Ronson Corporation Reports Increased Sales and Net Earnings In the First Quarter 2001

Apr 23, 2001, 01:00 ET from Ronson Corporation

    SOMERSET, N.J., April 23 /PRNewswire/ --
 Ronson Corporation (Nasdaq: RONC; OTC Bulletin Board:   RONCP) today reported
 that its Net Sales increased by 2% to $6,234,000 in the first quarter of 2001
 as compared to $6,093,000 in the first quarter of 2000.
     Net Earnings in the first quarter of 2001 increased by 29% to $67,000 as
 compared to $52,000 in the first quarter of 2000.
     Ronson Corporation's operations include its wholly owned subsidiaries:
 1) Ronson Consumer Products Corporation in Woodbridge, N.J., and Ronson
 Corporation of Canada, Ltd., manufacturers and marketers of Ronson consumer
 products; and 2) Ronson Aviation, Inc., a fixed base operator at
 Trenton-Mercer Airport, Trenton, N.J., providing sales/services of aircraft,
 charter, fueling, hangar facilities, avionics and other services.
 
                               RONSON CORPORATION
                      CONSOLIDATED STATEMENTS OF EARNINGS
 
     FOR THE QUARTER ENDED MARCH 31:
 
                                                         2001           2000
 
     Net Sales                                    $ 6,234,000    $ 6,093,000
     Earnings before Income Taxes                     109,000         97,000
     Income Tax Expenses, Net                          42,000         45,000
     Net Earnings                                      67,000         52,000
 
     Net Earnings per Common Share (1):
        Basic                                     $       .02    $       .02
        Diluted                                           .02            .02
 
     Average Common Shares outstanding (1):
        Basic                                       3,455,000      3,237,000
        Diluted                                     3,455,000      3,237,000
 
     FOOTNOTES:
 
     (1)  Basic Net Earnings per Common Share provides for quarterly cumulative
          preferred dividends with no conversion of preferred shares to common
          shares.  Provisions were made for cumulative preferred dividends of
          approximately $2,000 in each of the first quarters of 2001 and 2000.
 
          Diluted Net Earnings per Common Share assumes no provision for the
          quarterly cumulative preferred dividends with full conversion of all
          preferred shares to common shares and includes the dilutive effect of
          outstanding stock options.  The assumed conversion of preferred
          shares to common shares and the stock options were anti-dilutive for
          the periods presented, and, therefore, were excluded from the
          computation of Diluted Net Earnings per Common Share.
 
 

SOURCE Ronson Corporation
    SOMERSET, N.J., April 23 /PRNewswire/ --
 Ronson Corporation (Nasdaq: RONC; OTC Bulletin Board:   RONCP) today reported
 that its Net Sales increased by 2% to $6,234,000 in the first quarter of 2001
 as compared to $6,093,000 in the first quarter of 2000.
     Net Earnings in the first quarter of 2001 increased by 29% to $67,000 as
 compared to $52,000 in the first quarter of 2000.
     Ronson Corporation's operations include its wholly owned subsidiaries:
 1) Ronson Consumer Products Corporation in Woodbridge, N.J., and Ronson
 Corporation of Canada, Ltd., manufacturers and marketers of Ronson consumer
 products; and 2) Ronson Aviation, Inc., a fixed base operator at
 Trenton-Mercer Airport, Trenton, N.J., providing sales/services of aircraft,
 charter, fueling, hangar facilities, avionics and other services.
 
                               RONSON CORPORATION
                      CONSOLIDATED STATEMENTS OF EARNINGS
 
     FOR THE QUARTER ENDED MARCH 31:
 
                                                         2001           2000
 
     Net Sales                                    $ 6,234,000    $ 6,093,000
     Earnings before Income Taxes                     109,000         97,000
     Income Tax Expenses, Net                          42,000         45,000
     Net Earnings                                      67,000         52,000
 
     Net Earnings per Common Share (1):
        Basic                                     $       .02    $       .02
        Diluted                                           .02            .02
 
     Average Common Shares outstanding (1):
        Basic                                       3,455,000      3,237,000
        Diluted                                     3,455,000      3,237,000
 
     FOOTNOTES:
 
     (1)  Basic Net Earnings per Common Share provides for quarterly cumulative
          preferred dividends with no conversion of preferred shares to common
          shares.  Provisions were made for cumulative preferred dividends of
          approximately $2,000 in each of the first quarters of 2001 and 2000.
 
          Diluted Net Earnings per Common Share assumes no provision for the
          quarterly cumulative preferred dividends with full conversion of all
          preferred shares to common shares and includes the dilutive effect of
          outstanding stock options.  The assumed conversion of preferred
          shares to common shares and the stock options were anti-dilutive for
          the periods presented, and, therefore, were excluded from the
          computation of Diluted Net Earnings per Common Share.
 
 SOURCE  Ronson Corporation