Berger Holdings Ltd. Says Current Quarter Will be Best in the Company's 125 Year History
PHILADELPHIA--(BUSINESS WIRE)--June 29, 1999--Berger Holdings, Ltd. (NASDAQ:BGRH) will report at its annual meeting tomorrow that revenue for the second quarter ending June 30, 1999 will be approximately $11 million, which is the highest quarterly revenue in the company's history.
This is expected to result in all time record operating income and cash flow.
Theodore A. Schwartz, Chairman and CEO of the company, said, "We are now beginning to realize the accretive benefit of having acquired our two largest competitors during the last eighteen months."
He further stated, "While we continue to look for additional strategic acquisitions our strong cash flow allows us to reduce debt and, depending on market conditions, accelerate our previously announced stock repurchase program."
Berger Holdings, Ltd. is the parent company of Berger Bros Co. which was founded in 1874 and is a manufacturer of a complete line of roof drainage products specializing in copper as well as residential and commercial snow guards. All of the Company's products are used in new construction, remodeling and renovation markets. |
