Earnings Increases Reported

Earnings increases reported

Gelman Sciences Inc. reported increases in revenues and earnings for the third quarter ending April 30.

Revenues for the nine months held steady at $31.3 million, compared with the same figure for the prior year.

Net earnings for the nine-month period were $8.4 million or $3.49 per share, compared with $1.03 million or 42 cents per share for the preceding year.

THE PRIMARY factor causing the increase was the sale of Gelman Instrument S.p.A. in Milan, Italy, to Flow General Inc. of McLean, Va., in the second quarter. A nonoperational profit of $9.7 million before federal income taxes resulted from the sale. The estimated after-tax effect on earnings per share is $2.84, a Gelman spokesman said.

Revenues for the quarter were $8.6 million, compared with $11.9 million as reported the prior year, and $7.1 million adjusted for the divested operations.

Net earnings for the three months ended April 30 were $428,000, or 18 cents per share, up 88 percent from the $227,000, or 9 cents per share, for the preceding year.

Gelman Sciences Inc. of Ann Arbor develops and manufactures microfiltration products and systems and biomedical apparatus, serving the health-care, laboratory, and process industries worldwide.

Gelman Sciences Inc.
Three months ending April 30, 1981

1981
Revenues                               $8,655,000
Net earnings                                428,000
Net earnings per share                        .18

1980
Revenues                              $11,932,000
Net earnings                                227,000
Net earnings per share                        .09

Gelman Sciences Inc.
Nine months ending April 30, 1981

1981
Revenues                              $31,299,000
Net earnings                              8,383,000
Net earnings per share                       3.49

1980
Revenues                              $31,344,000
Net earnings                              1,028,000
Net earnings per share                         .42