COHR notches record results

Independent service organization COHR continues to reap the rewards of its aggressive business plan. The Chatsworth, CA-based firm announced record fourth-quarter and fiscal 1997 results.

COHR reported revenues of $25.4 million for its fourth quarter (end-March), a 36% increase over the $18.7 million posted in the same period in 1996. Net income was $1.5 million, compared with $700,000 for the fourth quarter of 1996.

For its fiscal year (end-March), COHR reported revenues of $90.5 million, a 37% boost over the $66.3 million reported for the same period in 1996. At the time, the $66.3 million represented a fiscal-year record for COHR. Net income for fiscal year 1997 was $4.9 million, compared with $2.1 million reported in fiscal 1996.

The company credited its recent acquisitions, as well as a 42% growth in its equipment service business, as key drivers in the strong fiscal 1997 performance. COHR acquired nine companies in the last year and has purchased 21 equipment service businesses nationwide since July 1993. Several other companies are in COHR's acquisition pipeline, according to COHR.