NuCO2 Inc. recently reported operating results for the quarter ended 31st December 2006, in line with the company's recently announced new strategic growth plan. The company also announced that its Board of Directors has authorized a share repurchase programme.
Total revenues for the second quarter totaled $32m, compared with $28.8m in the corresponding year-ago period, an increase of 11.2 percent, and for the fiscal 2007 first half increased 13.6 percent, to $64.3m from $56.6m.
Reflecting increased expenses resulting from the transition to the new plan, operating income equaled $2.9m, compared with $4.7m a year ago, and for the first half equaled $8.7m, compared with $9.8m last year.
$quot;The new strategic growth plan is on target,$quot; said Michael E. DeDomenico, chairman and CEO. $quot;Under the new plan, we will be measuring results by growth in return on investment, which is expected to steadily improve in the periods ahead.$quot;