IMPL (formerly IPII) had nice numbers after the bell. I also like the CEO comments about improved efficiencies and expanded capacity soon.
Imperial Announces 2004 Results
Wednesday March 30, 3:38 pm ET
POMPANO BEACH, Fla., March 30 /PRNewswire-FirstCall/ -- Imperial Industries, Inc. (OTC Bulletin Board: IMPL - News; formerly "IPII") announced today results of operations for the year ended December 31, 2004.
The Company generated net income in 2004 of $2,466,000, or $1.02 per fully diluted share (after adjusting for the reverse stock split effective March 23, 2005), compared to $640,000, or $.28 per fully diluted split adjusted share for 2003, a per share increase of 264.2%. Net sales in 2004 were $55,268,000, compared to $41,069,000 in 2003, an increase of 34.6%. The sales increase was principally due to higher demand for Company products because of greater strength in the new housing and construction markets in the Company's trade areas compared to last year, in combination with market share gains. The increase in sales, together with greater operating efficiencies, resulted in increased operating profits in 2004 compared to 2003.
CEO: "The Company is nearing completion of a major capital improvement project to expand and enhance the production capabilities of its Winter Springs (greater Orlando area), Florida manufacturing facility. We anticipate this facility will be fully operational with its upgrades in the second quarter of 2005 and will create improved operating efficiencies and increase capacity for future profitable growth."
As previously announced, the Company implemented a one-for-four reverse stock split on March 23, 2005 in order to meet minimum per share market price requirements for an initial listing on the Nasdaq Small Cap Market. The Company is hopeful that the transition from the trading of its common stock from the OTC Bulletin Board to the Nasdaq Small Cap Market will be completed early in the second quarter of 2005.
siliconinvestor.com
iHub Post:
Posted by: tmcal6
In reply to: hweb2 who wrote msg# 7978 Date:3/30/2005 4:34:09 PM
Post #of 7993
IMPL. We should hear on listing in 3 to 4 weeks. Q1 earnings should be out by mid-May, a couple of weeks after we move to NasSC. Q1 earnings will have an easy quarterly comparison. Q2 will start to show impacts of efficiencies from new expanded facility. Now if the market maker could just get used to the post reverse split pricing and bring the bid/ask spread in to at least a dime or less. I think we will see double digits real soon.
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