EXHIBIT 99.1 |
O.I. Corporation Announces Results for Third Quarter 2009
College Station, Texas, November 12, 2009 – O.I. Corporation (NASDAQ: OICO) today announced its results for the third quarter and the first nine months of 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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2009 which is available on our website at www.oico.com or the SEC’s website at www.sec.gov.
O.I. CORPORATION | ||||||||||||||||
FINANCIAL HIGHLIGHTS | ||||||||||||||||
(in thousands, except earnings per share amounts) | ||||||||||||||||
Income Statement Data | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30 | September 30 | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
Net revenues | $ | 4,889 | $ | 6,621 | $ 14,386 | $ | 21,992 | |||||||||
Operating Income/(Loss) | $ | 285 | $ | 252 | $ | (469) | $ | 963 | ||||||||
Income/(Loss) before income taxes | $ | 293 | $ | (94) | $ | (434) | $ | 481 | ||||||||
Provision/(Benefit) for income taxes | $ | 81 | $ | (236) | $ | (163) | $ | (92) | ||||||||
Net income/(Loss) | $ | 212 | $ | 142 | $ | (271) | $ | 573 | ||||||||
Basic earnings/(loss) per share | $ | 0.09 | $ | 0.06 | $ | (0.12) | $ | 0.22 | ||||||||
Diluted earnings/(loss) per share | $ | 0.09 | $ | 0.06 | $ | (0.12) | $ | 0.22 | ||||||||
Balance Sheet Data | ||||||||
September 30, December 31, | ||||||||
Assets | 2009 | 2008 | ||||||
Cash and investments | $ | 4,312 | $ | 3,434 | ||||
Accounts receivable | 4,197 | 6,195 | ||||||
Inventories | 5,484 | 5,754 | ||||||
Other current assets | 1,553 | 1,554 | ||||||
Total current assets | 15,546 | 16,937 | ||||||
Long-term assets | 4,318 | 4,667 | ||||||
Total assets | $ | 19,864 | $ | 21,604 | ||||
Liabilities and Stockholders' Equity | ||||||||
Total liabilities | 2,423 | 3,670 | ||||||
Stockholders' equity: | 17,441 | 17,934 | ||||||
Total liabilities and stockholders' equity | $ | 19,864 | $ | 21,604 | ||||
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 |