As of February 29, 2012, the Company’s working capital was $35.4 million, including cash on hand of $12.4 million. The outstanding balance on the Company’s unsecured bank term debt is $9.0 million.The following table summarizes the Company’s financial results for the three and six months ended February 29, 2012 and February 28, 2011.
|For the Three Months Ended||For the Six Months Ended|
|All figures in thousands, except per share figures||February 29, 2012||February 28, 2011||February 29, 2012||February 28, 2011|
|Costs and Expenses|
|Costs of products and services sold||21,022||17,441||43,021||37,501|
|Selling, general and administrative expenses||6,513||6,594||13,505||13,182|
|Other income (expense)||(44||)||(79||)||397||(56||)|
|Income before income taxes||1,842||2,147||5,422||6,789|
|Net income available to common shareholders, per common and common equivalent share:||$||0.13||$||0.16||$||0.39||$||0.48|
|Weighted average diluted shares outstanding||8,791||8,757||8,774||8,753|
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.