Business & Finance
Business and Finance
Business and Finance
Tue, April 26, 2011
Mon, April 25, 2011 Cohesant Inc. Reports Results For Fiscal Year Ended November 30, 2010
BEACHWOOD, Ohio--([ BUSINESS WIRE ])--Cohesant Inc. (Pink Sheets: COHY) today reported results for the fiscal year ended November 30, 2010.
For the fiscal year ended November 30, 2010 the Companya™s net sales were $12,684,871 compared to $10,880,739 in the prior year period. Operating expenses were $6,215,159 for fiscal 2010 compared to $6,164,882 in the prior year period. The Company had a net loss of ($2,373,443), or ($0.71) per share for fiscal 2010 compared to a net loss of ($1,030,360), or ($0.30) per share in the fiscal 2009 period. The Companya™s audited financial statements are available at its website cohesant.com.
Cohesant Inc., based in Beachwood, Ohio, is engaged in the protection and renewal of drinking water distribution systems and wastewater collection systems for municipal, industrial, commercial and residential infrastructure and the design, development, manufacture and sale of specialty coatings and equipment used to apply such coatings. The Company markets its products under numerous trade names including; AquataPoxy, CuraFlo, CuraPoxy, and Raven.
[Table follows]
| COHESANT INC. Summary Financial Data | ||||||||
| Twelve Months Ended November 30, 2010 | Twelve Months Ended November 30, 2009 | |||||||
| Net sales | $ | 12,684,871 | $ | 10,880,739 | ||||
| Loss before income taxes | (2,329,068 | ) | (998,122 | ) | ||||
| Net loss | $ | (2,373,443 | ) | $ | (1,030,360 | ) | ||
| Basic and diluted net loss per share | $ | (0.71 | ) | $ | (0.30 | ) | ||
| Average number of common shares outstanding basic and diluted | 3,365,886 | 3,393,572 | ||||||
Safe Harbor Statement
This communication contains forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, particularly those preceded by, followed by or that otherwise include the words abelieves,a aexpects,a aanticipates,a aintends,a aestimates,a or similar expressions. Forward-looking statements relating to expectations about future results or events are based upon information available as of todaya™s date, and there is no assumed obligation to update any of these statements. The forward-looking statements are not guarantees of future performance, and actual results may vary materially from the results and expectations discussed. These forward-looking statements are made subject to significant risks and uncertainties that could cause actual results to differ materially from those stated. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Cohesant Inc. undertakes no obligation to publicly release any revisions to these forward looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
