Berger Holdings Ltd. Posts Record Revenue, Operating Income and Cash Flow
PHILADELPHIA--(BUSINESS WIRE)--Oct. 28, 1998--Berger Holdings
Ltd. (NASDAQ:BGRH) reported the best quarterly operating results in
the company's history.
Revenue for the third quarter ending Sept. 30, 1998 was
$10,273,223 vs. $5,878,929 for the comparable 1997 period, an increase
of 75%. EBITDA was $1,403,397 vs. $793,314, a gain of 77%. Operating
income before taxes was $661,670 vs. $408,447. Net income for the
quarter was $594,557 vs. $658,449 (which included a tax benefit of
$250,000) for the prior comparable period.
Theodore A. Schwartz, Chairman, C.E.O., stated, " During the
first nine months of 1998 we not only completed our first major
acquisition, we also built our infrastructure to accommodate future
acquisitions and a substantially larger revenue base. We are
particularly pleased that we have accomplished this while achieving
record operating income and cash flow from operations."
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