EX-99.1 2 v194145_ex99-1.htm Unassociated Document
EXHIBIT 99.1


O.I. Corporation Announces Results for Second Quarter of 2010

College Station, Texas---August 16, 2010—O.I. Corporation (NASDAQ: OICO) today announced its results for the three months ended June 30, 2010.  These results are summarized below.

The limited information contained in this press release is not adequate information upon which to make an informed investment decision.   Accordingly, we urge investors to read our Annual Report on Form 10-K for the year ended December 31, 2009 which we filed with the Securities Exchange Commission (SEC) on March 15, 2010.  Additional information regarding our second quarter performance is available in our Quarterly Report on Form 10-Q which we filed with the SEC earlier today.  This document is available on our website at www.oico.com/oicorp and the SEC’s website at www.sec.gov.

O.I. CORPORATION
FINANCIAL HIGHLIGHTS
(in thousands, except earnings per share amounts)

   
Three Months Ended
June 30
  
   
2010
    
2009
  
Net revenues
   $ 6,444     $ 4,876  
Operating income (loss)
     766       (3 )
Income before income taxes
     772       13  
Provision for income taxes
     316       -  
Net income
     456       13  
                 
Basic earnings per share
     0.19       0.01  
Diluted earnings per share
     0.19       0.01  
 
 
 
 
 
Balance Sheet Data
            
   
June 30,
    
December 31,
  
Assets
  
2010
    
2009
  
Cash and investments
   $ 5,071     $ 4,614  
Accounts receivable
     5,782       4,371  
Inventories
     5,404       5,657  
Other current assets
     1,311       1,828  
        Total current assets
     17,568       16,470  
Long-term assets
     3,979       4,117  
        Total assets
   $ 21,547     $ 20,587  
Liabilities and Stockholders' Equity
                
Total liabilities
   $ 3,298     $ 2,895  
Stockholders' equity:
     18,249       17,692  
Total liabilities and stockholders' equity
   $ 21,547     $ 20,587  
 
 
Selected Data

The following table provides additional information regarding free cash flow, a non-GAAP measure, and book value per share.

   
Six Months Ended
  
   
June 30,
    
June 30,
  
$(000)
  
2010
    
2009
  
Net income (loss)
   $ 761     $ (483 )
Net interest income
     (20 )     (27 )
Tax expense (benefit)
     456       (244 )
Depreciation/amortization expense
     240       271  
EBITDA
     1,437       (483 )
                 
Capital expenditures
     (130 )     (37 )
Free cash flow
   $ 1,307     $ (520 )
                 
Period end Shares Outstanding
     2,361,628       2,355,223  
Period end Book Value per share
   $ 7.73     $ 7.35  

About O.I. Corporation:
O.I. Corporation, dba OI Analytical, develops, manufactures, sells, and services analytical instrumentation that detects, measures, analyzes, and monitors chemicals in liquids, solids, and gases.  Providing products used to digest, extract, and separate components of chemical mixtures, the Company designs application-specific solutions for various industries including environmental testing, defense, and petrochemical.  Headquartered in College Station, Texas, the Company's products are sold worldwide.

Visit the Company's web site at:
http://www.oico.com
 
Investor Relations:
Bruce Lancaster
Chief Executive Officer &
Chief Financial Officer
979.690.1711