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Automodular Sales and Earnings Rise in Second Quarter
NEWMARKET - July 30, 2002
Automodular Corporation reports net income of $2.9 million or $0.15 per share for the 6 months ended June 30, 2002, an increase from $1.7 million or $0.16 per share in 2001.
Sales were $27.9 million for the period versus sales of $26.5 million in the prior year.
During the first quarter of 2002, the corporation repaid all bank debt. Cash at June 30, 2002 amounted to $16.3 million. Shareholders' equity totaled $39.4 million at June 30, 2002 versus $38.7 million at December 31, 2001.
A third quarter dividend of $0.07 per share was previously declared on May 31, 2002 payable September 26th, 2002, to shareholders of record September 12th, 2002.
The second quarter results are summarized below:
|
2002 |
2001 |
| Sales |
$14.3 |
$13.3 |
| Net Income |
1.2 |
0.9 |
| Earnings per share |
$0.06 |
$0.08 |
| Shares outstanding |
18,920,791 |
11,197,700 |
Year to date results are as follows:
|
2002 |
2001 |
| Sales |
$27.9 |
$26.5 |
| Net Income |
2.9 |
1.7 |
| Earnings per share |
$0.15 |
$0.16 |
| Shares outstanding |
18,920,791 |
11,197,700 |
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