4 March 1999: Selas Corp. of the US has announced an increase in net sales for the final quarter of 1998 compared to the final quarter of 1997. However, it has reported a decrease in net sales for th…
4 March 1999: Selas Corp. of the US has announced an increase in net sales for the final quarter of 1998 compared to the final quarter of 1997. However, it has reported a decrease in net sales for the whole of 1998 compared to the whole of 1997. Net sales in the three months to 31 December 1998 reached US$ 27.26 million, compared to US$ 24.83 million in the same period in 1997. Income before tax was US$ 239,000, compared to US$ 295,000 in the year ago period, while net income to 12 December 1998 was US$ 367,000 (versus US$ 707,000). Basic EPS was US$ 0.07 (against US$ 0.14). For the full year to 31 December 1998, Selas achieved net sales of US$ 99.56 million, against US$ 111.17 million in 1997. Income before tax was US$ 3.95 million, down from US$ 6.36 million in 1997, while net income was US$ 3.61 (versus US$ 4.39 million). Basic EPS for the whole of 1998 was US$ 0.69 (versus US$ 0.84).