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NATIONAL PRESTO INDUSTRIES, INC. ANNOUNCES
INCREASED SECOND QUARTER
2006 SALES AND EARNINGS
Eau Claire, Wisconsin (July 28, 2006) -- National Presto Industries,
Inc. (NYSE: NPK) announced today second quarter sales and earnings,
as shown in the table below. Net earnings per share have been computed
on the basis of the weighted average number of common shares outstanding
for the respective periods.
In response to questions about second
quarter 2006 sales and earnings,
Maryjo
Cohen, President, stated, “The 2005 annual report prediction concerning
Defense proved to be as accurate for the second quarter as it had been for first
quarter 2006. All three of the Company’s segments enjoyed sales increases
during the quarter under review, however, the Defense segment’s increase
had the most significant impact. Likewise, as in the first quarter, the Defense
segment contributed the majority of the quarter’s earnings increase, again
offset in part by anticipated losses from the Absorbent Product segment. The
earnings improvement was further augmented by an increase in the Housewares/Small
Appliance segment’s earnings over those enjoyed during the prior year’s
comparable quarter, in largest part attributable to that segment’s higher
sales volume. Increased yields from the company’s portfolio, reflecting
the interest rate increases implemented by the Federal Reserve over the past
several quarters, also had a favorable, albeit nominal, impact on earnings.”
National Presto manufactures and sells small household electric appliances and
pressure cookers under the PRESTO® brand name. It also produces and sells
medium caliber ammunition items and absorbent products. The Company is widely
recognized as an innovator of new products.
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Three Months Ended |
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July 2, 2006
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July 3, 2005
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Net Sales |
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$ 58,014,000
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$ 34,669,000
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Net Earnings |
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$ 3,614,000
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$ 1,574,000
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Net Earnings Per Share |
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$ .53
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$ .23
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Weighted Shares Outstanding |
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6,832,000
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6,828,000
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Six Months Ended
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July 2, 2006
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July 3, 2005
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Net Sales |
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$ 103,067,000
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$70,028,000
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Net Earnings (Loss) |
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$ 5,532,000
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$2,850,000
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Net Earnings Per Share |
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$ .81
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$ .42
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Weighted Shares Outstanding |
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6,831,000
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6,826,000
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This release contains “forward looking
statements” made pursuant to the safe harbor provision of the
Private Securities Litigation Reform Act of 1995 that are subject to
certain risks and uncertainties, as well as assumptions, that could
cause actual results to differ materially from historical results and
those presently anticipated or projected. In addition to the factors
discussed above, other important risk factors are delineated in the
Company’s SEC reports, including its Form 10-K for the period
ended December 31, 2005. |
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