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Kenneth H. Traub
President and Chief Executive Officer
Tel. (609) 632-0800
Mark J. Bonney
Executive Vice President and Chief Financial Officer
Tel. (609) 632-0800
AMERICAN BANK NOTE HOLOGRAPHICS, INC. REPORTS
SECOND QUARTER 2007 FINANCIAL RESULTS
Sequential Revenue and Earnings Growth Highlighted by Contract
to Supply Security Laminates for Colombia National Identification Cards
Robbinsville, NJ August 7, 2007 American Bank Note Holographics, Inc. (ABNH or the Company) (OTC Bulletin Board: ABHH), a world leader in the origination, production and marketing of holograms for security applications, today announced financial results for the second quarter ended June 30, 2007.
Sales in the second quarter of 2007 totaled $7.9 million, a decrease of 5.2% from $8.4 million in the second quarter of 2006, and an increase of 9.3% from $7.3 million in the first quarter of 2007. Second quarter 2006 sales included approximately $1.0 million of revenue associated with the previously reported discontinued Visa HoloMag program. The sequential quarterly increase in sales was principally the result of the expansion of the Companys secure government document programs. The largest contributor to the expansion in secure government document programs in the quarter was the first order under a new contract for the Colombian national identity card. ABNH has supplied holographic laminates to the Colombian government for several years, and this contract represents a significant expansion in the volume and scope of the relationship. In accordance with the contract, ABNH has implemented a new format for the secure holographic laminates utilizing ABNHs patented transparent discontinuous metallization technology. The Company also expanded its relationship with the National Database and Registration Authority of Pakistan resulting in an increase in supply of its patented secure laminates for the Pakistan National identification cards.
Sales in the first six months of 2007 decreased 17.2% to $15.2 million from $18.4 million in the comparable period in 2006. First half 2006 sales included approximately $4.1 million of revenue associated with the previously reported discontinued Visa HoloMag programs.
Net income in the second quarter of 2007 totaled $1.2 million, or $0.06 per share, an increase of 26.9% from net income of $1.0 million, or $0.05 per share, in the second quarter of 2006, and an increase of 24.9% from $1.0 million, or $0.05 per share, in the first quarter of 2007. Net income in the first six months of 2007 increased 8.6% to $2.2 million, or $0.12 per share, from $2.0 million, or $0.11 per share, in the comparable period in 2006. Net income as a percentage of sales was 15.2% in the second quarter of 2007 compared to 11.4% in the second quarter of 2006 and 13.3% in the first quarter of 2007. Net income as a percentage of sales was 14.3% in the first six months of 2007 compared to 10.9% in the first six months of 2006.
The following information was filed by American Bank Note Holographics Inc on Tuesday, August 7, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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