PACOIMA, Calif., Jan. 27, 2009 (GLOBE NEWSWIRE) -- Flamemaster Corporation (Pink Sheets:FAME) reported net income of $608,760 on sales of $6,098,711 for the year ended September 30, 2008. In the previous year earnings were $363,169 on sales of $6,287,239. Per share results were $.50 fully diluted in 2008 vs. $.30 fully diluted in 2007. The earnings for the previous year were severely impacted due to the costs and disruption of production associated with the Company's relocation to a larger facility in the 1st quarter of fiscal 2007.
For the 4th quarter ended September 30, 2008, the Company reported a 34.5% decline in income to $118,676 on sales of $1,597,815, compared to a net of $181,419 on sales of $1,436,828 for the same period last year. Per share results for the quarter ended September 30, 2008 were $.10 compared to $.15 per share for the quarter ended September 30, 2007.
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.
12 Months 12 Months 3 Months 3 Months
Fiscal Year Fiscal Year 4th Quarter 4th Quarter
9/30/2008 9/30/2007 9/30/2008 9/30/2007
----------- ----------- ----------- -----------
Sales 6,098,711 6,287,239 1,597,815 1,436,828
Net Income
(before tax) 1,003,190 528,955 182,176 259,919
Net income 608,760 363,169 118,676 181,419
Net income
per share
(fully
diluted) $.50 $.30 $.10 $.15