SOURCE: O.I. Corporation

O.I. Corporation

November 12, 2009 13:14 ET

O.I. Corporation Announces Results for Third Quarter 2009

COLLEGE STATION, TX--(Marketwire - November 12, 2009) - O.I. Corporation (NASDAQ: OICO) today announced its results for the third quarter and the first nine months of 2009. These results are summarized below.

The limited information contained in this press release is not adequate information upon which to make an informed investment decision. Accordingly, we urge investors to read our Quarterly Report on Form 10-Q for the quarter ended September 30, 2009 which is available on our website at www.oico.com or the SEC's website at www.sec.gov.

                             O.I. CORPORATION
                           FINANCIAL HIGHLIGHTS
             (in thousands, except earnings per share amounts)


                                    Three Months Ended  Nine Months Ended
Income Statement Data                  September 30        September 30
                                      2009      2008      2009      2008
                                    --------- --------  --------  --------
Net revenues                        $   4,889 $  6,621  $ 14,386  $ 21,992
Operating Income/(Loss)             $     285 $    252  $   (469) $    963
Income/(Loss) before income taxes   $     293 $    (94) $   (434) $    481
Provision/(Benefit) for income
 taxes                              $      81 $   (236) $   (163) $    (92)
Net income/(Loss)                   $     212 $    142  $   (271) $    573

Basic earnings/(loss) per share     $    0.09 $   0.06  $  (0.12) $   0.22
Diluted earnings/(loss) per share   $    0.09 $   0.06  $  (0.12) $   0.22
                                    --------- --------  --------  --------


Balance Sheet Data
                                                September 30, December 31,
Assets                                              2009          2008
                                                ------------- -------------
Cash and investments                            $       4,312 $       3,434
Accounts receivable                                     4,197         6,195
Inventories                                             5,484         5,754
Other current assets                                    1,553         1,554
                                                ------------- -------------
   Total current assets                                15,546        16,937

Long-term assets                                        4,318         4,667
                                                ------------- -------------
   Total assets                                 $      19,864 $      21,604
                                                ============= =============

Liabilities and Stockholders' Equity
                                                ------------- -------------
Total liabilities                                       2,423         3,670

Stockholders' equity:                                  17,441        17,934
                                                ------------- -------------
   Total liabilities and stockholders' equity   $      19,864 $      21,604
                                                ============= =============

About O.I. Corporation:

O.I. Corporation, dba OI Analytical, develops, manufactures, sells, and services analytical instrumentation that detects, measures, analyzes, and monitors chemicals in liquids, solids, and gases. Providing products used to digest, extract, and separate components of chemical mixtures, the Company designs application-specific solutions for various industries including environmental testing, defense, and petrochemical. Headquartered in College Station, Texas, the Company's products are sold worldwide.

Visit the Company's web site at: http://www.oico.com

Contact Information

  • Investor Relations:
    Bruce Lancaster
    Chief Executive Officer &
    Chief Financial Officer
    979.690.1711