I think Sparky is the only person I've seen go from strong sell to strong buy in < 24 hours. A nice earnings release for BARR to say the least. Looks like BARR posted $0.31 / $0.92 per share for 4Q / FY 1997 respectively. Per Yahoo finance, consensus was $0.24 4Q / $0.84 FY. Beat the 4Q estimate by 25%. Not bad.
Here's to watching those short sellers sweat it out today. However, we've seen good news not budge BARR at all in the last few months so we'll see how the weaker technicals can hold up today.
Here's the release:
Barringer Technologies Announces Record Fourth Quarter and Year-End Results
MURRAY HILL, N.J.--(BUSINESS WIRE)--Feb. 19, 1998--Barringer Technologies Inc. (Nasdaq: BARR - news, BARRW - news), a leading developer, manufacturer, and marketer of drugs and explosives detection equipment, today announced its results for the fourth quarter and year ended December 31, 1997.
For the quarter, revenues increased by 106% to $7.3 million, compared with $3.6 million in the fourth quarter of 1996. Net income increased by 104% to $1.9 million, compared with $951,000 in the year-ago quarter. Diluted earnings per common share rose to $0.31 from $0.18 in the comparable 1996 period, on a 16.1% increase in shares outstanding due to the Company's November 1996 public offering.
For the year, revenues increased by 108% to $22.7 million, compared with $10.9 million in 1996. Net income increased by 179% to $5.8 million, compared with $2.1 million in 1996. Diluted earnings per common share rose to $0.92 from $0.46 in 1996, on a 40.9% increase in shares outstanding. |
