i read the annual report and letter to shareholders yest...i think you want to own this stock:
Hadron Reports 1st Quarter Profits
ALEXANDRIA, Va., Nov. 15 /PRNewswire/ -- Hadron, Inc. (OTC Bulletin Board: HDRN -
news) today announced the
financial results for the first quarter of its fiscal year 2001, ended September 30, 2000.
The Company reported an operating
profit of $136,000 and net income of $63,000 ($0.01 net income per share) versus an
operating loss of $358,000 and a net
loss of $451,000 (an $0.18 net loss per share) for the first quarter of fiscal 2000.
Hadron's earnings before interest, taxes,
depreciation and amortization (EBITDA) for the first quarter were $246,000. The
Company's profitability was achieved
through aggressive cost reductions combined with increased productivity of the
Company's technical and professional staff.
Hadron reported revenues of $4.7 million for the quarter ended September 30, 2000
versus revenues of $5.3 million for the
first quarter of the prior fiscal year. The decrease in revenues is primarily due to the loss
of billable staff due to the hiring of
certain of the Company's technical employees by a major customer partially offset by
additional revenue produced by the
Company's biowarfare defense operations.
``We are pleased with Hadron's continuing profitability, and we intend to establish
profitable operations as a baseline for the
Company,'' said Mr. Jon M. Stout, Hadron's President and Chief Executive Officer. ``As
Hadron's largest shareholder, I share
the goals and concerns of all of the Company's investors. The mid to long range (3-5
year) plans for the aggressive growth of
Hadron are our focus, and certain swings in short term quarter-to-quarter profits should
be anticipated as a necessary part of
this development process,'' he added. ``Hadron's shareholders' equity of nearly $2 million
underscores its renewed financial
strength, and our commitment to the Company's future,'' concluded Mr. Stout.
Hadron specializes in developing innovative technical solutions for the intelligence
community, analyzing and supporting defense
systems (including intelligent weapons systems and biological weapons defense), and
supporting complex computer systems.
The Company's stock trades on the OTC Electronic Bulletin Board under the symbol
HDRN. Hadron can be found on the
Internet at www.hadron.com. Hadron investor relations can be contacted at
703-329-9400 or via email at
agordon@hadron.com.
Hadron, Inc.
Selected Financial Data
(unaudited)
Three Months Ended
September 30,
2000 1999
Revenues $4,703,700 $5,306,600
Operating Income (Loss) 136,100 (357,700)
Net Income (Loss) 62,600 (451,300)
Net Income (Loss) Per Share:
Basic $.01 $(.18)
Diluted $.01 $(.18)
Weighted avg. # of shares:
Basic 5,916,209 2,492,299
Diluted 6,605,045 2,492,299
Sept. 30, 2000 June 30, 2000
(unaudited)
Total Shareholders' Equity $1,988,700 $1,535,400
Except for the historical information contained herein, this press release contains
forward-looking statements within the meaning
of Section 21E of the Securities and Exchange Act of 1934, as amended, that involve a
number of risks and uncertainties.
These forward-looking statements may be identified by reference to a future period by
use of forward-looking terminology such
as ``anticipate,'' ``expect,'' ``could,'' ``intend,'' ``may'' and other words of similar nature.
There are certain important factors and
risks that could cause results to differ materially from those anticipated by the statements
contained herein. Such factors and
risks include business conditions and growth in the information services, engineering
services, software development and
government contracting arenas and in the economy in general. Competitive factors
include the pressures toward consolidation
of small government contracts into larger contracts awarded to major, multi-national
corporations; and the Company's ability to
continue to recruit and retain highly skilled technical, managerial and sales/marketing
personnel. Other risks may be detailed
from time to time in the Company's filings with the Securities and Exchange Commission.
Hadron undertakes no obligation to
update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise. |
