SOURCE: Epolin, Inc.

July 14, 2011 14:59 ET

Epolin, Inc. Announces Results for the First Quarter of Fiscal 2012

NEWARK, NJ--(Marketwire - Jul 14, 2011) - EPOLIN, INC. (the "Company") (OTCBB: EPLN) (www.epolin.com) today announced results for the three months ended May 31, 2011.

For the three months ended May 31, 2011, sales were $991,000 as compared to $811,000 for the three months ended May 31, 2010, an increase of $180,000 or 22.2%. Gross profit, defined as sales less cost of sales, was $570,000 or 57.6% of sales for the three months ended May 31, 2011 compared to $413,000 or 50.9% of sales for the three months ended May 31, 2010, an increase of 6.7%.

Cost of sales was $421,000 for the three months ended May 31, 2011 which represented 42.5% of sales compared to $398,000 for the three months ended May 31, 2010 which represented 49.1% of sales. Selling, general and administrative expenses decreased to $268,000 or 27.0% of sales for the three months ended May 31, 2011 compared to $364,000 or 44.9% of sales for the three months ended May 31, 2010, a decrease of $96,000.

Operating income, in terms of absolute dollars, increased to $303,000 in the three months ended May 31, 2011 from $49,000 in the three months ended May 31, 2010, an increase of $254,000.

Net income after taxes was $179,000 or $0.01 per share for the three months ended May 31, 2011 as compared to $31,000 or $0.00 per share for the three months ended May 31, 2010.

About Epolin

Epolin, Inc. is a specialized chemical company primarily engaged in the manufacturing, marketing, research and development of infrared dyes, laser absorbing dyes and infrared dye formulations. The Company's business is heavily weighted towards the development, manufacture and sale of near infrared dyes. Applications for these dyes cover several markets that include laser protection, welding, sunglasses, optical filters, glazing and imaging and security inks and tagants. The Company also manufactures specialty chemicals for certain chemical manufacturers.

Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate," "believe," "estimate," "plan," "intend" and "expect" and similar expressions, as they relate to Epolin, Inc., or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, such factors discussed in reports and documents filed from time to time by the Company with the Securities and Exchange Commission. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.

Contact Information

  • For more detailed information, please contact:
    Murray S. Cohen
    Chairman of the Board
    James Ivchenko
    President
    Greg Amato
    Chief Executive Officer
    (973) 465-9495

    EPOLIN, INC.
    358-364 Adams Street
    Newark, New Jersey 07105