ATC Venture Group Inc. (AMEX:ATC) today announced its preliminary, unaudited financial results for the third fiscal quarter as follows:
| For the nine months ended June 30, 2012 | For the nine months ended June 30, 2011 | |||||||||||||||||||||||||||||
| Continuing | Discontinued | Continuing | Discontinued | |||||||||||||||||||||||||||
| Operations | Operations | Total | Operations | Operations | Total | |||||||||||||||||||||||||
| Sales | $ | 3,583,732 | $ | 5,557,682 | $ | 9,141,414 | $ | 7,981,162 | $ | 338,376 | $ | 8,319,538 | ||||||||||||||||||
| Cost of goods sold | 2,495,930 | 3,643,875 | 6,139,805 | 6,014,394 | 565,794 | 6,580,188 | ||||||||||||||||||||||||
| Gross profit | 1,087,802 | 1,913,807 | 3,001,609 | 1,004,932 | (227,419 | ) | 777,513 | |||||||||||||||||||||||
| Sales, general & admin | 1,486,160 | 1,284,531 | 2,770,691 | 3,475,267 | (200,415 | ) | 3,274,852 | |||||||||||||||||||||||
| Other income (expense) | 594,944 | 2,115,295 | 2,710,239 | (81,241 | ) | (11,596 | ) | (92,837 | ) | |||||||||||||||||||||
| Net income (loss) pre tax | $ | 196,585 | $ | 2,744,571 | $ | 2,941,156 | $ | (2,551,576 | ) | $ | (38,600 | ) | $ | (2,590,176 | ) | |||||||||||||||
| Net income (loss) | $ | 196,585 | $ | 1,709,571 | $ | 1,906,156 | $ | (1,695,535 | ) | $ | (387,706 | ) | $ | (2,083,241 | ) | |||||||||||||||
The Company reported total sales, including sales from discontinued operations, of $9.14 million for the nine months ended June 30, 2012 compared to $8.32 million in the prior year.
The Company reported a net income from continuing operations of $197 thousand for the nine months ended June 30, 2012 compared to a net loss of $1.7 million in the prior year period. The Company reported a total net income, including discontinued operations, of $1.91 million for the nine months ended June 30, 2012 compared to a loss of $2.08 million in the prior year.
| For the three months ended June 30, 2012 | For the three months ended June 30, 2011 | |||||||||||||||||||||||||||||
| Continuing | Discontinued | Continuing | Discontinued | |||||||||||||||||||||||||||
| Operations | Operations | Total | Operations | Operations | Total | |||||||||||||||||||||||||
| Sales | $ | 1,055,485 | $ | - | $ | 1,055,485 | $ | 990,780 | $ | 114,088 | $ | 1,104,868 | ||||||||||||||||||
| Cost of goods sold | 194,049 | - | 194,049 | 589,091 | 96,967 | 686,058 | ||||||||||||||||||||||||
| Gross profit | 861,436 | - | 861,436 | 401,689 | 17,121 | 418,810 | ||||||||||||||||||||||||
| Sales, general & admin | 648,768 | - | 648,768 | 937,185 | (114,323 | ) | 822,862 | |||||||||||||||||||||||
| Other income (expense) | 629,254 | - | 629,254 | 12,295 | - | 12,295 | ||||||||||||||||||||||||
| Net income (loss) pre tax | $ | 841,921 | $ | - | $ | 841,921 | $ | (523,201 | ) | $ | 131,444 | $ | (391,757 | ) | ||||||||||||||||
| Net income (loss) | $ | 841,921 | $ | - | $ | 841,921 | $ | (332,182 | ) | $ | (90,272 | ) | $ | (422,454 | ) | |||||||||||||||
The Company reported total sales, including sales from discontinued operations, of $1.06 million for the fiscal quarter ended June 30, 2012 compared to $1.15 million in the prior year.
The Company reported a net income from continuing operations of $842 thousand for the fiscal quarter ended June 30, 2012 compared to a net loss of $332 thousand in the prior year period. The Company reported total net income, including discontinued operations, of $842 thousand for the fiscal quarter ended June 30, 2012 compared to a loss of $422 thousand in the prior year.
Contacts:
Monica McCracken-Tietjen, 952-215-3119
VP
of Finance and Administration
