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American Vantage Reports Loss for Q19 December 2002LAS VEGAS--(Press Release)-- American Vantage Cos. (Nasdaq:AVCS) today announced the results of its operations for its 2003 first fiscal quarter ended Oct. 31, 2002. The 2003 first fiscal quarter net loss totaled $120,000, as compared to $277,000 for the first quarter of fiscal year 2002. At Oct. 31, 2002, the net loss for basic and diluted earnings per share was $(0.03) as compared to $(0.06) for the prior fiscal year's comparable quarter.
STATEMENT OF OPERATIONS DATA
THREE MONTHS ENDED OCT. 31, 2002 AND 2001 (unaudited)
2002 2001
--------------------------
Costs and expenses
General and administrative
$ 355,000 $ 486,000
Non-operating income 211,000 209,000
--------------------------
Loss from continuing operations
before income tax benefit 144,000 277,000
Income tax benefit 24,000
--------------------------
Net loss $ 120,000 $ 277,000
==========================
Net loss per common share --
basic and diluted $ 0.03 $ 0.06
==========================
Weighted average number of common
shares and common share equivalents 4,866,000 4,866,000
==========================
BALANCE SHEET DATA
OCT. 31, 2002 (unaudited) AND JULY 31, 2002
Oct. 31, July 31,
2002 2002
--------------------------
Cash and cash equivalents $ 1,439,000 $ 1,560,000
==========================
U.S. treasury securities and
certificates of deposit $ 7,788,000 $ 7,785,000
==========================
Refundable income taxes $ 1,475,000 $ 1,448,000
==========================
Total assets $16,011,000 $16,024,000
==========================
Current liabilities $ 231,000 $ 189,000
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Total stockholders' equity $16,011,000 $16,024,000
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