Second quarter results
Pallet Pallet Inc PLT
Shares issued 30,241,611 Feb 3 close $0.10
Wed 4 Feb 98 News Release
Mr Timothy Fussner reports
For the second quarter, sales of $25,176,000 increased from the $24,109,000
reported in comparable period last year. Combined sales for the six month
period of $50,323,000 were slightly increased over the $49,858,000 reported
last year.
Earnings before interest, taxes, depreciation and costs associated with the
closing of the financial transaction improved to $735,000 in the second
quarter of this year compared to last year's comparable period of $599,000.
Earnings for the six month period of $1,484,000 before taxes, depreciation,
and loan closing costs were slightly less this year than the $1,617,000
reported for the comparable six months last year.
Costs associated with the closing of the financing transaction completed in
October were charged against earnings in the second quarter resulting in a
net loss of $2,708,000 compared to $308,000 in losses reported in the
second quarter last year. The net loss for the first six months of this
year after charging for the loan closing cost of $2,857,000 compares to
$144,000 in losses reported in the comparable period last year.
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