Berger Holdings Ltd. Reports First Quarter Results and Record Sales for the Month of April
PHILADELPHIA--(BUSINESS WIRE)--May 7, 1998--Berger Holdings Ltd. (NASDAQ:BGRH) reports revenue of $7,014,455 for the first quarter ended March 31, 1998 vs. $4,499,323 for the comparable 1997 quarter.
This is an increase of $2,515,132. Net loss for the period was
($153,511) vs. net income of $164,424. *T -0- Quarter Ending March 31: 1998 1997
Revenue $7,014,455 $4,499,323 Net income (loss) (153,511) 164,424 Basic weighted average number of common shares 5,356,561 4,942,533 Basic income (loss) per common share ($.03) $.03 Fully diluted number of common shares 7,687,978 5,739,959 Net income (loss) per common share ($.03)(a) $.03
(a) The calculation of diluted earnings (loss) per share excludes 2,331,417 common share equivalents, since they are anti-dilutive in the current period. *T -0- Theodore A. Schwartz, chairman, CEO stated "Revenue was up 56% in the first quarter. As previously reported, net income was impacted by non-recurring start-up costs related to the acquisition of a major competitor on January 2, 1998."
Schwartz further commented "We anticipate record revenue and profits for the balance of the year as evidenced by the trend established during the month of April which had written sales of $3.4 million. This was an increase of 113% over the previous year and up 42% over the average daily sales during the first quarter of 1998." |
