Carrington Laboratories Inc. on Monday reported its firstprofitable year since the company went public in 1983, withnet income of $1.1 million, or 14 cents per share, on revenuesof $15.4 million for the year ended Nov. 30.
In 1990, the Irving, Texas, company (AMEX:CRN) lost $6.1million, or 98 cents per share, on revenues of $11.6 million.
Carrington shares closed at $19.88, up 13 cents.
The launch of three new products and continued growth in thewound- and skin-care line boosted revenues, according to thecompany, whose products are based on a naturally occurringcarbohydrate molecule. Net income rose due to the increasedsales and reduction in the cost of goods sold, as well assubstantially reduced operating expenses.
For the fourth quarter, Carrington had net income of $423,000,or 5 cents per share, on revenues of $4.3 million. For the 1990quarter, net loss was $3 million, or 48 cents per share, onrevenues of $3.3 million.
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