Berger Holdings, Ltd. Reports Break-even First Quarter 2002 Vs. a Loss of Four Cents for First Quarter 2001
PHILADELPHIA--(BUSINESS WIRE)--April 25, 2002--Berger Holdings,
Ltd. (NASDAQ:BGRH). Berger Holdings, Ltd. reported net income of $605
for the quarter ended March 31, 2002 vs. a loss of ($205,773) for the
quarter ended March 31, 2001.
Revenue for the first quarter ended March 31, 2002 was $9,853,171
vs. $10,224,362 for the comparable prior period. Historically, the
first quarter is the weakest of the year. Berger had previously
reported earnings of $.28 per share for the full year ended December
31, 2001.
Mr. Theodore A. Schwartz, Chairman and CEO of the Company, stated,
"We are continuing to increase efficiency and decrease cost as
evidenced by our EBITDA (earnings before interest, taxes, depreciation
and amortization) for the first quarter which was $916,421 vs.
$635,739 for the prior comparable period, an improvement of 44%." He
further stated, "During the first quarter, pursuant to our stock
repurchase program, we purchased 30,800 shares on the open market." |
