Berger Holdings Ltd. Reports Record Revenue; Will Add Two New Board Members
PHILADELPHIA--(BUSINESS WIRE)--Jan. 15, 1998--Berger Holdings Ltd. (NASDAQ:BGRH) reported record revenue of $20,752,000 for the year ended Dec. 31, 1997 vs. $19,746,000 for the year ended Dec. 31, 1996.
Berger also reported the addition of two new members to its board of directors. John Paul Kirwin III, a Principal of Argosy Investment Partners, LP and Odyssey Capital Group, LP, Wayne, Pa. based private investment funds.
Kirwin was formerly a partner at McCausland, Keen and Buckman. Also joining the board is Jay Seid, a managing director of Bachow and Associates, a Bala Cynwyd, Pa. based venture capital firm. Seid is also chairman of the board of VISTA Information Solutions Inc.
Joseph Weiderman, president and COO stated "This is the second consecutive year of record revenue and with the addition of our recently completed acquisition we anticipate that revenue in 1998 will approximate $40 million resulting in a substantial increase in net operating income."
Theodore A. Schwartz, chairman and CEO stated "The experience and knowledge of the two new board members will help strengthen our ability to achieve our long term growth objectives. They should also add to our exposure within the institutional investment community." |
