Financial Results and Public Companies and Manufacturing & Technology

Bell Industries turns annual profit

April 27, 2011

Indianapolis-based Bell Industries Inc. turned a profit in 2010 after reporting a loss of $1.9 million the previous year.

Bell, a holding company for Bell Techlogix and the Recreational Products Group, said on Tuesday that last year it earned $300,000, or 68 cents per share.

Revenue increased 11.5 percent over 2009, to $112.2 million.

Bell Techlogix, which provides technology products, mobile applications and other services, reported revenue of $73.7 million last year.

The Recreational Products Group, a wholesale distributor of replacement parts to the recreational vehicle, marine, snow and ATV markets, had 2010 revenue of $38.4 million.

Bell’s 2010 earnings report could be its last as a public company.

On March 21, it completed a 1-for-20 reverse stock split, which allowed Bell to then file with the Securities and Exchange Commission to terminate its registration and cease reporting as a publicly traded company.

The change to a private firm will allow Bell to reduce costs related to SEC regulatory filings and Sarbanes-Oxley Act requirements, the company said.

Bell is listed on the thinly traded pink sheets. Shares were trading at $2.75 each on Wednesday.
 

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