Flamemaster Earnings More Than Double to $.26 Per Share on a 13.4% Increase in Sales for the Quarter Ended June 30, 2012
24 Juillet 2012 - 8:16PM
Flamemaster Corporation (OTC Pink Sheets "FAME") today reported
earnings of $302,661 or $.26 per share on a 13.4% rise in sales to
$1,564,792 for the quarter ended June 30, 2012. In the prior year's
quarter, The Company reported a net of $141,214 or $.12 per share
on sales of $1,380,379.
For the nine-month period ended June 30, 2012, sales declined by
7.4% to $3,639,650 compared to $3,931,916 in the year earlier
period. The Company reported earnings of $58,605 for the
nine-month period ended June 30, 2012 compared to $219,904 in the
prior year. Per share results were $.05 for the 2012 period
vs. $.18 for the 2011 period.
Flamemaster's sales for the nine month period were impacted due
to supplier (raw material) performance issues for several of its
products. The Company curtailed shipments of those products
during the period. Management believes that most of the issues
have been resolved and has resumed shipments.
The Company continues to invest in Research and Development to
improve and add to its product offerings and is close to submitting
for qualification to the QPG (Qualifying Products Group) a series
of High Performance, High Temperatures sealants that are essential
to the Aerospace, Transportation and Defense industries. These
products have been updated and are an improvement to existing
products the Company is already selling.
Flamemaster is a Southern California based specialty chemicals
manufacturer servicing the aerospace, electronic, communication,
marine, energy, transportation and defense industries with high
performance aircraft sealants and coatings.
The release herein may contain or identify a forward-looking
statement. These statements are based on a number of
assumptions and estimates, which are inherently subject to
uncertainty and contingencies, many of which are beyond the control
of the company and reflect future business decisions, which are
subject to change.
Flamemaster
Corporation |
(Unaudited) |
|
Three months ended |
Nine months ended |
|
6/30/12 |
6/30/11 |
6/30/12 |
6/30/11 |
|
|
|
|
|
Sales |
1,564,792 |
1,380,379 |
3,639,650 |
3,931,916 |
|
|
|
|
|
Net income or (loss) |
302,661 |
141,214 |
58,605 |
219,904 |
|
|
|
|
|
Net income per share, basic &
diluted |
$.26 |
$.12 |
$.05 |
$.18 |
CONTACT: Joseph Mazin, President & CEO
Telephone: (818) 890-1401
Fax: (818) 890-6001
Web Site: http://www.flamemaster.com
E-mail: Releases@flamemaster.com
Dream Master trailer:
http://www.youtube.com/watch?v=uvhUucm9efw
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