in the company's filing on Form 10-QSB filed with the Securities and Exchange Commission.
For the nine months ended July 31, 2000 Value Holdings' revenues were $90,495,350 and net income was $4,163,815 or approximately $.03 per share. For the same period in 1999, revenues were $24,716,991 and net income was $1,434,904 or approximately .015 per share. Shareholders' equity rose to $4,900,479.
Net income for the third quarter ended July 31, 2000 includes a gain of $1,130,833 on the sale of the company's Cami's Seafood and Pasta license agreements and associated assets. Revenue and earnings figures do not include any revenue or earnings related to Cutler Forest Products or Seabright Wood Fabricators Limited, which were both acquired during the company's fiscal fourth quarter.
"We are pleased with our third quarter results," said Robert Ziner President and CEO of Value Holdings. "Despite low lumber prices we have continued to increase sales and maintain profitability. During the coming quarter we intend to integrate Cutler Forest Products and Seabright Wood Fabricators so as to realize increased margins from their product lines. We continue to implement our growth strategy and achieve our business goals. The diversification of our product line and our addition of higher margin products, such as those from Cutler, Seabright and ABS Woodworking, will decrease our susceptibility to fluctuations in the price of lumber."
Value Holdings, Inc. is a holding company formed to acquire businesses. The corporate goal is to build well-run independent subsidiaries which have solid market niches with compounded growth rates in terms of revenues and earnings.
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Forward-looking statements involve the known and unknown risks and uncertainties which may cause the company's actual results in future periods to differ materially from what is anticipated. Such statements include such words as (3)expect(2) and (3)anticipate(2).
Value Holdings, Inc. (OTCBB:VALH)
Results for the Quarter Ended July 31, 2000
With Comparative Data For The Quarter Ended July 31, 1999
For the Quarter Ended For the Quarter Ended
July 31, 2000 July 31, 1999
Revenues $35,747,588 $15,781,418
Earnings before
interest, taxes,
amortization and
depreciation 1,355,040 1,385,795
Net Income 1,438,912 971,783
Earnings Per Share (Basic) .009 .009
Earnings Per Share (Diluted) .009 .008
Value Holdings, Inc. (OTCBB:VALH)
Results for the Nine Months Ended July 31, 2000
With Comparative Data For The Nine Months Ended July 31, 1999
For the Nine Months Ended For the Nine Months Ended
July 31, 2000 July 31, 1999
Revenues $90,495,350 $24,716,991
Earnings before
interest, taxes,
amortization and
depreciation 5,762,268 2,206,206
Net Income 4,163,815 1,434,904
Earnings Per Share (Basic) .031 .015
Earnings Per Share (Diluted) .029 .014
CONTACT: Gemini Integrated Financial Services Corp., Aventura, Fl.
For Value Holdings, Inc.
Jon Leinwand, 305/937-3062 |
