O.I. Corporation Announces Results for Fourth Quarter and Year End 2009 and Co-Chairmanship of Board of Directors
02 Marzo 2010 - 4:34PM
Marketwired
O.I. Corporation (NASDAQ: OICO) today announced its results for the
three and twelve months ended December 31, 2009. These results are
summarized below.
The limited information contained in this press release is not
adequate information upon which to make an informed investment
decision. Accordingly, we urge investors to read our Annual Report
on Form 10-K for the year ended December 31, 2009 which we expect
to file with the SEC on March 15, 2010. Once filed, this document
will be available on our website at www.oico.com and the SEC's
website at www.sec.gov.
O.I. CORPORATION
FINANCIAL HIGHLIGHTS
(in thousands, except earnings per share amounts)
Three Months Ended Twelve Months Ended
December 31 December 31
------------------ -------------------
2009 2008 2009 2008
-------- -------- -------- ---------
Net revenues $ 5,526 $ 6,977 $ 19,912 $ 28,969
-------- -------- -------- ---------
Operating income (loss) 364 497 (105) 1,460
-------- -------- -------- ---------
Income before income taxes 378 515 (56) 996
-------- -------- -------- ---------
Benefit/(Provision) for income
taxes (52) (68) 111 24
-------- -------- -------- ---------
Net income 326 447 55 1,020
-------- -------- -------- ---------
-------- -------- -------- ---------
Basic earnings per share 0.14 0.19 0.02 0.40
-------- -------- -------- ---------
Diluted earnings per share 0.14 0.18 0.02 0.40
-------- -------- -------- ---------
Balance Sheet Data
December 31, December 31,
Assets 2009 2008
------------ ------------
Cash and investments $ 4,614 $ 3,434
Accounts receivable 4,371 6,195
Inventories 5,657 5,754
Other current assets 1,828 1,554
------------ ------------
Total current assets 16,470 16,937
Long-term assets 4,117 4,667
------------ ------------
Total assets $ 20,587 $ 21,604
============ ============
Liabilities and Stockholders' Equity
------------ ------------
Total liabilities $ 2,895 $ 3,670
Stockholders' equity: 17,692 17,934
------------ ------------
Total liabilities and stockholders' equity $ 20,587 $ 21,604
============ ============
Chairmanship of Board of Directors
The Company also announced today that its Board of Directors has
appointed Raymond E. Cabillot and John K.H. Linnartz to co-chair
the Company's Board of Directors, effective March 1, 2010. Messrs.
Cabillot and Linnartz represent the Company's two largest
shareholders.
About O.I. Corporation:
O.I. Corporation, dba OI Analytical, develops, manufactures,
sells, and services analytical instrumentation that detects,
measures, analyzes, and monitors chemicals in liquids, solids, and
gases. Providing products used to digest, extract, and separate
components of chemical mixtures, the Company designs
application-specific solutions for various industries including
environmental testing, defense, and petrochemical. Headquartered in
College Station, Texas, the Company's products are sold
worldwide.
This press release includes certain statements that may be
deemed to be "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements can sometimes be identified by our use of
forward-looking words such as "may," "will," "anticipate,"
"believe," "expect," "project," or "intend." All statements, other
than statements of historical facts, included in this press release
that address activities, events or developments that the Company
expects, believes or anticipates will or may occur in the future,
are forward-looking statements. These statements are based on
certain assumptions and analyses made by the Company in light of
its experience and its perception of historical trends, current
conditions, expected future developments and other factors it
believes are appropriate in the circumstances. Such statements are
subject to a number of assumptions, risks and uncertainties, many
of which are beyond the control of the Company. Investors are
cautioned that any such statements are not guarantees of future
performance and that actual results or developments may differ
materially from those projected in the forward-looking
statements.
Copies of our filings with the Securities and Exchange
Commission are available at www.sec.gov and at www.oico.com. Please
refer to "Part 1, Item 1A - Risk Factors" in our annual report on
Form 10-K for the year ended December 31, 2008 and for the year
ended December 31, 2009, which we expect to file with the SEC on
March 15, 2010, for further discussion regarding our exposure to
risks. Additionally, new risk factors emerge from time to time and
it is not possible for us to predict all such factors, nor to
assess the impact such factors might have on our business or the
extent to which any factor or combination of factors may cause
actual results to differ materially from those contained in any
forward looking statements. Given these risks and uncertainties,
investors should not place undue reliance on forward-looking
statements as a prediction of actual results.
Visit the Company's worldwide web site at:
http://www.oico.com
Investor Relations: Bruce Lancaster Chief Executive Officer
& Chief Financial Officer 979.690.1711
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