Waterlink (WLK) Earnings coming out tuesday... projected 600% increase in EPS this last quarter. Stochastic, CCI Breakout today...In at 16 3/4.
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CANTON, OHIO (Oct. 29) BUSINESS WIRE -Oct. 29, 1997--Waterlink, Inc. (NYSE:[WLK]) announced today that its quarterly operating results increased substantially from the prior year. Year-end results, before previously announced charges related to its recently completed initial public offering, also improved dramatically from the prior year.
Net sales for the year and quarter ended September 30, 1997 were $64.7 million and $23.7 million, an increase of $44.9 million and $17.1 million, respectively, from the prior year. For the year ended September 30, 1997, Waterlink recorded net income of $0.29 per common share before the special management compensation charge and the extraordinary item discussed below, as compared to $0.05 per common share last year. For the quarter, Waterlink reported net income of $0.10 per common share as compared to $0.08 last year.
These increases are the result of Waterlink"s acquisition strategy as well as internal growth achievements.
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Brantley Capital Corporation (Nasdaq: BBDC), a business development corporation,....talks about their investment in WLK:
"The most significant portion of our assets are dedicated to private equity investing which often takes time to execute a transaction and build equity value. But we believe, our investments have performed exceptionally well over the past six months," stated Robert P. Pinkas, Chairman and Chief Executive Officer. "Our first investment was Waterlink, Inc. (NYSE: [WLK]) (a New York Stock Exchange listed company) of which we currently hold warrants to purchase 26,250 shares of common stock at an exercise price of $4.50 per share. Waterlink, Inc. completed its Initial Public Offering on June 27, 1997, and has a current market price of $18.00. In addition, we have also committed $4.95 million to purchases of private equity and equity linked debt securities in Fitness Quest, Inc., Corporate Wings, Inc. and Health Care Solutions, Inc. All of these companies represent outstanding acquisition based investments." |
