BCT Announces Results for Q1, Revenue Flat at $4.8 Million
Press release from the issuing company
FORT LAUDERDALE, Fla.--July 12, 2002--BCT International, Inc., which through its paper products division and franchises operates a wholesale printing chain, today announced operating results for the first quarter of fiscal year 2003.
For the three months ended May 31, 2002, the Company's revenues were $4.8 million, compared with revenues of $4.8 million in the first quarter of the previous fiscal year. Pretax income was $486,000 versus $110,000 in the first quarter of fiscal 2002. Net income was $302,000 ($0.06 per diluted share) for the most recent quarter. This compared with net income for the same period in the prior year of $67,000 ($0.01 per diluted share).
Pretax income was lower in the first quarter of fiscal 2002 as a result of severance costs associated with the departure of the former President and Chief Operating Officer ($300,000) which were recorded in May 2001.
BCT International, Inc. is a holding company which, through its paper products division and its Business Cards Tomorrow franchises, operates a wholesale printing chain. The Company is headquartered in Ft. Lauderdale, Florida and its common stock trades on the OTC Bulletin Board under the symbol "BCTI".
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