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Tuesday April 28, 9:33 am Eastern Time
Company Press Release
Alanco Revenue, Profits Again Up Sharply
Third Quarter Results
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--April 28, 1998--Citing significant
growth in each of its operating divisions, Alanco Environmental
Resources Corp. (NASDAQ:ALAN - news) today reported sharply higher
revenue and earnings for the third quarter and the nine months ending
March 31, 1998.
Revenue for the quarter of $2,732,000, and net income of $309,000, or
$0.01 per share, compare to revenue of $1,744,000, and a loss of
$730,000, or $0.02 per share for the same quarter a year earlier.
For the nine months ended March 31, 1998, Alanco reported net income of
$461,000 or $0.01 per share on revenue of $7,952,000. That compares with
a net loss of $1,325,000, or $0.04 per share on revenue of $4,840,000
for the period a year ago.
Edward J. Maley, chief executive officer of Alanco, said, ''We are
pleased to report another quarter of consecutive profits for Alanco. In
fact we have posted a 52% increase in profits over the quarter ended
December 31.''
''Alanco has demonstrated substantial growth in each of its divisions
for the nine months this year over last,'' said Maley. ''Alanco
Environmental Manufacturing revenue is up 25%, Fry Guy revenue is up
107%, and environmental revenue for our CDSI operation is up 180%.''
''We expect to finish the fiscal year on a strong note, showing
additional revenue increases in the fourth quarter,'' said Maley. ''We
shipped eight CDSI systems in April, which will provide yet another
sharp boost to our environmental revenue in the fourth quarter. We also
expect continued substantial growth in the Fry Guy program as evidenced
by new machine orders already in hand for the next six months.''
Alanco's primary businesses are industrial air pollution control
technology and food services marketing. In November, Alanco announced an
agreement to install three of its Charged Dry Sorbent Injection (CDSI)
industrial air pollution control systems in the SINOPEC Lanzhou Chemical
Industry Corp. plant in Gansu Province, China. SINOPEC (China
Petrochemical Corp.) is China's largest refining and petroleum company.
Alanco's Fry Guy Inc. food services program operates in more than 1,300
Wal-Mart discount stores nationwide. In October, Alanco announced the
Fry Guy program was being introduced to select Wal-Mart Supercenter
locations. The Fry Guy Integrated Food Services Marketing Program
supplies a patented, self-ventilating fryer in a convenient counter top
unit that requires little shelf space and operates on 110-volt power.
Under the private label SGT.FRY, Fry Guy provides end users the finest
quality finger food products in conjunction with prominent food
suppliers as its strategic partners. Fry Guy participates in the food
revenue on a per order basis.
''Safe Harbor'' statement under the Private Securities Litigation Reform
Act of 1995: This release contains forward looking statements that are
subject to risks and uncertainties, including, but not limited to, the
impact of competitive products, product demand and market acceptance
risks, reliance on key strategic alliances, fluctuations in operating
results and other risks detailed from time to time in the company's
filings with the Securities and Exchange Commission. These risks could
cause the company's actual results for 1998 and beyond to differ
materially from those expressed in any forward looking statements made
by, or on behalf of, the company.
ALANCO ENVIRONMENTAL RESOURCES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
For the Three Months Ended March 31, 1998
(in thousands)
March 31
1998 1997
Total Sales $ 2,732 $ 1,744
Net Income $ 309 $ (730)
Net Income Per Share $0.01 ($0.02)
Weighted Average
Common Shares Outstanding 35,346,527 34,765,533
For the Nine Months Ended March 31, 1998
(in thousands)
March 31
1998 1997
Total Sales $ 7,952 $ 4,840
Net Income $ 461 $(1,325)
Net Income Per Share $0.01 ($0.04)
Weighted Average
Common Shares Outstanding 35,346,527 33,982,095
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Contact:
Alanco Shareholder Relations
Charles Goyette, 602/607-1010 |
