SOURCE: The Alpine Group, Inc.

May 15, 2013 10:03 ET

The Alpine Group, Inc. Posts First Quarter 2013 Results

EAST RUTHERFORD, NJ--(Marketwired - May 15, 2013) - The Alpine Group, Inc. ("Alpine") (PINKSHEETS: APNI) today posted its unaudited financial statements for the three months ended March 31, 2013 to its website (www.alpine-group.net).

For the first quarter 2013 revenues decreased by $0.7 million from $41.1 to $40.4 million due primarily to a comparative decrease in its Posterloid subsidiary's revenue.

The table below reflects Alpine's net income for the three month periods ended March 31, 2013 and 2012, respectively.

           
(millions)          
    Quarter ended March 31,  
    2013   2012  
Net sales   $ 40.4   $ 41.1  
Cost of goods sold     38.5     40.4  
Gross profit (loss)     1.9     0.7  
Selling, general and administrative expenses     1.1     1.3  
Operating income (loss)   $ 0.8   $ (0.6 )
               
Net income (loss)   $ 0.6   $ (0.4 )
               

Steven S. Elbaum, Alpine's Chairman and Chief Executive Officer, stated that, "Alpine recently filed its Certificate of Dissolution with the state of Delaware consistent with its approved Plan of Liquidation. Relevant disclosures will be made as the Plan is implemented."

All statements in this press release other than statements of historical fact are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in this press release. The forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligations to release publicly any update or revision to any forward-looking statement contained herein if there are any changes in conditions or circumstances on which any such forward-looking statement is based.

The Alpine Group, Inc. (PINKSHEETS: APNI) has substantial experience in operating and actively managing companies in which it invests capital. Alpine has focused on industrial and other businesses that are underperforming, experiencing financial constraints and will benefit from operational improvements consolidation and an improved capital structure. Alpine has actively invested in and operated leading domestic and global manufacturers of specialty materials, coatings, wire and cable products and electronic components.