Epolin, Inc. Announces Results for the Third Quarter of Fiscal 2012
(firmenpresse) - NEWARK, NJ -- (Marketwire) -- 01/17/12 -- Epolin, Inc. (the "Company") (OTCBB: EPLN) () today announced results for the three and nine months ended November 30, 2011.
For the three months ended November 30, 2011, sales were $901,000 as compared to $802,000 for the three months ended November 30, 2010, an increase of $99,000 or 12.2%. Sales increased to $2,582,000 for the nine months ended November 30, 2011 from $2,284,000 for the nine months ended November 30, 2010, an increase of $298,000 or 13.0%. Gross profit, defined as sales less cost of sales, was $459,000 or 51.0% of sales for the three months ended November 30, 2011 compared to $372,000 or 46.4% of sales for the three months ended November 30, 2010, an increase of 4.6%. For the nine months ended November 30, 2011, gross profit was $1,282,000 or 50.0% of sales compared to $1,107,000 or 48.5% of sales for the nine months ended November 30, 2010, an increase of 1.5%.
Cost of sales was $442,000 for the three months ended November 30, 2011 which represented 49.0% of sales compared to $430,000 for the three months ended November 30, 2010 which represented 53.6% of sales. For the nine months ended November 30, 2011, cost of sales was $1,300,000 which represented 50.0% of sales compared to $1,177,000 which represented 51.5% of sales. Selling, general and administrative expenses decreased to $342,000 for the three months ended November 30, 2011 compared to $433,000 for the three months ended November 30, 2010, a decrease of $91,000, while selling, general and administrative expenses decreased to $902,000 for the nine months ended November 30, 2011 from $1,057,000 for the nine months ended November 30, 2010, a decrease of $155,000.
The Company had operating income of $117,000 for the three months ended November 30, 2011 compared to an operating loss of $(61,000) for the three months ended November 30, 2010. For the nine months ended November 30, 2011, operating income was $380,000 compared to operating income of $50,000 for the nine months ended November 30, 2010.
Net income after taxes was $60,000 or $0.00 per share for the three months ended November 30, 2011 as compared to a net loss after taxes of $(39,000) or $0.00 per share for the three months ended November 30, 2010. For the nine months ended November 30, 2011, net income after taxes was $219,000 or $0.02 per share as compared to net income after taxes of $40,000 or $0.00 per share for the nine months ended November 30, 2010.
Epolin, Inc. is a specialized chemical company primarily engaged in the manufacturing, marketing, research and development of infrared dyes, laser absorbing dyes and infrared dye formulations. The Company's business is heavily weighted towards the development, manufacture and sale of near infrared dyes. Applications for these dyes cover several markets that include laser protection, welding, sunglasses, optical filters, glazing and imaging and security inks and tagants. The Company also manufactures specialty chemicals for certain chemical manufacturers.
Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate," "believe," "estimate," "plan," "intend" and "expect" and similar expressions, as they relate to Epolin, Inc., or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, such factors discussed in reports and documents filed from time to time by the Company with the Securities and Exchange Commission. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.
For more detailed information, please contact:
Murray S. Cohen
Chairman of the Board
James Ivchenko
President
Greg Amato
Chief Executive Officer
(973) 465-9495
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Datum: 17.01.2012 - 14:39 Uhr
Sprache: Deutsch
News-ID 1073799
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