Good Sales at Pure World

Good Sales at Pure World

BEDMINSTER, N.J.--Pure World Inc. (PURW:NASDAQ) reported April16 that for its first quarter (1Q03), ended March 31, sales grew two-fold and itplans to buy back shares depending on price and market conditions.

Net sales more than doubled to $7.6 million from $3.6 million, but grossmargin fell to 28.4 percent of sales from 69.6 percent while expenses roseslightly to $1.3 million from $1.1 million. Net income was $692,000, or $.09 pershare earned, up from a net loss of $594,000, or $.07 per share lost.

Paul O. Koether, chairman, stated the increase in revenues and profitsresulted from factors such as new clients and beginning a major processingcontract for a multi-national consumer products company, which is expected to beextended for two more years. He added he and other officers and directors wouldbe purchasing up to 200,000 Pure World shares in open market transactions,depending on price and market conditions. Currently, the company has 7.5 millionoutstanding shares.