U.S. PLASTIC LUMBER CORP. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS
Three Months Ended June 30, 2003 and 2002
(Dollars in thousands except share and per share amounts)
----------- -----------
2003 2002
----------- -----------
Revenues, net: $ 9,708 $ 14,924
Cost of goods sold 8,897 12,036
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Gross Profit 811 2,888
Selling, General and Administrative 2,722 3,840
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Operating Loss (1,911) (952)
Other (expense) income (17) 114
Gain (loss) on sale of assets 4,326 (3)
Interest expense 531 3,253
Provision for income taxes - -
----------- -----------
Income (loss) from continuing
operations 1,867 (4,094)
Discontinued operations:
Income from operations discontinued
environmental recycling segment 350 419
----------- -----------
Income from discontinued operations 350 419
----------- -----------
Net Income (loss) $ 2,217 $ (3,675)
=========== ===========
Income (loss) per common share - Basic:
Loss from continuing operations $ 0.03 $ (0.09)
Income (loss) from discontinued
operations - 0.01
----------- -----------
Net loss per common share $ 0.03 $ (0.08)
=========== ===========
Income (loss) per common share - Diluted:
Loss from continuing operations $ 0.03 $ (0.09)
Income from discontinued operations - 0.01
----------- -----------
Income (loss) per common share $ 0.03 $ (0.08)
=========== ===========
Weighted average common shares outstanding -
Basic 64,451,743 44,322,988
Weighted average common shares outstanding -
Diluted 67,713,264 44,322,988
U.S. PLASTIC LUMBER CORP. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS
Six Months Ended June 30, 2003 and 2002
(Dollars in thousands except share and per share amounts)
----------- -----------
2003 2002
----------- -----------
Revenues, net: $ 20,924 $ 29,128
Cost of goods sold 19,424 23,083
----------- -----------
Gross Profit 1,500 6,045
Selling, General and Administrative 5,195 7,043
----------- -----------
Operating Loss (3,695) (998)
Other income (14) 180
Gain (loss) on sale of assets 4,410 (3)
Interest expense 1,117 6,567
Provision for income taxes - -
----------- -----------
Loss from continuing operations (416) (7,388)
Discontinued operations:
Income (Loss) from operations discontinued
environmental recycling segment 350 903
----------- -----------
Income (loss) from discontinued
operations 350 903
Net loss (66) (6,485)
Preferred dividends - (177)
----------- -----------
Net loss attributable to common stockholders $ (66) $ (6,662)
=========== ===========
Net Loss per common share - Basic and
diluted:
Loss from continuing operations $ (0.01) $ (0.18)
Income from discontinued operations 0.01 0.02
----------- -----------
Net loss per common share $ (0.00) $ (0.16)
=========== ===========
Weighted average common shares outstanding -
basic and diluted 64,440,273 42,684,834
=========== ===========
CONTACT: U.S. Plastic Lumber Corp., Boca Raton
Mark S. Alsentzer or Michael D. Schmidt, 561/394-3511
or
KCSA Worldwide, New York
Evan Smith, CFA or Erica Pettit
212/896-1251 or 212/896-1248 |
