EXHIBIT 99.1
O.I. Corporation Announces Results for Third Quarter of 2010
College Station, Texas—November 3, 2010—O.I. Corporation (NASDAQ: OICO) today announced its results for the three months ended September 30, 2010. 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 filed with the Securities Exchange Commission (SEC) on March 15, 2010. Additional information regarding our third quarter performance is available in our Quarterly Report on Form 10-Q which we filed with the SEC earlier today. This document is available on our website at www.oico.com/oicorp and the SEC’s website at www.sec.gov.
O.I. CORPORATION
FINANCIAL HIGHLIGHTS
(in thousands, except earnings per share amounts)
Three Months Ended September 30 | ||||||||
2010 | 2009 | |||||||
Net revenues | $ | 6,434 | $ | 4,889 | ||||
Operating income (loss) | 887 | 285 | ||||||
Income before income taxes | 900 | 293 | ||||||
Provision for income taxes | 338 | 81 | ||||||
Net income | 562 | 212 | ||||||
Basic earnings per share | 0.24 | 0.09 | ||||||
Diluted earnings per share | 0.24 | 0.09 |
Balance Sheet Data | ||||||||
September 30, | December 31, | |||||||
2010 | 2009 | |||||||
Assets | ||||||||
Cash and investments | $ | 6,340 | $ | 4,614 | ||||
Accounts receivable | 5,532 | 4,371 | ||||||
Inventories | 5,318 | 5,657 | ||||||
Other current assets | 1,314 | 1,828 | ||||||
Total current assets | 18,504 | 16,470 | ||||||
Long-term assets | 3,884 | 4,117 | ||||||
Total assets | $ | 22,388 | $ | 20,587 | ||||
Liabilities and Stockholders' Equity | ||||||||
Total liabilities | $ | 3,670 | $ | 2,895 | ||||
Stockholders' equity: | 18,718 | 17,692 | ||||||
Total liabilities and stockholders' equity | $ | 22,388 | $ | 20,587 |
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.
Visit the Company's web site at:
http://www.oico.com
Investor Relations:
Bruce Lancaster
Chief Executive Officer &
Chief Financial Officer
979.690.1711