A. O. Smith forecasts third quarter earnings.MILWAUKEE--(BUSINESS WIRE)--Aug. 17, 1995--A. O. Smith Corporation (NYSE-AOS) today forecast its third quarter earnings would be lower than anticipated. Earnings for the 1995 third quarter, which ends Sept. 30, will range between $6.3 million and $8.4 million, or $0.30 and $0.40 per share, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Robert J. O'Toole, chairman and chief executive officer. The corporation earned $10.1 million or $.48 per share in the third quarter of 1994. The earnings shortfall Shortfall The amount by which the capital required to fulfill a financial obligation exceeds available capital. Notes: Shortfall risk is often combated with an efficient hedging strategy created by a fund, group, institution, or individual. is the result of production problems experienced at Automotive Products Company, O'Toole said. "Heavy demand, accompanied by weather-related delays and operational difficulties at our Milwaukee facilities, have combined to disrupt production schedules," he explained. "This has had a significantly adverse impact on Automotive's costs as well as their ability to meet customer requirements during the third quarter." "The performance of the corporation's other operating units operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon remains in line with our expectations," O'Toole added. The corporation also announced that on Aug. 16, Automotive Products Company and its Milwaukee unions had reached a tentative tentative, adj not final or definite, such as an experimental or clinical finding that has not been validated. agreement on economic issues of a new, four-year labor contract. The previous contract expired July 31. A settlement will be recommended to union members at ratification The confirmation or adoption of an act that has already been performed. A principal can, for example, ratify something that has been done on his or her behalf by another individual who assumed the authority to act in the capacity of an agent. meetings planned for the next two weeks. CONTACT: A. O. Smith Corporation, Milwaukee Edward J. O'Connor, 414/359-4100 |
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