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Devonshire Industries Releases Interim Six-Month Report
Results for the six month period ending September 30, 2002 show that net income has decreased by 15.5% over the previous year. Mr. Moulder commented that the Company did not have a spring sale this year, which affected the net income for the first six months. He went on to say that the remaining six months looks about the same as the last six months.
The report states revenue for the first six months of 2002 was $1,344,119 as compared with $1,482,519 for the same period last year. Net Income for the period was $200,826, down from $249,039 in 2001. Earnings per share were $0.46, as compared with $0.57 last year and dividends per share declared and paid for the period remained at $0.50.