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Hallwood Group declares June 2006 sales result down
14 Aug '06
3 min read
The Hallwood Group Incorporated reported results for the second quarter and six months ended June 30, 2006.
For the quarter, Hallwood reported a net (loss) of $499,000, or $0.33 per share, assuming dilution, compared to a net (loss) of $4.3 million, or $3.02 per share, in 2005.
For the six months, the net (loss) was $35,000, or $0.02 per share, assuming dilution, compared to a net (loss) of $3.4 million, or $2.47 per share, in 2005.
Following is a comparison of results for the 2006 and 2005 periods: Operating Income (Loss). For the 2006 and 2005 quarters, operating income was $68,000 and a (loss) of $4.0 million, on revenue of $28.7 million and $35.9 million, respectively.
For the six months, operating income was $1.4 million and a (loss) of $2.2 million, on revenue of $59.5 million and $73.2 million, respectively.
Fluctuations were primarily due to a decrease in military sales to $13.2 million and $28.9 million for the three months and six months ended June 30, 2006, compared to $18.1 million and $39.5 million in 2005, respectively, and a $5.0 million bonus awarded to the Company's chairman in the 2005 second quarter.
Other Income (Loss). Other income (loss) consists of equity in its Hallwood Energy, L.P. affiliate and predecessor entities, interest income and expense and other income and expense.
For the 2006 and 2005 second quarters, other income (loss) was a (loss) of $692,000 and income of $532,000, respectively, including an equity (loss) from its energy investment of $684,000 in 2006, compared to equity income of $500,000 in 2005.
For the quarter, Hallwood reported a net (loss) of $499,000, or $0.33 per share, assuming dilution, compared to a net (loss) of $4.3 million, or $3.02 per share, in 2005.
For the six months, the net (loss) was $35,000, or $0.02 per share, assuming dilution, compared to a net (loss) of $3.4 million, or $2.47 per share, in 2005.
Following is a comparison of results for the 2006 and 2005 periods: Operating Income (Loss). For the 2006 and 2005 quarters, operating income was $68,000 and a (loss) of $4.0 million, on revenue of $28.7 million and $35.9 million, respectively.
For the six months, operating income was $1.4 million and a (loss) of $2.2 million, on revenue of $59.5 million and $73.2 million, respectively.
Fluctuations were primarily due to a decrease in military sales to $13.2 million and $28.9 million for the three months and six months ended June 30, 2006, compared to $18.1 million and $39.5 million in 2005, respectively, and a $5.0 million bonus awarded to the Company's chairman in the 2005 second quarter.
Other Income (Loss). Other income (loss) consists of equity in its Hallwood Energy, L.P. affiliate and predecessor entities, interest income and expense and other income and expense.
For the 2006 and 2005 second quarters, other income (loss) was a (loss) of $692,000 and income of $532,000, respectively, including an equity (loss) from its energy investment of $684,000 in 2006, compared to equity income of $500,000 in 2005.
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