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FOR IMMEDIATE RELEASE

 

                                                                                           For The Three Months Ended                               For The Six Months Ended        

                                                                                                           8/31/01                        8/31/00                         8/31/01                           8/31/00

         
         

NET SALES

$    69,947,370

$  170,080,695

$  159,691,937

$  311,103,254

COSTS AND EXPENSES:

  Cost of sales

      53,895,457

    133,234,715

    124,547,470

    243,231,209

  Operating expenses

      14,798,207

      18,858,865

      32,040,903

      37,483,379

  Interest expense

           190,980             

           870,409  

        1,145,804

        1,572,837

TOTAL COSTS AND EXPENSES

      68,884,644

    152,963,989

    157,734,177

    282,287,425

INCOME BEFORE PROVISION FOR INCOME TAXES AND MINORITY INTEREST

 

         1,062,726

 

      17,116,706

 

       1,957,760

 

      28,815,829

Provision for income taxes

           432,836

        7,661,796

          798,227

      11,913,558

INCOME BEFORE MINORITY INTERESTS

           629,890

        9,454,910

       1,159,533

      16,902,271

  Minority interest in earnings of subsidiary

           193,249

             93,100

          280,776

           246,996

INCOME FROM CONTINUING OPERATIONS

           436,641

        9,361,810

          878,757

      16,655,275

DISCONTINUED OPERATIONS

  Income from operations of contract

    manufacturing division disposed of - net of

    income taxes

 

 

           256,801

 

 

           674,865

 

 

           798,736

 

 

            806,207

  Gain on sale - net of income taxes

        2,577,232

                       -  

        2,577,232

            ___     -

        2,834,033

           674,865

        3,375,968

            806,207

NET INCOME

$      3,270,674

$    10,036,675

$      4,254,725

$     17,461,482

NET INCOME PER COMMON SHARE - BASIC:

  Continuing operations

$              0.03

$              0.59

$              0.05

$              1.02

  Discontinued operations

                0.17

                0.04

                0.21

                0.05

$              0.20

$              0.63

$              0.26

$              1.07

NET INCOME PER COMMON SHARE - DILUTED:

  Continuing operations

$              0.03

$              0.50

$              0.05

$              0.90

  Discontinued operations

                0.16

                0.04

                0.19

                0.04

$              0.19

$              0.54

$              0.24

$              0.94

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:

  Basic

      16,562,583

      15,924,308

      16,554,857

      16,279,734

  Diluted

      17,476,420

      18,567,543

      17,459,186

      18,567,543

 
 
 
 
 
 
 

 

 

 

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