EAST RUTHERFORD, NJ--(Marketwired - May 15, 2013) - The Alpine Group, Inc. ("Alpine") (
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. (