P&F Industries Revises Table Contained in Previously Issued Press Release

• Press Release
• Source: P & F Industries, Inc.
• On 8:00 am EDT, Wednesday August 19, 2009

MELVILLE, N.Y., Aug. 19, 2009 (GLOBE NEWSWIRE) -- P&F Industries, Inc. (Nasdaq:PFIN - News) yesterday issued a press release entitled "P&F Industries Reports Results for the Three and Six-Month Periods Ended June 30, 2009". Such press release contained a typographical error in the "Cost of sales" line item for the three-month period ended June 30, 2009 in a supplemental table. The revised table follows.

Related Quotes

Symbol	Price	Change
PFIN	2.85	-0.03

{"s" : "pfin","k" : "c10,l10,p20,t10","o" : "","j" : ""}

 P & F INDUSTRIES, INC. AND SUBSIDIARIES

 CONSOLIDATED CONDENSED
 STATEMENTS OF OPERATIONS

                          Three months ended        Six months ended
                                June 30,                June 30,
                         ---------------------   ---------------------
 (In thousands of $,
 except per share data)     2009        2008        2009        2008
                         ---------   ---------   ---------   ---------
                        (Unaudited) (Unaudited) (Unaudited) (Unaudited)

 Net revenue               $18,528     $25,554     $34,090     $49,879
 Cost of sales              13,817      17,499      24,748      34,151
                         ---------   ---------   ---------   ---------
 Gross profit                4,711       8,055       9,342      15,728
 Selling, general and
  administrative
  expenses                   5,288       6,702      10,343      13,191
                         ---------   ---------   ---------   ---------
 Operating (loss) income      (577)      1,353      (1,001)      2,537
 Interest expense              362         452         671       1,010
                         ---------   ---------   ---------   ---------
 (Loss) earnings before
  income taxes                (939)        901      (1,672)      1,527
 Income tax (benefit)
  expense                     (374)        406        (501)        670
                         ---------   ---------   ---------   ---------

 Net (loss) earnings         $(565)       $495     $(1,171)       $857
                         ---------   ---------   ---------   ---------


 (Loss) earnings per
  common share:

   Basic:
    Net (loss) earnings
     per common share      $(0.16)       $0.14      $(0.32)      $0.24
                         =========   =========   =========   =========

   Diluted:
    Net (loss) earnings
     per common share      $(0.16)       $0.13      $(0.32)      $0.23
                         =========   =========   =========   =========

 Weighted average common
  shares outstanding:

     Basic               3,614,562   3,637,277   3,614,562   3,637,370
                         =========   =========   =========   =========

     Diluted             3,614,562   3,713,440   3,614,562   3,694,338
                         =========   =========   =========   =========

P&F Industries, Inc.
Joseph A. Molino, Jr., Chief Financial Officer
631-694-9800
www.pfina.com