MELVILLE, N.Y., Aug. 19, 2009 (GLOBE NEWSWIRE) -- P&F Industries, Inc. (Nasdaq:PFIN) yesterday issued a press release entitled "P&F Industries Reports Results for the Three and Six-Month Periods Ended June 30, 2009". Such press release contained a typographical error in the "Cost of sales" line item for the three-month period ended June 30, 2009 in a supplemental table. The revised table follows.
P & F INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS Three months ended Six months ended June 30, June 30, --------------------- --------------------- (In thousands of $, except per share data) 2009 2008 2009 2008 --------- --------- --------- --------- (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net revenue $18,528 $25,554 $34,090 $49,879 Cost of sales 13,817 17,499 24,748 34,151 --------- --------- --------- --------- Gross profit 4,711 8,055 9,342 15,728 Selling, general and administrative expenses 5,288 6,702 10,343 13,191 --------- --------- --------- --------- Operating (loss) income (577) 1,353 (1,001) 2,537 Interest expense 362 452 671 1,010 --------- --------- --------- --------- (Loss) earnings before income taxes (939) 901 (1,672) 1,527 Income tax (benefit) expense (374) 406 (501) 670 --------- --------- --------- --------- Net (loss) earnings $(565) $495 $(1,171) $857 --------- --------- --------- --------- (Loss) earnings per common share: Basic: Net (loss) earnings per common share $(0.16) $0.14 $(0.32) $0.24 ========= ========= ========= ========= Diluted: Net (loss) earnings per common share $(0.16) $0.13 $(0.32) $0.23 ========= ========= ========= ========= Weighted average common shares outstanding: Basic 3,614,562 3,637,277 3,614,562 3,637,370 ========= ========= ========= ========= Diluted 3,614,562 3,713,440 3,614,562 3,694,338 ========= ========= ========= =========