O.I. Corporation Announces Results for Second Quarter of 2010

16 Aug, 2010 @ 10:00 am EDT

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COLLEGE STATION, TX -- (Marketwire) -- 08/16/10 -- O.I. Corporation (NASDAQ: OICO) today announced its results for the three months ended June 30, 2010. These results are summarized below.

The limited information contained in this press release is not adequate information upon which to make an informed investment decision. Accordingly, we urge investors to read our Annual Report on Form 10-K for the year ended December 31, 2009 which we filed with the Securities Exchange Commission (SEC) on March 15, 2010. Additional information regarding our second quarter performance is available in our Quarterly Report on Form 10-Q which we filed with the SEC earlier today. This document is available on our website at www.oico.com/oicorp and the SEC's website at www.sec.gov.

                             O.I. CORPORATION
                           FINANCIAL HIGHLIGHTS
            (in thousands, except earnings per share amounts)



                                                Three Months Ended June 30
                                                --------------------------
                                                    2010           2009
                                                ------------   -----------
Net revenues                                    $      6,444   $     4,876
                                                ------------   -----------
Operating income (loss)                                  766            (3)
                                                ------------   -----------
Income before income taxes                               772            13
                                                ------------   -----------
Provision for income taxes                               316             -
                                                ------------   -----------
Net income                                               456            13
                                                ------------   -----------

                                                ------------   -----------
Basic earnings per share                                0.19          0.01
                                                ------------   -----------
Diluted earnings per share                              0.19          0.01
                                                ------------   -----------



Balance Sheet Data

                                                  June 30,     December 31,
Assets                                              2010           2009
                                                ------------   ------------
Cash and investments                            $      5,071   $      4,614
Accounts receivable                                    5,782          4,371
Inventories                                            5,404          5,657
Other current assets                                   1,311          1,828
                                                ------------   ------------
   Total current assets                               17,568         16,470

Long-term assets                                       3,979          4,117
                                                ------------   ------------
   Total assets                                 $     21,547   $     20,587
                                                ============   ============

Liabilities and Stockholders' Equity
                                                ------------   ------------
Total liabilities                               $      3,298   $      2,895

Stockholders' equity:                                 18,249         17,692
                                                ------------   ------------
   Total liabilities and stockholders' equity   $     21,547   $     20,587
                                                ============   ============

Selected Data

The following table provides additional information regarding free cash flow, a non-GAAP measure, and book value per share.


                                                     Six Months Ended
                                                  June 30,       June 30,
            $(000)                                  2010           2009
                                                -----------    -----------
Net income (loss)                               $       761    $      (483)
Net interest income                                     (20)           (27)
Tax expense (benefit)                                   456           (244)
Depreciation/amortization expense                       240            271
                                                -----------    -----------
   EBITDA                                             1,437           (483)

Capital expenditures                                   (130)           (37)
                                                -----------    -----------
   Free cash flow                               $     1,307    $      (520)
                                                ===========    ===========

Period end Shares Outstanding                     2,361,628      2,355,223
Period end Book Value per share                 $      7.73    $      7.35
                                                -----------    -----------

About O.I. Corporation:

O.I. Corporation, dba OI Analytical, develops, manufactures, sells, and services analytical instrumentation that detects, measures, analyzes, and monitors chemicals in liquids, solids, and gases. Providing products used to digest, extract, and separate components of chemical mixtures, the Company designs application-specific solutions for various industries including environmental testing, defense, and petrochemical. Headquartered in College Station, Texas, the Company's products are sold worldwide.

Visit the Company's web site at: http://www.oico.com

Investor Relations:
Bruce Lancaster
Chief Executive Officer &
Chief Financial Officer
979.690.1711

For more information, go to www.marketwire.com

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