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Acmat Corp.
Third Quarter Earnings - September 30, 2009
Published Nov 17 2009
4 min read

Third Quarter Earnings - September 30, 2009

PRESS RELEASE                                                                             November 17, 2009

                                                                                                         For confirmation call:

ACMAT Corporation                                                                             Henry W. Nozko, Jr., President

233 Main Street                                                                                   (860) 229-9000

New Britain, CT 06050

ACMAT REPORTS THIRD QUARTER EARNINGS

3 Months Ended

September 30,

9 Months Ended

September 30,

2009

2008

2009

2008

Revenues

$3,110,858

2,768,382

9,242,302

11,308,973

Net earnings

$ 649,217

50,750

1,040,134

1,151,897

Basic Earnings Per Share

$ .47

.03

.76

.69

Diluted Earnings Per Share

$ .44

.03

.70

.64

ACMAT Corporation reported net earnings of $649,217 or basic earnings per share of $.47 for the three months ended September 30, 2009 compared with $50,750 or basic earnings per share of $.03 for the three months ended September 30, 2008.  Net earnings for the nine months ended September 30, 2009 were $1,040,134 or basic earnings per share of $.76 compared to $1,151,897 or basic earnings per share of $.69 for the nine months ended September 30, 2008.

 

For the three months ended September 30, 2009, the Company recorded revenues of $3,110,858 compared to $2,768,382 for the three months ended September 30, 2008.  For the nine months ended September 30, 2009, revenues were $9,242,302 compared to $11,308,973 for the nine months ended September 30, 2008.

 

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

 

ACMAT has provided construction services to commercial, industrial, corporate and institutional customers.  Because the company has not been able to secure any new construction contracts with reasonable pricing the company has discontinued performing construction work.