Newspaper article THE JOURNAL RECORD

ADDvantage Reports Record Results

Newspaper article THE JOURNAL RECORD

ADDvantage Reports Record Results

Article excerpt

BROKEN ARROW (JR) -- ADDvantage Technologies Group Wednesday announced record net sales and operating results for the second quarter of 2000.

Revenues for the three months ended March 31 surged 26 percent to $6.75 million compared to revenues of $5.36 million for the same period last year. Net income applicable to common stock for the current quarter climbed 26 percent to $936,475 or 10 cents per share as compared to $744,727 for last year's second quarter on a pro- forma basis or 8 cents per share.

For the six months, net sales rose 11 percent to $11.28 million compared to $10.14 million for the same period in 1999. Net income applicable to common stock through the first six months of 2000 rose 30.5 percent to $1.46 million, or 15 cents per share, as compared to $1.11 million for last year's second quarter on a pro-forma basis or 12 cents per share.

"Our record sales and earnings increased operating income which increased 18.3 percent, to $2,115,117 for the second quarter of 2000 compared to $1,788,166 for the same period in l999," said Ken Chymiak, president of ADDvantage. …

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