Citigroup Inc. 3% Min Coupon Principle Protected Note Based PR Gold (AMEX:MTY)
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From Jun 2019 to Jun 2024
Marlton Technologies, Inc. (AMEX:MTY) today reported
results for its second quarter ended June 30, 2005. Net sales of $26
million for the second quarter of 2005 grew 26.3%, and net income of
$551,000 increased 8.7% from the results for the second quarter of
2004. Non-recurring facility relocation costs of $325,000 were
expensed in the second quarter of 2005 in connection with the Showtime
Enterprises, Inc. business acquired on March 15, 2005.
For the first six months of 2005, net sales of $44.8 million
increased 14.6% and net income of $1.5 million increased 6.8% above
the results for the comparable 2004 period. The Company expensed
non-recurring one-time relocation and transition costs of $0.6 million
in the first half of 2005 related to the acquired Showtime
Enterprises, Inc. business. These costs were partially offset by a net
bad debt recovery of $0.4 million recorded in the first quarter of
2005.
Marlton Technologies, Inc., through its Sparks Exhibits &
Environments and Sparks Custom Retail subsidiaries, is engaged in the
design, marketing and production of trade show, museum, theme park and
themed interior exhibits, store fixtures, premium incentive plans,
corporate event, and point of purchase displays, both domestically and
internationally.
This press release may contain forward-looking statements which
are subject to change as a result of various factors, including
without limitation the Company's ability to control costs, the
availability of financing, the effects of competition and the effects
of changes in the economy and international affairs. Additional
factors which could affect the Company are set forth in the Company's
Forms 10-K and 10-Q which have been filed with the Securities and
Exchange Commission.
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(In thousands except per share amounts)
(UNAUDITED) (UNAUDITED)
FOR THE THREE FOR THE SIX MONTHS
MONTHS ENDED ENDED
JUNE 30, JUNE 30, JUNE 30, JUNE 30,
2005 2004 2005 2004
-------- -------- -------- --------
NET SALES $25,959 $20,556 $44,805 $39,105
OPERATING PROFIT 703 641 1,761 1,637
OTHER (EXPENSE) (152) (134) (253) (225)
INCOME BEFORE INCOME TAXES 551 507 1,508 1,412
PROVISION FOR INCOME TAXES -- -- -- --
NET INCOME $ 551 $ 507 $ 1,508 $ 1,412
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING:
BASIC 12,940 12,845 12,940 12,845
DILUTED 16,579 14,208 16,571 14,208
NET INCOME PER COMMON SHARE:
BASIC $ 0.04 $ 0.04 $ 0.12 $ 0.11
DILUTED $ 0.03 $ 0.04 $ 0.09 $ 0.10
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