INCON shareholders would receive approximately $18 million, or $3.
Brooks, President & CEO of INCON, said; "We are excited about joining Franklin Fueling Systems' strong lineup, alongside the FE Petro, EBW and APT brands.
The award provides that all other PTM related claims against INCON are extinguished.
Brooks, INCON's President & CEO stated: "We are glad to finally have this matter behind us and that the Panel ruled the multi-million dollar counterclaims against INCON had no merit.
INCON operated profitably in every month during the second quarter and continues to invest heavily in market and product development.
INCON REPORTS OPERATING RESULTS Six Months Ended Quarters Ended 06/30/2001 07/01/2000 06/30/2001 07/01/2000 Net Sales $ 4,820,897 $4,777,818 $2,614,590 $2,279,502 Gross Margins 2,506,964 2,348,266 1,366,356 1,116,839 Gross Margin % 52% 49% 52% 49% Net income $ 67,389 $ 57,140 $ 94,267 $ 28,237 Basic earnings per share $0.
This shortfall accounts for essentially all of the overall INCON
sales decline compared to the first quarter of 2000.
REPORTS OPERATING RESULTS Twelve Months Ended Quarters Ended 12/31/00 12/31/99 12/31/00 12/31/99 Net Sales $ 9,941,378 $12,904,697 $ 2,614,117 $ 2,679,308 Gross Margins 5,150,798 6,756,607 1,428,853 1,318,497 Gross Margin % 52% 52% 55% 49% Net income $ 435,271 $ 798,078 $ 181,157 $ (4,803) Basic earnings per share $ 0.
REPORTS OPERATING RESULTS NINE MONTHS ENDED QUARTERS ENDED 09/25/99 09/26/98 09/25/99 09/26/98 Net Sales $10,225,390 $11,371,108 $ 2,583,901 $ 4,451,620 Gross Margins 5,438,111 5,595,518 1,310,649 2,383,838 Gross Margin % 53.
Brooks also stated, "We've made important progress in the third quarter on a number of fronts; On September 18th, INCON
announced a stock buy back program where the Board of Directors authorized the Company to purchase up to $250,000 of it's common stock, from time to time, on the open market or in negotiated transactions.
is a supplier of measurement instrumentation to the petroleum and power utility industries.
, Amex symbol ITC) announces today, the election of Directors and the approval of all resolutions listed in this years Proxy Statement and the expiration of its Tender Offer to buy back the Company's common shares On Thursday, April 30, 1998, INCON
held its annual Shareholders meeting at the Sheraton Tara Hotel, South Portland, Maine.