Berger Holdings, Ltd. Reports Record First Quarter Results
PHILADELPHIA--(BUSINESS WIRE)--April 27, 2000--Berger Holdings,
Ltd. (NASDAQ: "BGRH") reported its best first quarter operating
results since becoming a public company.
Revenue for the quarter ended March 31, 2000 was $8,874,487 vs.
$8,207,982 for the quarter ended March 31, 1999, an increase of 8.12%.
Net after tax income was $49,805 vs. a loss of ($46,497) for the
comparable prior period. Cash generated from operations during the
quarter (EBITDA) was $984,362 or $.18 per basic share outstanding.
Mr. Joseph F. Weiderman, President of the Company, stated, "We are
very pleased that despite normal seasonal factors in our core market,
we have completed our best first quarter performance. This is a result
of a more diversified national exposure and an improved product mix.
We expect this improvement to both grow and continue throughout the
year. These results do not include the acquisition of Copper Craft of
Keller, Texas, which was completed on March 31, 2000 and will further
accelerate our growth in the Southwest."
Mr. Theodore A. Schwartz, Chairman and CEO of the Company, stated,
"We are hopeful that the recent shift of market sentiment toward old
economy "valued" investments will benefit our stock price. However, we
still intend to continue actively implementing our stock buy-back
program which we feel is an effective use of our growing cash flow." |
