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Document Preview Gibraltar Packaging Group, Inc. Announces Results for First Quarter of Fiscal 2004 |
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Title: |
Gibraltar Packaging Group, Inc. Announces Results for First Quarter of Fiscal 2004 |
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Date: |
2003 |
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$31 |
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#200894 |
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[LOGO GIBRALTAR PACKAGING GROUP, INC.]
Contact: Leslie Schroeder
402-462-7517
GIBRALTAR PACKAGING GROUP, INC.
ANNOUNCES
RESULTS FOR FIRST QUARTER OF FISCAL 2004
Hastings, Nebraska - November 12, 2003 - Gibraltar Packaging Group, Inc.
(OTCBB:PACK) today announced the results for its first quarter of fiscal 2004.
Gibraltar reported net income for its first quarter of fiscal 2004 of $0.7
million or $0.14 per share. This compares to net income in the first quarter of
fiscal 2003 of $0.7 million or $0.14 per share.
Net sales decreased to $17.0 million in the first quarter of fiscal 2004,
compared to $17.3 million in the first quarter of fiscal 2003. Operating income
decreased to $1.3 million for the first quarter of fiscal 2004, compared to $1.4
million for the corresponding period of fiscal 2003.
"Gibraltar, along with the rest of the packaging industry, continues to be
affected by overcapacity," said Walter Rose, Chairman and Chief Executive
Officer. "Our first quarter results reflect the increasingly competitive
environment we are facing. However, we are diligently working to bring on new
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