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Show The National Enterprise , October 20, 1976 Page three Earnings Dip on Higher Sales Med-Pak- s CHARLESTON, W. Va., -M- ed-Pak Corporation (OTC .75, 1.125), manufacturer and marketer of disposable medical and surgical products, reported operating results for the fiscal first quarter ended Aug. 31, 1976. Med-Pa- k President James P. Clark said that sales for the quarter advanced four percent to $1,040,496 from $996,792 in the comparable three months a year ago. Net income, however, dipped to $9,627, equal to $.02 per share, from net of $12,122, also equal to $.02 a share, achieved in the corresponding period. that Noting though sales advanced year-earli- er modestly over a year ago, Clark said a more dramatic sales gain failed to develop because of increased competition in some product categories. Nevertheless, he reported, new products have proved instrumental in expanding the companys market. Newest of the Med-Pa- k products, he reported, are packaged ointments produced at the companys Charleston plant, the major facility in which its disposable medical and surgical products are manufactured. Med-Pa- k also has a Byesville, Ohio plant that produces plastic products for the company and for other firms on a contract basis. Looking ahead, the Med-Pa- k president said emphasis continues to be placed on three fronts which he described as critical criteria for growth in a competitive market. These include, he said, intensification of the company's sales efforts, new product introductions and close and continuing control of costs. Progress in each of these areas, he added, can have a positive impact on profits throughout the balance of the year. News Briefs Hamilton Brothers Petroleum Corp. (OTC 21.75, 22.50) and Sabine Royalty have agreed to draft a definitive merger agreement rather than a detailed letter of intent as originally announced. The IffiOK companies said discussions concerning the proposed merger are proceeding satisfactorily and they are evaluating information about assets in order to reach agreement on a merger exchange ratio. Dunkin Donuts Inc, OTC 5.625, 6.00 said the U.S. Supreme Court has let stand an appeals court decision which bars a group of its franchise holders from pressing a class action charging that Dunkin Donuts broke antitrust laws by pressuring them to buy equipment, signs, real estate and supplies it sells. An attorney for the franchise owners said they Dunkin' would press their claims individually. Augment your income with our organization (without leaving yours) . Donuts has estimated damages would total about $80 million. Inc. (OTC 1.625, 2.00) has completed the acquisition of Ballantyne of Omaha Inc. Ballantyne makes and distributes motion Canrad-Hanovi- a Alpha Group Ltd. is a newly formed national marketing network dealing in OTC financial PR advertising. We are currently selecting regional representatives who can-ia few hours a month-augm- ent their current annual income by as much as $10,000. If you are a savvy, PR oriented broker, you can work with us while making your regular corporate contacts . Our proposition is solid, lucrative, and worth your investigation. Im Raymond Peterson. Call me collect at (801) Youll find the details attractive. 533-055- 6. pciture projectors, sound heads, sound systems, and restaurant equipment. Canrad-Hanovi- a produces and markets high intensity lighting equipment, including projection bulbs, ultraviolet photochemical and photoprint lamps. n Acceleration Corp, OTC 13.75, 14.50 said it is buying a block of credit life and credit disability insurance business from Pilgram Life Insurance Co. of Indiana. The insurance policies involved are said to represent total annualized premiums of about $8 million. Acceleration said the agreement calls for an initial cash payment and a two year payout of an undisclosed amount. Raymond International Inc. (OTC 11.75, 12.75) and Brown & Root Inc., a unit of Halliburton Co., received a $22 million contract in a joint venture to build a bridge in Louisiana. Gulf Resources & Chemical Co, said it will reduce its price for all grades of zinc by two cents a pound effective immediately. Corp. (OTC 1.56, 1.81) is reducing its work force by 18 percent, or about 50 people. Scan-Dat- a said the rate of new equipment orders in Scan-Dat- a 1976 has been exceeding last years rate, but falls short of projections on which hiring plans had been based. Product development and sales support are the areas which will be hit hardest as management feels current expense levels are not justified by current volume. Pffl y V' Salt Lake City Denver oup ud. A suit alleging copyright infringement has been brought against Chomerics, Inc. by Metex Corp, OTC 10.00, 10.50. The suit charges Chomerics and its president. Robert Jasse, copied material extensively from a Metex catalog and that the catalogs were used unfairly to compete with Metex and its A preliminary California subsidiary, injunction restraining Chomerics from further distributing and using its catalog is being sought. Cal-Mete- x. Bonanza International Inc. (OTC 2.875, 3.125) has revised its forecast of earnings for the year ending Dec. 30 to $2.3 million or 41 cents a share from the $3.4 million forecast at the annual meeting in May. |