Mr. Christopher Nutt reports
AUTOMODULAR CORPORATION: THIRD QUARTER 2013 RESULTS
Automodular Corp. had net earnings of $2.5-million or 12 cents per share for the quarter ended Sept. 30, 2013, compared with $4.2-million or 21 cents per share in the same period in 2012. The third quarter of 2012 included earnings from Automodular's contract with Vestas. For the nine months ended Sept. 30, 2013, and 2012, Automodular reports net earnings of $6.9-million and $12.3-million or 34 cents and 61 cents per share, respectively.
The results for the first three quarters of the year are summarized in the table (all figures in are in thousands except per share amounts).
Three months ended Nine months ended
Sept. 30, Sept. 30,
2013 2012 2013 2012
Sales $20,213 $35,359 $63,960 $88,878
Net earnings 2,469 4,243 6,880 12,262
Per share (basic) 0.12 0.21 0.34 0.61
The board of directors has declared a total dividend of 16 cents composed of a regular quarterly dividend of six cents and a special dividend of 10 cents payable Dec. 5, 2013, to shareholders of record Nov. 21, 2013.
We seek Safe Harbor.
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