This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

P&F Industries Reports Improved Results For The Three And Nine-Month Periods Ended September 30, 2010

MELVILLE, N.Y., Nov. 10, 2010 (GLOBE NEWSWIRE) -- P&F Industries, Inc. (Nasdaq:PFIN) today announced its results of operations for the three and nine-month periods ended September 30, 2010.

P&F Industries, Inc. reported revenue from continuing operations of $14,267,000 and $38,734,000, respectively, for the three and nine-month periods ended September 30, 2010, compared to $13,144,000 and $39,438,000, respectively, for the same periods in 2009. For the three-month period ended September 30, 2010, the Company reported income after taxes from continuing operations of $632,000, compared to $56,000 during the three-month period ended September 30, 2009. For the nine month period ended September 30, 2010, the Company reported income after tax from continuing operations of $194,000, compared to a loss from continuing operations of $354,000 in the same period a year ago.

The Company reported basic and diluted earnings (loss) per common share of:

  For the three month period ended September 30 For the nine month period ended September 30
  2010 2009 2010 2009
         
Basic and diluted earnings (loss) per common share        
Continuing operations  $ 0.17 $ 0.02 $ 0.05 $ (0.10)
Discontinued operations  0.06 (0.23) (3.44) (0.44)
Net income (loss) $ 0.23 $ (0.21) $ (3.39) $ (0.54)

Richard Horowitz, the Company's Chairman of the Board, Chief Executive Officer and President stated, "The improvement in our after tax profit from continuing operations this quarter compared to the same period in 2009, is primarily due to increased revenue and cost reductions throughout our organization that started over a year ago.  It is our objective to maintain the momentum created this quarter into the future." Mr. Horowitz further commented, "I believe the new credit facility entered into with Capital One Leverage Finance, will provide added financial flexibility and stability to the Company, due primarily to greater application of our collateral as well as new extended terms on our long term debt. As a result, I believe the Company will be better positioned to take advantage of opportunities as the economy improves."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs