MELVILLE, N.Y., Aug. 19, 2009 (GLOBE NEWSWIRE) -- P&F Industries, Inc. (Nasdaq:PFIN) yesterday issued a press release entitled "P&F Industries Reports Results for the Three and Six-Month Periods Ended June 30, 2009". Such press release contained a typographical error in the "Cost of sales" line item for the three-month period ended June 30, 2009 in a supplemental table. The revised table follows.
P & F INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED
STATEMENTS OF OPERATIONS
Three months ended Six months ended
June 30, June 30,
--------------------- ---------------------
(In thousands of $,
except per share data) 2009 2008 2009 2008
--------- --------- --------- ---------
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Net revenue $18,528 $25,554 $34,090 $49,879
Cost of sales 13,817 17,499 24,748 34,151
--------- --------- --------- ---------
Gross profit 4,711 8,055 9,342 15,728
Selling, general and
administrative
expenses 5,288 6,702 10,343 13,191
--------- --------- --------- ---------
Operating (loss) income (577) 1,353 (1,001) 2,537
Interest expense 362 452 671 1,010
--------- --------- --------- ---------
(Loss) earnings before
income taxes (939) 901 (1,672) 1,527
Income tax (benefit)
expense (374) 406 (501) 670
--------- --------- --------- ---------
Net (loss) earnings $(565) $495 $(1,171) $857
--------- --------- --------- ---------
(Loss) earnings per
common share:
Basic:
Net (loss) earnings
per common share $(0.16) $0.14 $(0.32) $0.24
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Diluted:
Net (loss) earnings
per common share $(0.16) $0.13 $(0.32) $0.23
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Weighted average common
shares outstanding:
Basic 3,614,562 3,637,277 3,614,562 3,637,370
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Diluted 3,614,562 3,713,440 3,614,562 3,694,338
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