“Overall I appreciate the efforts of all our associates to finish the year successfully in a very unpredictable business environment.”As of August 31, 2011, the Company’s working capital was $37.1 million, including cash on hand of $15.0 million. The Company’s $10 million line of credit is fully available, while the balance of its unsecured term debt is $12.7 million. The table summarizes the Company’s financial results for the quarters and years ended August 31, 2011 and 2010.
|For the Three Months Ended||For the Years Ended|
|August 31,||August 31,|
|All figures in thousands, except per share figures||2011||2010||2011||2010|
|Costs and Expenses|
|Costs of products and services sold||21,586||22,368||80,317||74,828|
|Selling, general and administrative expenses||6,318||7,149||26,780||27,151|
|Other income (expense)||212||(122||)||230||(308||)|
|Income from continuing operations before income taxes||5,194||5,797||16,173||16,456|
|Income from continuing operations, net of taxes||3,620||3,849||10,931||10,726|
|Income from discontinued operations, net of taxes||-||519||-||1,790|
|Net income available to common shareholders, per common|
|and common equivalent share:|
|Net income per diluted share||$||0.40||$||0.49||$||1.22||$||1.41|
|Weighted average diluted shares outstanding||8,764||8,642||8,764||8,624|
Chase Corporation, founded in 1946, is a global manufacturer of tapes, laminates, sealants and coatings for high reliability applications.Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as “believe”; “expect”; “anticipate”; “should”; “planned”; “estimated” and “potential” among others. These forward-looking statements are based on Chase Corporation’s current expectations. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for such forward-looking statements. In order to comply with the terms of the "safe harbor," the Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance and that a variety of factors could cause the Company's actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements. The risks and uncertainties which may affect the operations, performance, development and results of the Company's business include, but are not limited to, the following: uncertainties relating to economic conditions; uncertainties relating to customer plans and commitments; the pricing and availability of equipment, materials and inventories; technological developments; performance issues with suppliers and subcontractors; economic growth; delays in testing of new products; the Company’s ability to successfully integrate acquired operations; rapid technology changes and the highly competitive environment in which the Company operates. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.