Polymer Research Corp. of America reports financial results

Business Wire, Nov 7, 1995

BROOKLYN, New York--(BUSINESS WIRE)--Nov. 7, 1995--Polymer Research Corp. of America (NASDAQ:PROA) today reported results for the third quarter of 1995.

Polymer's third quarter revenues were $1,241,527, an increase of 7.0%, over revenues in the third quarter of 1994. Net income for the quarter was $90,771 ($.07 per share) compared with $37,564 ($.03) for last year's third quarter.

For the nine months ended Sept. 30, 1995, Polymer reported net income of $302,508 ($.24 per share) on revenues of $3,858,862 compared with $263,188 ($.21 per share) on revenues of $3,568,847 in the same period last year.

Earnings per share for the three and nine months ended Sept. 30, 1994 have been restated to give effect to the 10% stock dividend and a 5-for-4 stock split earlier this year.

Carl Horowitz, the company's president and chairman, stated that he was pleased with the company's continued revenue growth, which he attributed to the increased marketing efforts undertaken by the company during the past several years.

Polymer Research Corp. of America is engaged primarily in research in the area of chemical grafting on a contract basis for a wide range of manufacturing and other companies.

CONTACT: Polymer Research Corp., New York

Carl Horowitz, 718/444-4300