Tuesday October 17, 8:34 am Eastern Time
Press Release
All American Announces Record Earnings At $1.10 Per Share For The Quarter
Exceeding Analyst's Expectations By Over 30% Quarterly Revenues Up 72% from Prior
Year; Profitability Increases for Seventh Consecutive Quarter
MIAMI--(BUSINESS WIRE)--Oct. 17, 2000-- All American Semiconductor, Inc.
(Nasdaq:SEMI - news), a leading national distributor of electronic components, today
announced record sales and earnings results for the third quarter and first nine months of
2000.
Net sales for the quarter ended September 30, 2000 reached a record of $153 million,
up 72% from net sales of $89 million for the same period of 1999. Income from
operations was $10.6 million for the third quarter of 2000, compared to $2.2 million for
the third quarter of 1999. Net income for the quarter ended September 30, 2000 was a
record $4.7 million or $1.10 per share (diluted), up more than nine-fold from net income
of $502,000 or $.13 per share (diluted) for the third quarter of 1999.
For the first nine months of 2000, net sales were a record $386 million, up 61% from net
sales of $239 million for the first nine months of 1999. Income from operations was
$21.3 million for the first nine months of 2000, compared to $5.2 million for the same
period of 1999. Net income was $8.9 million or $2.15 per share (diluted) for the nine
months ended September 30, 2000, compared to $943,000 or $.24 per share (diluted)
for the same period of 1999. |
