SOURCE: Epolin, Inc.

January 17, 2011 11:37 ET

Epolin, Inc. Announces Results for the Third Quarter of Fiscal 2011

NEWARK, NJ--(Marketwire - January 17, 2011) - EPOLIN, INC. (the "Company") (OTCBB: EPLN) (www.epolin.com) today announced results for the three and nine months ended November 30, 2010.

For the three months ended November 30, 2010, sales were $802,000 as compared to $806,000 for the three months ended November 30, 2009, a decrease of $4,000 or 0.4%. Sales increased to $2,284,000 for the nine months ended November 30, 2010 from $2,241,000 for the nine months ended November 30, 2009, an increase of $43,000 or 1.9%. Gross profit, defined as sales less cost of sales, was $372,000 or 46.4% of sales for the three months ended November 30, 2010 compared to $461,000 or 56.7% of sales for the three months ended November 30, 2009. For the nine months ended November 30, 2010, gross profit was $1,107,000 or 48.5% of sales compared to $1,290,000 or 57.6% of sales for the nine months ended November 30, 2009.

The Company suffered an operating loss of $61,000 for the three months ended November 30, 2010 compared to operating income of $199,000 for the three months ended November 30, 2009, a decrease of $260,000. Operating income was $50,000 for the nine months ended November 30, 2010 compared to $475,000 for the nine months ended November 30, 2009, a decrease of $425,000. The Company had a net loss after taxes of $39,000 or $0.00 per share for the three months ended November 30, 2010 as compared to net income after taxes of $127,000 or $0.01 per share for the three months ended November 30, 2009. For the nine months ended November 30, 2010, net income after taxes was $40,000 or $0.00 per share as compared to net income after taxes of $314,000 or $0.03 per share for the nine months ended November 30, 2009.

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.




                    EPOLIN, INC. AND SUBSIDIARY
           CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
           NINE MONTHS ENDED NOVEMBER 30, 2010 AND 2009

                                                    2010           2009
                                                ------------   -----------
Sales                                           $  2,283,900     2,240,660
                                                ------------   -----------
Cost of sales and expenses:
  Cost of sales                                    1,177,317       951,132
  Selling, general and administrative              1,056,547       814,658
                                                ------------   -----------
    Total                                          2,233,864     1,765,790
                                                ------------   -----------
Operating income                                      50,036       474,870
                                                ------------   -----------
Other income:
  Rental income                                           --         4,500
  Interest                                             7,977        20,517
                                                ------------   -----------
    Total                                              7,977        25,017
                                                ------------   -----------
Income before taxes                                   58,013       499,887

Income taxes                                          18,041       185,533
                                                ------------   -----------
Net income                                      $     39,972       314,354
                                                ============   ===========
Per share data:
  Basic earnings per common share               $         --          0.03
                                                ============   ===========
  Fully diluted earnings per common share       $         --          0.03
                                                ============   ===========
  Weighted average number of common shares
   outstanding                                    12,185,992    12,080,847
                                                ============   ===========
  Fully diluted number of common shares
   outstanding                                    12,203,092    12,083,747
                                                ============   ===========






                    EPOLIN, INC. AND SUBSIDIARY
           CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
           THREE MONTHS ENDED NOVEMBER 30, 2010 AND 2009

                                                    2010           2009
                                                ------------   -----------
Sales                                           $    802,397       805,913
                                                ------------   -----------
Cost of sales and expenses:
  Cost of sales                                      430,135       344,939
  Selling, general and administrative                432,792       262,402
                                                ------------   -----------
    Total                                            862,927       607,341
                                                ------------   -----------
Operating income (loss)                              (60,530)      198,572
                                                ------------   -----------
Other income:
  Interest                                             2,283         5,893
                                                ------------   -----------
    Total                                              2,283         5,893
                                                ------------   -----------
Income (loss) before taxes                           (58,247)      204,465

Income taxes                                         (19,130)       77,457
                                                ------------   -----------
Net income (loss)                               $    (39,117)      127,008
                                                ============   ===========
Per share data:
  Basic earnings per common share               $         --          0.01
                                                ============   ===========
  Fully diluted earnings per common share       $         --          0.01
                                                ============   ===========
  Weighted average number of common shares
   outstanding                                    12,239,589    12,109,834
                                                ============   ===========

  Fully diluted number of common shares
   outstanding                                    12,239,589    12,112,734
                                                ============   ===========

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