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Technology Stocks : Barringer technology (barr) -- Ignore unavailable to you. Want to Upgrade?

To: John R. Sashko who wrote (536)	4/21/1998 9:04:00 AM
From: Phil Abel	Respond to of 652

Earnings out & I like. Diluted EPS of $0.28, Yahoo sez estimate was for $0.24 and I dunno if that $0.24 includes effect of dilution due to the 2mm offering. >>> Barringer Technologies Inc. Announces First Quarter Results Strong Gains in Revenue and Net Income MURRAY HILL, N.J.--(BUSINESS WIRE)--April 21, 1998--Barringer Technologies Inc. (Nasdaq: BARR - news, BARRW - news), the leading developer, manufacturer, and marketer of trace drug and explosive detection equipment, today announced its results for the first quarter ended March 31, 1998. For the quarter, revenues increased by 64.2% to $5.9 million, compared with $3.6 million in the first quarter of 1997. Net income increased by 112% to $1.8 million, compared with $845,000 in the year-ago quarter. Diluted earnings per common share rose to $0.28 from $0.14 in the comparable 1997 period. Mr. Stanley Binder, President and Chief Executive Officer, said, ''During the quarter Barringer achieved a number of significant accomplishments. We successfully sold 2 million shares of common stock through an underwritten public offering, which provided the Company with net proceeds of approximately $22 million, which will be used to enhance our sales and marketing capabilities and for facilities expansion and possible acquisitions.'' Mr. Binder continued, ''Once again Barringer recorded strong sales for the quarter. We also achieved record operating margins of 24.5% of revenues, surpassing the previous high achieved in last year's fourth quarter of 23.2% of revenues. With 109 IONSCAN. units sold this quarter, Barringer continues to be the world leader in terms of the total number of units sold.'' Mr. Binder concluded, ''While the FAA accounted for a majority of our sales for the quarter, our customer base continues to be diversified, with sales in this quarter to other major international customers in the narcotics detection and security-related fields. While shipments to the FAA were at lower average selling prices, we were able to maintain our gross profit margins as our factory continues to achieve savings in production costs.'' Headquartered in Murray Hill, New Jersey, Barringer Technologies Inc. is principally engaged in developing, manufacturing, and marketing of high technology products for drug and explosive detection and other security and industrial applications. The IONSCAN. is the Company's proprietary trace particle drug and explosive detection unit.