Burnham Stock Increases
August 20, 2007
LANCASTER, Pa. - Burnham Holdings Inc. reported its financial results for the period ended July 1, 2007, and declared a quarterly common stock dividend of $0.17 per share. Second-quarter and year-to-date sales were $47.9 million and $94.5 million, respectively. Actual 2006 second quarter and year-to-date sales were $42.7 million and $86 million, respectively.
“Both portions of our business, residential and commercial, are reporting higher sales for the quarter and for the year over the comparable periods of last year,” said the company. “Residential products sales increased marginally for both periods as this portion of the business continues to track the general trend of the overall industry.”
The net gain for the second quarter was $197 thousand or $0.05 per share. According to Burnham, the $4.5 million improvement in financial performance during the first half of 2007, compared to 2006, has been a combination of higher sales levels, increased product pricing over the last two years, lower interest costs as a result of reduced debt levels, and the favorable impact of cost reduction actions announced in 2006.
For more information, visit www.burnham.com.
Publication Date: 08/20/2007