Chat BTJ
Ron,
I traded BTJ a number of times last year. It reported outstanding
earnings this morning. Take a look at the earnings report and
notice how well this company is doing even though the oil service stocks in general are in the toilet. Also notice the bargain basement PE of 6-ish. I don't own any currently, but am seriously considering it. As you remember BTJ is a niche player that supplies airguns to offshore seismic companies. Here is today's earnings report.
Paul
biz.yahoo.com
Tuesday January 12, 8:08 am Eastern Time
Company Press Release
Bolt Reports Record Second
Quarter and Six Months Results
NORWALK, Conn.--(BUSINESS WIRE)--Jan. 12, 1999--Bolt Technology Corporation(AMEX:BTJ - news) today announced the results of operations for the second quarter and the first six months of fiscal 1999. The second quarter and six months results are the highest reported for any second quarter or six months in the Company's history.
Quarterly revenues increased 56%, income before taxes increased 118% and net income increased 81%.
Six months revenues increased 75%, income before taxes increased 132% and net income increased 79%.
Revenues for the three months ended December 31, 1998 amounted to $5,849,000compared to $3,750,000 in last year's second quarter and income before taxes amounted to $1,928,000 compared to $884,000 last year. Net income in this year's second quarter was $1,781,000 compared to $984,000 last year.
Revenues for the six months ended December 31, 1998 amounted to $11,209,000 compared to $6,407,000 last year and income before taxes amounted to $3,463,000 compared to last year's $1,494,000. Net income for the six months was $3,316,000 compared to $1,852,000 last year.
Raymond M. Soto, Chairman, President and Chief Executive Officer said, ''We are extremely pleased with the second quarter and six months record results achieved despite continuing weak commodity prices. Our products are primarily used in three-dimensional seismic exploration surveys which have significantly reduced the cost of finding and producing hydrocarbons and we remain cautiously optimistic that the
second six months of fiscal 1999 will reflect continued growth for Bolt.''
Bolt Technology Corporation develops, manufactures and sells the world's leading Seismic Energy Sources used in the offshore seismic exploration for oil and gas and through its subsidiary, Custom Products Corporation, designs, manufactures and sells precision mechanical and pneumatic slip clutches.
Forward-Looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including, without limitation, risks associated with decreased demand for the Company's products due to fluctuation in energy industry activity, reliance on certain significant customers, significant amount of foreign sales and other risks detailed in the Company's filings with the Securities and Exchange Commission.
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Bolt Technology Corporation
Financial Summary
Quarter ended Six months ended
December 31, December 31,
1998 1997 1998 1997
Revenues $5,849,000 $3,750,000 $11,209,000 $6,407,000
Net income 1,781,000(a) 984,000(b) 3,316,000(a) 1,852,000(c)
Per share
income:
Basic $0.34 $0.19 $0.63 $0.36
Diluted $0.33 $0.19 $0.62 $0.36
Shares
outstanding:
Basic 5,263,000 5,078,000 5,248,000 5,077,000
Diluted 5,352,000 5,220,000 5,362,000 5,213,000
(a) After income tax expense of $147,000. (b) After income tax credit of $100,000. (c)
After income tax credit of $358,000.
Contact:
Bolt Technology Corporation
Alan Levy, 203/853-0700 |
