Health & Fitness
Health and Fitness
Health and Fitness
Mon, October 24, 2011Sat, October 22, 2011Fri, October 21, 2011Thu, October 20, 2011Wed, October 19, 2011Tue, October 18, 2011Mon, October 17, 2011Sun, October 16, 2011Sat, October 15, 2011Fri, October 14, 2011Thu, October 13, 2011Wed, October 12, 2011Tue, October 11, 2011Mon, October 10, 2011Sun, October 9, 2011Sat, October 8, 2011Fri, October 7, 2011Greystone Logistics Announces Preliminary Financial Results for 1st Quarter
Published in Health and Fitness on Tuesday, October 18th 2011 at 4:00 GMT by Market Wire
Greystone Logistics Announces Preliminary Financial Results for 1st Quarter -- TULSA, Okla., Oct. 18, 2011 /PRNewswire/ --
Greystone Logistics Announces Preliminary Financial Results for 1st Quarter
TULSA, Okla., Oct. 18, 2011 /PRNewswire/ -- (OTCBB: GLGI) Greystone Logistics announced preliminary financial results for the quarter ending August 31, 2011.
Sales for the quarter were $5,784,000 with quarterly operating profits of $727,000, depreciation of $277,000 and net income of $458,000. Net income available to common stockholders was $463,000 or $0.02 per share.
Company CFO Bill Rahhal commented, "Greystone is on track with our business plan for corporate year 2012. Reducing our bank debt and all obligations while making prudent and necessary capital expenditures for continued growth are paramount in our management plan. A recent $1.2 million dollar purchase order for the Intermediary Bulk Container pallet will buoy our 2nd quarter's revenue. Plant operations, finance and accounting, and senior management are working diligently to provide innovative solutions to logistical challenges with world class recycled plastic pallets for our customers and achieve consistent results our shareholders have waited patiently for."
Greystone Logistics is a growing manufacturing and leasing company that reprocesses and sells recycled plastic and designs, manufactures, sells and leases high quality plastic pallets that provide logistical solutions needed by a wide range of industries such as the food and beverage, automotive, chemical, pharmaceutical and consumer product industries. Greystone's technology, including that used in its injection molding equipment, proprietary blend of recycled petrochemical resins and patented pallet designs allow production of high quality pallets quickly and at lower costs than many processes. The recycled plastic for its pallets helps control material costs while reducing environmental waste and provides cost advantages over users of virgin resin. Excess plastic not used in production of pallets is reprocessed for resale.
Contact:
Warren F. Kruger
President/CEO
Corporate Office
1613 East 15th Street
Tulsa, Oklahoma 74120
(918) 583-7441
(918) 583-7442 (FAX)
[ http://www.greystonelogistics.com ]
SOURCE Greystone Logistics
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