Chase Corporation Announces Record Quarter
Revenues of $39.6 Million
Earnings Per Share of $0.48
July 08, 2010 04:18 PM Eastern Daylight Time
BRIDGEWATER, Mass.--(EON: Enhanced Online News)--Chase Corporation(NYSE Amex: CCF) today
reported financial results for its best quarter ever. Revenues of $39.6 million for the third fiscal quarter ended May
31, 2010 represented an increase of $14.5 million or 58% compared to $25.1 million in the third quarter of last
year. Net income of $4.4 million increased $3.5 million or 389% from $0.9 million in the prior year period. Earnings
per diluted share of $0.48 in the third quarter of fiscal 2010 increased $0.38 from $0.10 per share in fiscal 2009.
For the nine months ended May 31, 2010 revenues increased $20.5 million or 26% to $99.7 million compared to
$79.2 million in the prior year period. Net income was $8.1 million or $0.90 per diluted share for the year to date
period compared to $3.6 million or $0.40 per diluted share in the comparable period in fiscal 2009.
Peter R. Chase, Chairman and Chief Executive Officer commented, “Electronic coatings sales to all global markets
led the charge during the quarter with Chase EMS also posting substantial gains. Our two recent acquisitions, C.I.M.
and Serviwrap were also strong contributors. We continue to seek appropriate candidates for our M&A program
while at the same time we are increasing investment in market and product development.
“I would like to thank all Chase Corporation employees for their efforts in achieving these results. Our people are the
key to our success. Their contributions and the recovery in several key markets have positioned us for a solid finish
to the fiscal year with annual revenues and profits expected to be significantly ahead of 2009.”
The following table summarizes the Company’s financial results for the quarter and nine months ended May 31,
2010 and 2009.
Chase Specialized Manufacturing
For the Three Months
Ended
For the Nine Months
Ended
May 31,
May 31,
All figur