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Video Display Corporation Reports Second Quarter And First Half Fiscal 2011 Financial Results

 

Video Display Corporation and Subsidiaries
Consolidated Statements of Income (unaudited)
(in thousands, except per share data)
     
  Three Months Ended August 31, Six Months Ended August 31,
  2010 2009 2010 2009
         
Net sales $ 22,114 $ 16,840  $ 42,451  $ 33,191
         
Cost of goods sold 14,704 10,872 28,604 21,385
         
Gross profit 7,410 5,968 13,847 11,806
         
Operating expenses        
Selling and delivery 1,954 1,740 3,822 3,523
General and administrative 3,355 3,938 6,750 7,882
  5,309 5,678 10,572 11,405
         
Operating profit 2,101 290 3,275 401
         
Other income (expense)        
Interest expense  (287)  (303) (589) (503)
Other, net  124  32 189 333
   (163)  (271) (400) (170)
         
Income before income taxes 1,938 19   2,875 231
Income tax expense  594 (7) 954 53
         
Net income $   1,344 $    26 $   1,921  $    178
         
Net income per share – basic   $ .16   $ .00   $ .23   $  .02
         
Net income per share – diluted   $ .15   $ .00   $ .22   $  .02
         
Average shares outstanding - basic   8,365   8,372   8,365   8,482
         
Average shares outstanding - diluted   8,680   8,680   8,690   8,781
CONTACT:  Video Display Corporation
          Ronald D. Ordway
          770/938-2080

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