PACOIMA, Calif., Dec. 20, 2007 (PRIME NEWSWIRE) -- Flamemaster Corporation (Pink Sheets:FAME) reported net income of $363,169 on sales of $6,287,239 for the year ended September 30, 2007. In the previous year earnings were $787,311 on sales of $6,036,669. Per share results were $.30 fully diluted in 2007 vs. $.64 fully diluted in 2006.
For the 4th quarter ended September 30, 2007, the Company reported a net income of $181,419 on sales of $1,436,828, compared to a net profit of $316,584 on sales of $1,597,439 for the same period last year. Per share results for the quarter ended September 30, 2007 were $.15 compared to a net profit of $.26 per share for the quarter ended September 30, 2006.
During the 1st quarter of fiscal 2007 (quarter ending December 31, 2006) The Company relocated to a new facility that is nearly twice as large as the previous facility. The costs associated with the move and the disruption of production severely impacted the results for the fiscal year.
Flamemaster Corporation is a specialty chemical manufacturer servicing the aerospace and defense industries with high performance aircraft sealants 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 of the Company and reflect future business decisions, which are subject to change.
FLAMEMASTER REPORTS EARNINGS
FOR FISCAL YEAR & 4th QUARTER
12 Months 12 Months 3 Months 3 Months
Fiscal Year Fiscal Year 4th Quarter 4th Quarter
9/30/2007 9/30/2006 12/31/2007 12/31/2006
----------- ----------- ----------- -----------
Sales 6,287,239 6,036,669 1,436,828 1,597,439
Net income 363,169 787,311 181,419 316,584
Net income per
share (fully
diluted) $.30 $.64 $.15 $.26