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Microcap & Penny Stocks : ADMG-ANVANCED MATERIALS GROUP -- Ignore unavailable to you. Want to Upgrade?

To: caly who wrote (34)	9/20/2000 9:27:32 AM
From: Catfish	Respond to of 36

Advanced Materials Group Reports Third Quarter Results ADMG Posts Earnings of $0.03 Per Share Sales Up 35.6% For Third Quarter RANCHO DOMINGUEZ, Calif.--(BUSINESS WIRE)--Sept. 20, 2000-- Advanced Materials Group, Inc. (Nasdaq:ADMG - news) today reported sales and earnings from operations for the third fiscal quarter ended Aug. 27, 2000. Net sales for the third quarter of fiscal 2000 were $10.5 million versus $7.7 million for the comparable period of fiscal 1999. Net earnings for the third quarter of fiscal 2000 were $260,000, compared to net loss of $1,099,000 for the third quarter of fiscal 1999. Basic earnings per share for the third quarter of fiscal 2000 were three cents per share on an average of 8.6 million shares compared to a basic loss per share of thirteen cents on an average of 8.6 million shares in the year ago period. Diluted earnings per share for the third quarter were three cents per share on an average of 8.8 million shares compared to a diluted loss per share of thirteen cents on an average of 8.6 million shares in the year ago period. Net sales for the nine months of fiscal 2000 were $30.2 million versus $24.2 million for the comparable period of fiscal 1999. Net earnings for the nine months of fiscal 2000 were $777,000 compared to a net loss of $1,213,000 for the nine months of fiscal 1999. Basic earnings per share for the nine months of fiscal 2000 were nine cents per share on an average of 8.6 million shares compared to a basic loss per share of fourteen cents on an average of 8.6 million shares in the year ago period. Diluted earnings per share for the nine months of fiscal 2000 were nine cents per share on an average of 8.8 million shares compared to diluted loss per share of fourteen cents on an average of 8.6 million shares in the year ago period. Chief Executive Officer Comments on Results Commenting on the results, Advanced Materials Group CEO and President, Steve Scott, said, ``We have been profitable for four consecutive quarters earning $0.13 per share over that period. This is the direct result of our vigorous cost cutting measures and stable sales volume. ``We have previously noted that the key challenge for 2000 is to grow sales volume in the U.S. while supporting the strong sales and profit growth in Singapore and Ireland. We are very encouraged by our progress. We have received our first $500,000 order to service the dynamic cellular phone industry to be shipped in the fourth quarter. This is a target market for ADMG in which we are very excited to be participating. We continue to be a dominant supplier to the global inkjet cartridge market as well. ``We are also expecting strong growth from our Ireland operation in the fourth quarter. Advanced Materials, Ltd. is forecast to have revenue growth of 40% in the fourth quarter relative to the average quarter year-to-date of $1,565,000. ``All in all, we are very pleased that we are staged to profitably grow in 2001 and beyond.'' Some statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. In addition to the factors discussed, the following are among other factors that could cause actual results to differ materially: general business conditions, competitive factors, concentration of sales in markets and customers, concentration of raw materials suppliers, delays or cancellations in orders, fluctuations in margins, timing of significant orders, and other risks and uncertainties outlined by management in the Company's most recent Form 10-K. Advanced Materials Group, Inc. is a leading manufacturer and fabricator of specialty foams, foils, films and pressure-sensitive adhesive components for a broad base of customers in the computer, medical, automotive and aerospace industries both in the U.S. and abroad.