US-based Southwall Technologies Inc. have reported a net income of US$ 353,000, or US$ 0.05 per share, for the final quarter of 1995, which ended on 31 December. This compares with a net loss of US$ 2…
US-based Southwall Technologies Inc. have reported a net income of US$ 353,000, or US$ 0.05 per share, for the final quarter of 1995, which ended on 31 December. This compares with a net loss of US$ 2,721,000 (US$ 0.47 per share) for the same period in 1994. Revenues increased by 59% to US$ 9,118,000 in the fourth quarter from US$ 5,726,000 for the same period a year earlier. For the year, Southwall“s net income totalled US$ 633,000 or US$ 0.10 per share, on revenues of US$ 33,501,000. For 1994, the company recorded a net loss of US$ 3,888,000 (US$ 0.67 per share) on revenues of US$ 21,739,000. The 1995 results include the results of operations for two recently formed subsidiaries, Southwall Worldwide Glass Inc. and Southwall-Sunflex Inc. These new operations accounted for an increase in net product sales of US$ 300,000 for the fourth quarter and US$ 2,500,000 for the year. The company“s increased revenues are also attributable to growing sales of both its core energy conservation products and its electronic products. Net product sales of energy conservation products, including high performance glazing products, rose US$ 1,600,000 in the fourth quarter of 1995 from the same period the previous year. “We continue to be encouraged by our broad-based revenue growth,” said Martin M. Schwartz, president and chief executive officer, “and we are particularly pleased with the performance of our new anti-reflective film product for use on computer CRTs.” Southwall Technologies Inc. designs and produces thin film coatings that selectively absorb, reflect or transmit certain types of electromagnetic radiation. Southwall products are sold to the architectural, automotive, electronics and aerospace industries.