Thursday February 17, 8:25 am Eastern
Time
SOURCE: MOCON, Inc.
MOCON Announces 25% Increase
in Earnings
and Record Sales
MINNEAPOLIS,
Feb. 17 /PRNewswire/ -- MOCON, Inc. (Nasdaq: MOCO -
news) today announced that 1999
earnings increased
25% compared to 1998 on record annual sales of
$17,843,000.
Net income increased 25% in 1999 to $2,899,000
compared to $2,327,000 for 1998. Sales for 1999
were
$17,843,000 up 18% compared to $15,146,000 in 1998. Net
income per share was 46 cents for 1999, up
24%
compared to 37 cents per share in 1998. Fourth quarter
sales were $4,492,000 up 14% compared to
$3,942,000
during the fourth quarter of 1998. Fourth quarter 1999
net income was $736,000 or 12 cents
per
share.
``We are very pleased with such a strong year in sales
and earnings,'' commented President,
Robert
Demorest. ``We feel we are in tune with the needs of our
customers, and the record revenue numbers provide
us with
confidence that we are on the right track.''
MOCON is
a leading provider of consulting, services, and
systems to assess materials and processes
for
companies worldwide. See www.mocon.com for more
information.
This press release contains forward-looking statements
that involve a number of risks and
uncertainties.
Important factors that could cause actual results to differ
materially from those indicated by such
forward-looking
statements include but are not limited to uncertainties
relating to competition and technological
change,
setbacks in product development programs,
slower-than-anticipated customer acceptance of new
products,
dependence on certain key industries, and risk associated
with the Company's acquisition strategy
and
international operations, and other factors set forth in the
Company's filings with the Securities and
Exchange
Commission.
MOCON's shares are traded on the Nasdaq Stock Market
under the symbol MOCO.