PRESS RELEASE August 25, 2009
For confirmation call:
ACMAT Corporation Henry W. Nozko, Jr., President
233 Main Street (860) 229-9000
New Britain, CT 06050
ACMAT REPORTS SECOND QUARTER EARNINGS
3 Months Ended June 30, | 6 Months Ended June 30, | |||
2009 | 2008 | 2009 | 2008 | |
Revenues | $3,132,522 | 4,705,171 | 6,131,444 | 8,540,591 |
Net Earnings | $ 154,419 | 556,079 | 390,917 | 1,101,147 |
Basic Earnings Per Share | $ .11 | .34 | .28 | .64 |
Diluted Earnings Per Share | $ .10 | .31 | .26 | .60 |
ACMAT Corporation reported net earnings of $154,419 or basic earnings per share of $.11 for the three months ended June 30, 2009 compared with $556,079 or basic earnings per share of $.34 for the three months ended June 30, 2008. Net earnings for the six months ended June 30, 2009 were $390,917 or basic earnings per share of $.28 compared to $1,101,147 or basic earnings per share of $.64 for the six months ended June 30, 2008.
For the three months ended June 30, 2009, the Company recorded revenues of $3,132,522 compared to $4,705,171 for the three months ended June 30, 2008. For the six months ended June 30, 2009, revenues were $6,131,444 compared to $8,540,591 for the six months ended June 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.