For TVI there is a lot of volume today.
Rick
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TVI Reports Higher Revenue and Earnings for Second
Quarter 1999
GLENN DALE, Md., Aug. 4 /PRNewswire/ -- TVI Corporation (OTC Bulletin Board: TVIN - news) announced
Wednesday that it had achieved higher revenues and earnings for the second quarter ended June 30. Second quarter
performance continued the improved profitability achieved in the first quarter.
Unaudited financial results for the six month periods ending June 30, 1999 and 1998 were as follows:
6 mos 1999 6 mos 1998
Revenue $868,593 $672,571
Cost of Goods 432,827 412,628
Gross Profit 435,766 259,943
S,G,& A Expense 347,058 334,561
Operating Income (Loss) 88,708 (74,618)
Other Income(Expense) 104,812 (313)
Interest Expense (14,257) (24,579)
Net Income (Loss) $179,263 ($99,510)
Allen Bender, TVI's president, expressed satisfaction with second quarter performance. ''This performance demonstrates,''
he said, ''that we have a viable product line and production capability.'' He noted that the company continued to emphasize
its marketing effort during the second quarter. Additional details are contained in Form 10-QSB submitted to the SEC and
available from EDGAR on the Internet.
The company reported that it obtained a five percent equity interest in Falcon Systems Engineering, a small private start-up
information technology consulting and engineering firm. The interest was acquired in exchange for office space and various
support services. The company believes there will be long-term benefit and potential in the relationship.
The company reported that the proposed acquisition of the Internet company in Las Vegas by another firm is still pending.
TVI holds a debt and equity interest in the company as reported in its April 6, 1999 press release. The proposed acquisition
was previously reported at the Annual Shareholders meeting.
TVI's common stock trades on the OTC Bulletin Board under the symbol TVIN. Product and corporate information may be
viewed at its Internet Home Page at www.tvicorp.com. |
