Q1 (ending 9/30/97) sales were $2.6m v. Q4 (ending 6/30/97) sales of $1.8m v. Q1 (ending 9/30/96) of $1.5m
Alanco Reports First Quarter Results
BusinessWire, Tuesday, October 21, 1997 at 09:50
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Oct. 21, 1997--
Revenue, Operating Income Jump; Per Share Loss Narrows Sharply
Alanco Environmental Resources Corp. (NASDAQ:ALAN) Tuesday
reported sharply higher revenue for the first quarter ended
Sept. 30, 1997, as well as a major positive shift in operating
income for the quarter.
Sales for the quarter of $2,606,357, a record for the company,
compared to $1,503,857 for the same quarter a year earlier.
Alanco reported another company first, with positive income from
operations of $13,466 for the quarter. That compares with a loss
from operations of $341,157 for the quarter a year earlier. Net
loss from continuing operations for the quarter of $51,083, or
$0.001 per share, compares to a loss of $350,569, or $0.01 for the
period a year ago.
Edward J. Maley, president and chief executive officer of
Alanco, said, "I would particularly like to call our shareholders
attention to net cash provided by our operations. We have gone from
a negative cash flow of $395,000 for the quarter a year ago, to a
positive cash flow of $254,000 this quarter. This is an impressive
positive swing of $649,000 for the first quarter."
"The first quarter is indicative of the direction Alanco is
headed this new fiscal year," said Maley. "Although the results
represent a dramatic improvement, we want our shareholders to know
we have only begun. We have a great deal of work and opportunity
ahead in the food services and environmental divisions."
Maley attributed most of the revenue growth to the company's Fry
Guy food services segment.
"Fry Guy accounted for 76 percent of our revenue growth. We see
room for substantial continued growth in Fry Guy in the months
immediately ahead, as well as in our environmental segment," said
Maley. "While our loss per share has been cut dramatically, the
important point is the speed at which we are closing in on
profitability."
In September, Alanco announced it had established a working
capital line of credit to supplement the improving cash flow.
*T
Alanco Environmental Resources Corp.
Consolidated Statement of Operations
For the Three Months Ended Sept. 30, 1997
Sept. 30
1997 1996
Total sales $2,606,357 $1,503,857
Net loss $(51,083) $(485,809)
Net loss per share ($0.001) ($0.01)
Weighted average common
share outstanding 35,346,527 33,364,278
*T
CONTACT: Alanco Shareholder Relations, 602/607-1010
KEYWORD: ARIZONA
INDUSTRY KEYWORD: ENVIRONMENT ENMED FOODS/BEVERAGES EARNINGS
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