Burnham Holdings, Inc. Announces Year 2019 Financial Results
BURNHAM HLDGS INC A (BURCA)
NASDAQ:AMEX Investor Relations:
burnhamholdings.com
Company Research
Source: PR Newswire
LANCASTER, Pa., Feb. 13, 2020 /PRNewswire/ -- Burnham Holdings, Inc., (OTC-Pink: BURCA), the parent company of multiple subsidiaries that are leading domestic manufacturers and sellers of boilers, and related HVAC products and accessories (including furnaces, radiators, and air conditioning systems), for residential, commercial and industrial applications, today reported financial results for the year ended December 31, 2019.The following are some key highlights of 2019 financial results:Net sales were $212.3 million, an increase of $14.6 million, or 7.4%, compared to 2018 as overall demand for residential and commercial heating equipment contributed to higher 2019 revenues. Gross profit was $45.5 million, an increase of $3.9 million, or 9.3%, versus 2018. Operating income was $11.2 million, up $3.3 million (42%), compared to 2018 results (excluding the impact of a $6.8 million goodwill impairment charge included in the 2018 results). This pro forma comparison of operating income i
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