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Automodular Sales and Earnings Rise in First Quarter
NEWMARKET - April 25, 2002
Automodular Corporation reports net income of $1.7 million or $0.09 per share for the 3 months ended March 31, 2002, an increase from $0.8 million or $0.08 per share in 2001. The number of shares outstanding increased to 19 million from 11 million last year, as a result of the $22 million equity issue completed in June 2001.
Sales were $13.6 million versus $13.2 million in the prior year.
During the first quarter, the corporation repaid all bank debt. Cash at March 31, 2001 amounted to $14.8 million.
The directors of Automodular have declared a regular quarterly dividend of $0.07 per share payable June 27th, 2002, to shareholders of record June 13th, 2002.
The first quarter results are summarized below:
|
2002 |
2001 |
Increase |
| Sales |
$13.6 |
$13.2 |
3.0% |
| Net Income |
1.7 |
0.8 |
20.5% |
| Earnings per share |
$0.09 |
$0.08 |
12.5% |
| Shares outstanding |
18,885,065 |
10,661,482 |
17.7% |
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