Yikes! Earnings are out...
I don't know what this will do to ALAN today. But I substantially decreased my exposure to ALAN yesterday by unloading my higher priced shares and taking a nice tax loss. Things were just starting to smell too funny to me. Salubre delays, Harbinger unrest, CEO stepping down, Tim's whisper number, and STILL no poppers in Marietta, OH.
I either did an "Ooops" or an "O'Lay!" Guess I'll find out today.
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SCOTTSDALE, Ariz--(BUSINESS WIRE)--April 30, 1997--Alanco
Environmental Resources Corp. (NASDAQ:ALAN) Wednesday reported
record revenue of $1,791,181 for the third quarter ended
March 31, 1997, and a net loss of $897,755 or $0.03 per share,
compared to revenue of $974,085 for a loss of $1,048,588 or $0.03 per
share for the same quarter a year earlier.
Dennis Schlegel, chairman and chief executive officer of ALANCO
said, "Our first priority is revenue growth. We are pleased to
report substantial top line revenue growth of 83 percent over the
quarter a year earlier, much of which comes from our Fry Guy
division. Our revenue for the nine months of the current fiscal year
already surpasses total revenue for the entire previous fiscal
year."
For the nine months ended March 31, 1997, ALANCO reported a net
loss of $1,734,138, or $0.05 per share on revenue of $5,226,629.
That compares with a net loss of $2,243,831, or $0.07 per share on
revenue of $3,855,256 for the third quarter a year ago.
"Now that we have the food services division on a solid growth
track, the board and I are looking closely at subsidiaries that are
not adequately contributing to our growth," said Schlegel.
"While the Fry Guy program continues to expand, we did encounter
a delay in introducing it to the independent marketplace," said
Schlegel. "The program with Salubre Foods has now gotten underway
and is beginning to grow nicely. But that initial delay coupled
with losses in the insurance division render projections made by
prior management inoperative.
"We intend to let our relationship with Salubre develop and
pursue additional opportunities for the Fry Guy program before
issuing any updated projections."
-0-
*T
Alanco Environmental Resources Corp.
Consolidated Statement of Operations
For the Three Months Ended March 31, 1997
March 31
1997 1996
Total sales $1,791,181 $974,085
Net loss $(897,756) $(1,048,588)
Net loss per share ($0.03) ($0.03)
Weighted average common
share outstanding 34,765,533 32,403,029
For the Nine Months Ended March 31, 1997
March 31
1997 1996
Total sales $5,226,629 $3,855,256
Net loss $(1,734,138) $(2,243,830)
Net loss per share ($0.05) ($0.07)
Weighted average common
share outstanding 33,982,095 31,334,310
*T
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CONTACT:
Alanco Environmental Resources Corp., Scottsdale
Alanco Shareholder Relations, 602/607-1010 |
