AAON announces charge to earnings.TULSA Tulsa (tŭl`sə), city (1990 pop. 367,302), seat of Tulsa co., NE Okla., on the Arkansas River east of its junction with the Cimarron; inc. 1898. , Okla.--(BUSINESS WIRE)--Oct. 10, 1995--AAON Inc. Tuesday Tuesday: see week. announced that due primarily to management problems at its Longview, Texas Longview is a city in Texas, United States, located between Dallas, TX and Shreveport, LA. The population was 73,345 at the 2000 census, but a 2005 estimate placed the city's population at 75,609. facility, which have since been substantially corrected, there will be a significant charge to earnings in the third quarter involving inventory adjustments at that facility. Moreover, orders from the company's two largest customers continue to be below 1994 levels. The resulting customer mix has caused production inefficiencies at the Tulsa facility adversely affecting manufacturing margins. Because of a physical inventory being taken at Longview Longview. 1 City (1990 pop. 70,311), seat of Gregg co., E Tex.; inc. 1872. It is a manufacturing, business, and distribution center for the rich East Texas oil field. , third quarter earnings will not be announced until mid November 1995. Norman Asbjornson, president, stated, "We expect the Longview operation to be profitable by the end of 1995. We also believe that orders at the Tulsa facility will increase in 1996. Nevertheless, as a result of the order decrease from the company's two largest customers and the Longview earnings charge, we are no longer certain that 1995 will be the second best year in the company's history." CONTACT: AAON AAON American Association of Office Nurses Inc., Tulsa William A. Bowen, 918/583-2266, (fax) 918/583-6094 |
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