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FOR IMMEDIATE RELEASE
EARNINGS RISE BY MORE THAN 37% TO A RECORD $.74 PER SHARE ON 10% GAIN IN REVENUE FOR FISCAL YEAR 2000
Sun Valley, California, December 21, 2000 – Flamemaster Corporation (NASDAQ "FAME"), reported net income of $ 1,190,722 on revenues of $5,166,286 for the year ended September 30, 2000. In the prior year earnings were $876,396 on revenues of $4,679,695. Per share results were $.74 basic and $.71 fully diluted in 2000 vs. $.54 basic and $.52 fully diluted in 1999. The increase in net income this year represents the 3rd year in a row of better than 35% earnings gains.
For the 4th quarter net income jumped by 10% to $202,146 on revenues of $1,055,299 compared to net of $183,939 on revenues of $1,068,855 in the 1999 quarter. Per share results for the quarter were $.13 basic and $.12 fully diluted vs. $.12 basic and $.11 fully diluted in 1999.
Revenues and earnings expanded during the year as The Company benefited from greater investment income.
Flamemaster Corporation is a specialty chemical manufacturer servicing the aerospace and defense industries with high performance aircraft sealants and coatings. Flamemaster Continues to hold a significant interest in PerfectData Corporation (NASDAQ "PERF") and modest stakes in several other companies including Cohesant Technologies (NASDAQ "COHT"), The Hartcourt Companies (OTC BB. "HRTC"), International Airline Support Group, (AMEX "YLF"), Kellstrom Industries, (NASDAQ "KELL"), Rexhall Industries Inc., (NASDAQ "REXL"), and an extensive investment portfolio.
|
12 Months |
12 Months |
Three Months |
Three Months |
|
|
Fiscal Year |
Fiscal Year |
Ended |
Ended |
|
|
09-30-2000 |
09-30-1999 |
09-30-2000 |
09-30-1999 |
|
|
Revenues |
$ 5,166,286 |
$ 4,679,695 |
$ 1,055,299 |
$ 1,068.855 |
|
Income before taxes |
1,937,289 |
1,465,826 |
294,611 |
340,051 |
|
Income taxes |
746,567 |
589,430 |
92,465 |
156,112 |
|
Net income |
1,190,722 |
876,396 |
202,146 |
183,939 |
|
Net income per share |
$ .74 |
$.54 |
$.13 |
$ .12 |
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 of the Company and reflect future business decisions which are subject to change.
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SOURCE: Flamemaster Corporation
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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