Earnings per share (EPS) for the quarter ended March 31, 2007 was $0.09, as compared to $0.03 for the two months ended March 31, 2006, an increase of $0.06.
”We are pleased to report another quarter of solid results,” said Paul Gallagher, Hirsch's President and Chief Executive Officer. “The first quarter sales run rate was up eight percent while the operating income run rate more than doubled to over $800,000. Additionally, we continue to progress in building the needed infrastructure to support sales of MHM screenprinting equipment and SEIT laser systems. We have completed over forty screenprinting machine installations through March and just last week completed the first sale of an advanced SEIT laser system – further reinforcing the expected positive impact both product lines will have for our customers and on our future performance and market position.”
Mr. Gallagher concluded, “We believe our proven business model designed to drive top and bottom-line growth combined with our outstanding sales and support team and our strong balance sheet, provides us with a great platform for growth. We are continuing to aggressively look for expansion opportunities in and around the $6 billion decorated apparel market and beyond that will provide growth that we expect to be directly accretive to earnings and shareholder value.”
Hirsch International Corp
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