P&F Industries Reports Results For The Three And Six-Month Periods Ended June 30, 2010
MELVILLE, N.Y., Aug. 12, 2010 (GLOBE NEWSWIRE) -- P&F Industries, Inc. (Nasdaq:PFIN) today announced its results of operations for the three and six-month periods ended June 30, 2010.
P&F Industries, Inc. reported revenue from continuing operations of $13,320,000 and $24,467,000, for the three and six-month periods ended June 30, 2010, respectively, compared to $14,073,000 and $26,294,000, for the same periods in 2009. For the three-month period ended June 30, 2010, the Company reported income after taxes from continuing operations of $269,000, compared to a loss after taxes from continuing operations of $71,000 during the three-month period ended June 30, 2009. For the six month period ended June 30, 2010, the Company reported a loss after taxes from continuing operations of $438,000, compared to an after tax loss from continuing operations of $410,000 in the same period a year ago. The Company noted that during the six-month period ended June 30, 2010 it incurred substantial legal and consulting fees primarily due to its efforts to resolve certain banking related issues, which aggregated approximately $555,000.
The Company reported basic and diluted earnings (loss) per common share of:
|For the three month period||For the six month period|
|ended June 30||ended June 30|
|Basic and diluted earnings (loss) per share|
|Continuing operations||$ 0.07||$ (0.02)||$ (0.12)||$ (0.11)|
|Net (loss)||$ (2.94)||$ (0.16)||$ (3.61)||$ (0.32)|
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