Berger Holdings, Ltd. Reports Record First Half Revenue And EBITDA Per Share
PHILADELPHIA--(BUSINESS WIRE)--Aug. 14, 2000--Berger Holdings,
Ltd. (NASDAQ:"BGRH") reports second quarter and six month operating
results for the period ending June 30, 2000.
Quarter Ending June 30: Six Months Ending June 30:
----------------------- -------------------------
2000 1999 2000 1999
Revenue $11,938,253 $11,091,149 $20,812,739 $19,299,131
Operating
income $ 1,021,159 $ 1,246,186 $ 1,518,722 $ 1,644,035
Net income
before taxes $ 573,445 $ 789,157 $ 669,210 $ 716,660
Provision for
income tax (1) $ 275,254 $ 284,096 $ 321,214 $ 258,096
Net income $ 298,191 $ 505,061 $ 347,996 $ 458,564
Basic shares 5,403,645 5,525,529 5,429,891 5,516,666
Basic income
per common
share $ .06 $ .09 $ .06 $ .08
Diluted number
of common
shares 7,037,308 7,439,078 6,949,278 7,525,901
Earnings per
diluted common
share $ .05 $ .08 $ .06 $ .08
EBITDA $ 1,677,700 $ 1,715,564 $ 2,663,201 $ 2,589,021
EBITDA per
basic share $ .31 $ .31 $ .49 $ .47
EBITDA per
diluted share $ .24 $ .23 $ .38 $ .34
(1) The Company has an approximate $5.2 million Federal tax loss carry
forward.
Mr. Theodore A. Schwartz, Chairman and CEO of the Company, stated,
"Our cash generated from operations (EBITDA) for the six months ended
June 30, 2000 was $.49 per basic share outstanding. We anticipate that
Copper Craft, Inc., which was acquired on March 31, 2000, will have a
positive impact on revenue and net income for the balance of the year.
Furthermore, revenue from Berger's core business is historically
stronger during the second half of the year."
He further stated, "Our previously announced 540,000 stock
repurchase program as of today has now resulted in over 300,000 shares
being acquired on the open market. We intend to continue taking steps
to reduce our overall capitalization while continuing to grow the
Company both internally and through strategic acquisitions." |
