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Acmat Corp.
Fourth Quarter and Year End Earnings - December 31, 2011
Published May 10 2012
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Fourth Quarter and Year End Earnings - December 31, 2011


PRESS RELEASE                                                                                May 10, 2012            

                                                                                                               For confirmation call:
ACMAT Corporation                                                                         Henry W. Nozko, Jr., President
233 Main St.                                                                                         (860) 229-9000
New Britain, CT 06050

                                ACMAT CORPORATION REPORTS FOURTH QUARTER
                                                    AND YEAR END 2011 RESULTS

                                                                                          Quarter Ended                                 Year Ended
                                                                                            December 31,                                 December 31,
                                                                                      2011                     2010                   2011                     2010

    Net earnings (loss)                                          $214,144            ($286,764)        $1,201,811              $940,693

    Revenues                                                       $1,412,020            $1,544,391        $6,447,544           $8,063,085

    Basic earnings (loss) per-share                           $0.16                   ($0.21)                $0.88                    $0.69

    Diluted earnings (loss) per-share                        $0.14                   ($0.20)                $0.81                   $0.64

Net earnings (loss) for the quarter ended December 31, 2011 increased $500,908 from ($286,764) for the quarter ended December 31, 2010 to $214,144 for the quarter ended December 31, 2011. Basic earnings (loss) per-share increased from ($0.21) per-share in the fourth quarter of 2010 to $0.16 in the fourth quarter of 2011. Net income increased $261,118 from $940,693 for the year ended December 31, 2010 to $1,201,811 for the year ended December 31, 2011.  Basic earnings per-share increased from $0.69 per-share in 2010 to $0.88 per-share in 2011. The quarter and year ended December 31, 2010 include a non-recurring, pre-tax impairment charge of $401,624 related  to the carrying value of the Company’s office building in New Britain, CT. The building was sold to an unrelated party in 2011.

 

For the three months ended December 31, 2011, the Company recorded revenues of $1,412,020 compared to $1,544,391 for the same quarter of 2010. For the year ended December 31, 2011, the Company recorded revenues of $6,447,544, as compared to $8,063,085for the year ended December 31, 2010. 

 

ACMAT’s insurance subsidiary, ACSTAR Insurance Company, is licensed nationwide and provides surety bonds for prime contractors, specialty trade and environmental remediation contractors.  ACSTAR also provides miscellaneous surety and some general liability.