Closed today at 1 5/8...here is 1st qtr released today, followed by last years numbers released this past December...trades Nasdaq...52wh 2 3/8, only 2.3m shares outstanding...company has been buying back shares:
gpg
Cohesant Technologies Reports Increased Sales and
Record Pre-tax Earnings For Fiscal 1999 First
Quarter
INDIANAPOLIS--(BUSINESS WIRE)--March 19, 1999--Cohesant Technologies Inc.
(Nasdaq:COHT - news) today reported increased sales and record first quarter pre-tax earnings.
For the quarter ending February 28, 1999, net sales increased 19% to $3,095,407 from $2,603,617 for the comparable
period last year. Pre-tax earnings increased 32%, to $224,333 from $169,706 during 1998. The Company had first quarter
net income of $141,330, or $.06 per common share, as compared to $169,706 or $.06 in the 1998 first quarter. The 1999
results reflect a provision for income taxes of $83,003. In the 1998 period, there was no provision for income taxes because of
utilization of a net operating loss carryforward for which a valuation allowance was previously recorded. The comparability of
net income per share is impacted by a reduction in the number of common shares outstanding in the 1999 period.
''Our Glas-Craft, Inc. subsidiary had a terrific first quarter with sales increasing over 41% over the 1998 period,'' said Dwight
D. Goodman, Cohesant's president and chief executive officer. ''Demand for its polyurethane coating and dispensing systems
was very strong, due in large part to new product offerings. Sales of specialty epoxy coatings by our Raven Linings subsidiary
declined due to completion of certain large projects in 1998 and delays by contractors on current projects for which Raven
products have been specified.''
''I believe that our growth should continue as we move on further into the fiscal year,'' Mr. Goodman added.
Cohesant Technologies Inc., based in Indianapolis, Indiana, designs, develops, and manufactures specialized spray finishing and
coating application equipment and specialty coating products through its two subsidiaries: Glas-Craft, Inc., and Raven Lining
Systems, Inc. Glas-Craft manufactures spray finishing and coating equipment for applying plural component materials such as
polyesters, polyurethanes, and epoxies. Raven Lining Systems, Inc., manufactures and sells AquataPoxy and the Raven line of
high-performance coating systems that are resistant to water and corrosive breakdown by most acids and solvents and can be
used in drinking water systems.
(Table follows)
Cohesant Technologies Reports Record Fiscal 1998
Fourth-Quarter and Year End Financial Results
INDIANAPOLIS--(BUSINESS WIRE)--Dec. 22, 1998--Cohesant Technologies Inc.
(Nasdaq:COHT - news) today reported record financial results for its fiscal 1998 fourth
quarter and full year, which ended November 30, 1998.
The company's net sales for the fourth quarter of fiscal 1998 increased 20 percent to $2,897,142 from $2,410,058 for the
comparable period last year. Income from continuing operations of $98,463, or $0.04 per share (basic and diluted), for the
quarter improved significantly when compared to income from continuing operations in last year's fourth quarter of $24,099, or
$0.01 per share. Last year's fourth quarter results reflected losses from discontinued operations of $57,795, or $0.02 per
share, resulting in a net loss of $33,696, or $0.01 per share (basic and diluted), in the fourth quarter of a year ago.
For the fiscal year ended November 30, 1998, net sales increased over 19 percent to $11,735,872 from $9,830,598 for all of
fiscal 1997. Net income from continuing operations for the year increased substantially to $696,341, or $0.26 per share (basic
and diluted), from $254,259, or $0.10 per share (basic and diluted) in fiscal 1997. A loss from discontinued operations last
year of $1,712,136 resulted in a net loss for 1997 of $1,457,877.
''Both of our operating subsidiaries, Glas-Craft, Inc. and Raven Lining Systems, had superior performance for the quarter and
year.'' said Dwight D. Goodman, Cohesant's president and chief executive officer. ''Both operations increased their business
during the year, with Raven's sale of specialty epoxy coatings accounting for somewhat over half of the increase in volumes for
the year.'' |
