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

Bolt Technology Announces Fourth Quarter And Full Year Results And Increased Quarterly Dividend

NORWALK, Conn., Aug. 14, 2013 (GLOBE NEWSWIRE) -- Bolt Technology Corporation (Nasdaq:BOLT) today announced financial results for the fourth quarter and fiscal year ended June 30, 2013.

Sales for the fourth quarter of fiscal year 2013, the three months ended June 30, 2013, amounted to $17,921,000, compared with $15,457,000 for the fourth quarter of fiscal year 2012. Net income for the fourth quarter of fiscal year 2013 amounted to $1,914,000 ($0.22 per share) compared to a net loss of $2,269,000 ($0.26 per share) in the fourth quarter of fiscal year 2012.    

For the fiscal year ended June 30, 2013, sales amounted to $57,842,000, compared with $52,610,000 for fiscal year 2012. Net income for fiscal year 2013 amounted to $6,700,000 ($0.78 per share) compared to $1,982,000 ($0.23 per share) in fiscal year 2012. 

In the fourth quarter of fiscal years 2013 and 2012, Bolt recorded non-tax deductible charges of $500,000 and $4,500,000, respectively, for additional estimated contingent earnout payments relating to the acquisition of SeaBotix Inc. These charges reflect estimated contingent earnout payments payable by the Company through the end of the earnout period ending December 31, 2014.

Raymond M. Soto, Bolt's Chairman and CEO, commented, "We are pleased to report that our consolidated sales increased 10% in fiscal year 2013 to $57,842,000 from $52,610,000 in fiscal year 2012 and our income before income taxes and contingent earnout charges increased 14% to $10,691,000 from $9,377,000 last year. The improved results are mainly attributable to our marine seismic data acquisition businesses, which reported a 16% increase in sales and income before taxes. The fiscal year 2013 financial results of our underwater robotic vehicles business were slightly below fiscal year 2012 levels."

Mr. Soto concluded, "Fiscal year 2013 was a successful year for our Company and we look forward to continued success in fiscal year 2014."

1 of 3

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