WTBK 1.63:
B: Westerbeke Reports Third Quarter Results
B: Westerbeke Reports Third Quarter Results
TAUNTON, Mass., Sep 9, 2002 (BUSINESS WIRE) -- Westerbeke Corporation
(NASDAQ:WTBK) announced today the results of its operations for the third fiscal
quarter ended July 27, 2002.
Net sales for the quarter ended July 27, 2002 were $7,783,900 compared to
$6,760,500 for the quarter ended July 28, 2001, an increase of 15%. The Company
reported net income of $370,800, or $0.19 per share for the quarter ended July
27, 2002, as compared to net income of $83,100 or $0.04 per share for the
quarter ended July 28, 2001.
For the nine months ended July 27, 2002, net sales were $19,887,000 as compared
to $22,369,700 for the nine months ended July 28, 2001. The Company reported net
income of $432,500 or $0.22 per share for the nine months ended July 27, 2002,
as compared to net income of $114,100 or $0.06 per share for the nine months
ended July 28, 2001. Included in net income, as a reduction of income taxes, for
the nine-months ended July 27, 2002 is a $353,700 credit for research and
development expenditures. Included in net income for the nine-months ended July
28, 2001 is a gain of $552,800 from the sale of the Company's former Avon
facility. |
