O.I. Corporation Announces Results for Second Quarter of 2010
16 Agosto 2010 - 4:00PM
Marketwired
O.I. Corporation (NASDAQ: OICO) today announced its results for the
three months ended June 30, 2010. These results are summarized
below.
The limited information contained in this press release is not
adequate information upon which to make an informed investment
decision. Accordingly, we urge investors to read our Annual Report
on Form 10-K for the year ended December 31, 2009 which we filed
with the Securities Exchange Commission (SEC) on March 15, 2010.
Additional information regarding our second quarter performance is
available in our Quarterly Report on Form 10-Q which we filed with
the SEC earlier today. This document is available on our website at
www.oico.com/oicorp and the SEC's website at www.sec.gov.
O.I. CORPORATION
FINANCIAL HIGHLIGHTS
(in thousands, except earnings per share amounts)
Three Months Ended June 30
--------------------------
2010 2009
------------ -----------
Net revenues $ 6,444 $ 4,876
------------ -----------
Operating income (loss) 766 (3)
------------ -----------
Income before income taxes 772 13
------------ -----------
Provision for income taxes 316 -
------------ -----------
Net income 456 13
------------ -----------
------------ -----------
Basic earnings per share 0.19 0.01
------------ -----------
Diluted earnings per share 0.19 0.01
------------ -----------
Balance Sheet Data
June 30, December 31,
Assets 2010 2009
------------ ------------
Cash and investments $ 5,071 $ 4,614
Accounts receivable 5,782 4,371
Inventories 5,404 5,657
Other current assets 1,311 1,828
------------ ------------
Total current assets 17,568 16,470
Long-term assets 3,979 4,117
------------ ------------
Total assets $ 21,547 $ 20,587
============ ============
Liabilities and Stockholders' Equity
------------ ------------
Total liabilities $ 3,298 $ 2,895
Stockholders' equity: 18,249 17,692
------------ ------------
Total liabilities and stockholders' equity $ 21,547 $ 20,587
============ ============
Selected Data
The following table provides additional information regarding
free cash flow, a non-GAAP measure, and book value per share.
Six Months Ended
June 30, June 30,
$(000) 2010 2009
----------- -----------
Net income (loss) $ 761 $ (483)
Net interest income (20) (27)
Tax expense (benefit) 456 (244)
Depreciation/amortization expense 240 271
----------- -----------
EBITDA 1,437 (483)
Capital expenditures (130) (37)
----------- -----------
Free cash flow $ 1,307 $ (520)
=========== ===========
Period end Shares Outstanding 2,361,628 2,355,223
Period end Book Value per share $ 7.73 $ 7.35
----------- -----------
About O.I. Corporation:
O.I. Corporation, dba OI Analytical, develops, manufactures,
sells, and services analytical instrumentation that detects,
measures, analyzes, and monitors chemicals in liquids, solids, and
gases. Providing products used to digest, extract, and separate
components of chemical mixtures, the Company designs
application-specific solutions for various industries including
environmental testing, defense, and petrochemical. Headquartered in
College Station, Texas, the Company's products are sold
worldwide.
Visit the Company's web site at: http://www.oico.com
Investor Relations: Bruce Lancaster Chief Executive Officer
& Chief Financial Officer 979.690.1711
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