FOR IMMEDIATE RELEASE

Flamemaster Reports 3rd Quarter Net Up 119% to a Record On 55% Rise in Revenues

SUN VALLEY, Calif., Aug. 5 /PRNewswire/ -- The Flamemaster Corporation (Nasdaq: FAME - news), reported a record 3rd quarter net of $364,619 on revenues of $1,441,400 for the period ended June 30, 1999 compared to a net of $165,969 on revenues of $927,550 for the quarter ended June 30, 1998. For the nine months ended June 30, 1999 net income jumped to $692,457 a rise of 61% on revenues of $3,444,822 compared to a net of $428,200 on revenues of $2,866,323 in the prior year.

Net earnings expanded at an accelerated rate due to the strong revenue growth during the quarter, and sales of higher margin products. The Company experienced good acceptance of new product introductions and increased demand from U.S. Government agencies. Sales gains were also helped by the Company's internet exposure.

Per share net for the quarter was $.22 vs. $.10 and for the nine months net per share basic was $.42 and $.41 diluted vs. $.26 basic and $.25 diluted in the prior year.

The Company's balance sheet is strong with a current ratio of about 9.8 to 1, and working capital of about $5.8 million as of June 30, 1999. Flamemaster owns an approximate 18% interest in PefectData Corporation (Nasdaq: PERF - news) as well as a moderate stake in Staruni Corp. (OTC Bulletin Board: SRUN - news) an internet provider. Other modest stakes held by Flamemaster include El Guapo Foods, Cohesant Technologies (Nasdaq: COHT - news), American Pacific State Bank and Hartcourt Companies (OTC Bulletin Board: HRCT - news).

Flamemaster is a Southern California based specialty chemicals manufacturer of high performance sealants, adhesives and coatings.

The release herein may contain or identify a forward looking statement. These statements are based on a number of assumptions and estimates which are inherently subject to uncertainty and contingencies, many of which are beyond the control or the Company and reflect future business decisions which are subject to change.

                           Flamemaster Corporation
                                 (unaudited)

                            Three months ended          Nine Months ended

                           6-30-99       6-30-98      6-30-99      6-30-98
    Revenues            $1,441,400      $927,550   $3,444,822   $2,866,323

    Income before taxes    571,846       175,440    1,125,775      595,984

    Income taxes           207,227         9,471      433,318      167,784

    Net Income             364,619       165,969      692,457      428,200

    Net Income per share,
     basic                    $.22          $.10         $.42         $.26
    Net Income per share,
     diluted                  $.22          $.09         $.41         $.25

SOURCE: Flamemaster Corporation

Copyright © 1999 PRNewswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
See our Important Disclaimers and Legal Information.
Questions or Comments?

For More Information Contact:
Joe Mazin
Flamemaster Corporation
11120 Sherman Way
Sun Valley, California  91352-4949
Tel: 818.982-1650
FAX: 818.765-5603
e-mail: flamemaster@cyberhotline.com

Send mail to flamemaster@cyberhotline.com with questions or comments about this web site.
Copyright © 1999 
Last modified: September 12, 2001