FAME-6 11/32 and very fundamentally sound
Not a dot.com, but they have investments in some and are sitting on SIZEABLE unrealized gains. History of dividends, splits, and spin-offs
I'm anticipating a bonus coming soon. Just a hunch
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Flamemaster Reports Over 67% Gain in Earnings On 16.1% Jump in Revenue for 1999 Fiscal Year
SUN VALLEY, Calif., Dec. 8 /PRNewswire/ -- Flamemaster Corporation (Nasdaq: FAME - news) reported net income of $876,396 on revenues of $4,679,695 for the year ended September 30, 1999. In the prior year earnings were $523,308 on revenues of $4,029,706. Per share results were $.54 basic and $.52 fully diluted in 1999 vs. $.32 in 1998.
For the 4th quarter revenues were $1,234,873 a rise of 6.1% compared to $1,163,383 in 1998. Net income expanded to $183,939 in the 4th quarter nearly double the prior year's quarter. Per share results for the period were $.12 basic vs. $.06 in 1998.
The increase in revenues and earnings are a result of introduction of new high performance sealant products and an expanded customer base.
The Company's financial condition is strong with current assets of $5,849,532 compared to current liabilities of $131,040 for a current ratio of 44.6 to 1 at September 30, 1999.
Flamemaster Corporation is a specialty chemicals manufacturer servicing the aerospace and defense industries with high performance aircraft sealants and coatings.
Flamemaster holds an 18% interest in PerfectData Corporation (Nasdaq: PERF - news) and modest stakes in Staruni (OTC Bulletin Board: SRUN - news), The Hartcourt Companies (OTC Bulletin Board: HRCT - news), El Guapo Foods, and Cohesant Technologies (Nasdaq: COHT - news).
The release herein may contain or identify a forward looking statement. These statements are based on a number of assumptions and estimates which are inherently subject to uncertainty and contingencies, many of which are beyond the control of the Company and reflect future business decisions which are subject to change.
12 Months 12 Months Three Months Three Months
Fiscal Year Fiscal Year Ended Ended
9-30-99 9-30-98 9-30-99 9-30-98
Revenues $4,679,695 $4,029,706 $1,234,873 $1,163,383
Income before
taxes 1,465,826 851,459 340,051 255,475
Income taxes 589,430 328,151 156,112 160,367
Net income 876,396 523,308 183,939 95,108
Net income
per share $.54 $.32 $.12 $.06
SOURCE: Flamemaster Corporation |
