Looks like a typo to me. Not very professional! I wonder who proof read the release. The numbers add up to a 185,000 profit.
Here they are:
Three Months Ended March 31,
1997 1998
Net Sales 7,931,441 9,328,025
Cost of Goods Sold 7,336,134 6,160,631
Gross Net Profit 595,307 3,167,394
Operating Expenses:
Selling, Shipping and general and
administrative 2,389,244 2,792,310
Depreciation and amortization 44,677 82,687
Amortization of intangibles 7,161 106,649
2,461,082 2,981,846
Operating Income (Loss) (1,865,775) (185,548) <--- Should be 185,548 = 3,167,394-2,981,846
Other Income (Expenses) 103,687 (50,270)
Income (Loss) Before Income Tax Benefits (1,969,462) 135,278
Income Tax Benefits 748,000 445,889
Net Income (Loss) 1,669,007 536,167
Net Income (Loss) per common share $(0.23) $ 0.06
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