TVI Corporation Reports Continued Profitable Operations for Third Quarter
GLENN DALE, Md.--(BUSINESS WIRE)--Nov. 15, 2001--TVI Corporation released Thursday its financial reports for the third quarter of 2001, reporting continued increased revenues and profitable operations.
Unaudited results for the three and nine month periods ending September 30, 2001 and 2000 were as follows:
2001 2000
---- ----
Total Revenue $ 909,950 $ 2,935,866 $ 913,365 $ 2,417,050
Cost of Goods 482,260 1,507,100 561,537 1,250,692
Gross Profit 427,690 1,428,766 351,827 1,166,358
S,G,&A Expense 284,547 896,882 199,597 632,138
Operating Income 143,143 531,884 152,230 534,220
Interest Expense (2,601) (13,168) ( 9,568) (16,741)
Other Income
(Expense) 0 0 0 105,086
Net Income $ 140,542 $ 518,716 $ 142,661 $ 622,566
Shares
Outstanding 25,496,035 25,496,035 24,527,493 24,527,493
Earnings per
Share .0055 .0203 .0058 .0254
Allen Bender, CEO of the company, noted that revenues and profits had continued at the expected level for the third quarter and were consistent with budgeted goals. Based upon current backlog he said that the company should meet its revenue and profit objectives for the year.
Mr. Bender noted a small disruption in production during September as a result of the terrorist attack on the Pentagon. As noted in the company's previous press release, the company supported rescue and recovery operations with several shelters and with on site maintenance and training. Some orders scheduled for delivery in September were postponed, and were delivered in October.
Mr. Bender noted that interest in the company's shelter products remains high, and that there has been increased interest in its decontamination products since the September 11 atrocities. Several demonstrations have been made, and numerous product inquiries have been received. The company is preparing for a higher order flow in the coming year.
TVI is a leading manufacturer of quick erect tents and signage, casualty decontamination systems, and thermal targets in its 25th year of operations. Its stock trades on the OTC Bulletin Board under the symbol TVIN. More information is available at the company's website at www.tvicorp.com.
CONTACT:
TVI Corporation, Glenn Dale
Allen Bender, 301/352-8800
KEYWORD: MARYLAND DISTRICT OF COLUMBIA
BW2415 NOV 15,2001
7:22 PACIFIC
10:22 EASTERN |
