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JPS Industries, Inc. First Quarter Results Show Seven Fold Operating Income Growth on Doubling of Revenues.

Publication: PR Newswire
Publication Date: 13-MAR-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
GREENVILLE, S.C., March 13 /PRNewswire-FirstCall/ -- JPS Industries, Inc. (Pink Sheets: JPST) today announced results for the first quarter ended January 26, 2008.

For the first quarter of fiscal 2008, JPS reported a net income of $0.9 million, or $0.09 per diluted share, on sales of $74.8 million compared with a net income of $33,000, or $0.00 per diluted share, on sales of $37.7 million in the first quarter of fiscal 2007. EBITDA, a non GAAP measure defined as operating income plus depreciation and amortization, increased almost four fold to $6.0 million from $1.6 million as compared to the prior year's first quarter.

Michael L. Fulbright, JPS's chairman, president and chief executive officer, stated, "We are very satisfied with our first quarter performance. First quarter is traditionally our smallest in terms of revenue and earnings because of the seasonal nature of a number...

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