Oakridge Holdings, Inc. First Quarter of Fiscal 2012 Report

November 30, 2011

Oakridge Holdings, Inc. (OTCQB: OKRG.PK) reported revenues for it first quarter of fiscal 2012 ended September 30, 2011 fell 24.6% to $3 million. The company reported a net loss for the period of $81 thousand or $(0.057) per share compared to net income of $54 thousand or $0.037 per share during the same period in the prior year. The drop in revenue was primarily the result of the United States government stopping the shipment of all equipment due to the 2011 Ford chassis not being able to run on jet fuel. The contracts have been modified and production will begin in November of 2011.

The company’s balance sheet may be considered tight for a small company with a heavy dependence the US government for revenues. The company has current assets $10.05 million, total assets of $20.1 million, current liabilities of $8.1 million and total liabilities of 13.5 million.

Oakridge owns and operates two distinct businesses including two cemeteries in Hillside, Illnois and acts as a provider of products and services to the aviation ground support industry.

Source: Oakridge Holdings, Inc.

Print Friendly

Previous post:

Next post: