 The board of directors of ADS Inc announced the Company's financial results for the second quarter ended July 29, 2007.
The Company's sales volume for continuing activities for the three-month period ended July 29, 2007 was $15.3 million, for an increase of $2.0 million or 15% compared to sales of $13.3 million for the second quarter of the preceding fiscal year. After six months, the Company's sales figures were $26.2 million for growth of $1.3 million, or a little more than 5% on revenues
of $24.9 million for the first half of the preceding fiscal year.
Beckwith Bemis, which was acquired on June 18, 2007, generated sales of $1.6 million during the last quarter. In general, the Company has performed well in its various markets, since the beginning of the current fiscal year. Only sales in the industrial and disposable wipes sectors are slightly lower than the Company's objectives, although sales in these areas are growing compared to last year.
Business in the waterproof geomembrane installation market slowed during the second quarter. Nevertheless, the Company's order book, for this sector and for other markets served by the enterprise, is well filled for the coming quarters.
During the second quarter, ADS recorded net earnings of $418,000, or $0.02 per share on a diluted basis, whereas for the corresponding quarter last year, it recorded net earnings of $680,000 or $0.03 per share. For the first half, the Company recorded net earnings of $369,000, or $0.02 per share, a decline of $195,000 compared to net earnings of $564,000, or $0.03 per share for the same period of the preceding fiscal year.
|