Paragon Technologies News Release
, November 10, 2016 (Newswire.com) - Paragon Technologies, Inc. (OTC: PGNT), a holding company, announced its results for the third quarter ended September 30, 2016 on November 10, 2016.
Paragon Technologies, Inc.'s Consolidated Statement of Operations for the three months and nine months ended September 30, 2016 and 2015 are summarized below. For further detail on our results, shareholders should carefully review our quarterly report, which can found at www.pgntgroup.com.
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Three Months Ended
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Nine Months Ended
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Sept 30,
2016
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Sept 30,
2015
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Sept 30,
2016
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Sept 30,
2015
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Net Sales
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$ | 2,733 | $ | 3,892 | $ | 6,710 | $ | 8,338 | ||||||||
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Operating Income (loss)
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(58 | ) | 399 | (319 | ) | 637 | ||||||||||
| Other income (expense) | ||||||||||||||||
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Interest income
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6 | 5 | 30 | 13 | ||||||||||||
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Interest expense
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7 | - | (8 | ) | (1 | ) | ||||||||||
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Gain on investment, marketable securities
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82 | 1 | 41 | 13 | ||||||||||||
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Total other income (expense), net
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95 | 6 | 63 | 25 | ||||||||||||
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Income (loss) before income taxes
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37 | 405 | (256 | ) | 662 | |||||||||||
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Income tax expense (benefit)
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15 | 160 | (103 | ) | 262 | |||||||||||
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Net income (loss)
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$ | 22 | $ | 245 | $ | (153 | ) | $ | 400 | |||||||
Analysis of Results:
Investment gains or losses reflect realized gains or losses in the company's investment portfolio.
Paragon utilizes pre-tax operating income, a non-GAAP financial measure, in its analysis of financial results. Paragon Technologies defines pre-tax operating earnings outside of the investment gains/losses of the Company.
About Paragon Technologies
Paragon Technologies, Inc. is a holding company with diverse business activities. Paragon's wholly owned operating subsidiary, SI Systems, Inc., offers branded technologies and material handling solutions that serve manufacturing operations and order fulfillment applications. Operating decisions for Paragon's operating businesses are made by the management of those businesses. All investment decisions under Paragon's investment policy are made by Sham Gad, Chairman and CEO of Paragon pursuant to the Company's investment management policy.
SOURCE: Paragon Technologies, Inc.
Source: Paragon Technologies Inc.
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