ADD to BW1101; Tadiran reports first quarter 1996 results; Company Achieves Record Profits and Profitability; Operating Margins Hit Record Levels; Gross Margins are at the Highest Level in 8 Quarters.HOLON Holon (hōlôn`), city (1994 pop. 163,700), W central Israel. Manufactures include textiles, metal and leather goods, processed foods, furniture, glassware, plastics, and construction materials. , Israel--(BUSINESS WIRE)--May 28, 1996--Add the following to BW1101: -0-
TADIRAN LIMITED
Condensed Consolidated Statement of Operations
(in thousands, except per share data)
Three months ended
March 31,
1996 1995
(Unaudited) (Unaudited)
Sales and revenues $ 269,403 $ 254,939 Cost of sales and revenues 196,185 205,366
Gross profit 73,218 49,573
Research and development expenses, net 14,110 16,893 Sales and marketing expenses 22,475 22,053 General and administrative expenses 12,979 14,570
Operating income (loss) 23,654 (3,943)
Financing expenses (income), net (898) 229 Other expenses (income) (131) 1,613
Income (loss) before income taxes 24,683 (5,785)
Income taxes (benefit) 5,699 (1,114)
Income (loss) after income taxes 18,984 (4,671)
Equity in results of affiliates (176) (1,052)
Minority interests (226) (304)
Net income (loss) $ 18,582 $ (6,027)
Earnings (loss) per share $ 0.95 $ (0.31) Shares outstanding 19,614 19,614 -0-
TADIRAN LIMITED
Condensed Consolidated Balance Sheet
(in thousands)
As of Mar. 31, 1996 As of Dec. 31, 1995
Current Assets (unaudited) (audited)
Cash and cash equivalents $ 64,896 $ 64,626
Short-term investments 34,807 59,981
Trade accounts receivable 214,294 185,039
Other current assets 55,965 54,015
Inventories, net of customer
advances 185,493 169,334
Total current assets 555,455 532,995
Long Term Investments and
Receivables
Investments 12,013 11,951
Trade accounts receivable 23,510 20,615
Deposits and other 10,483 11,138
Total Long Term Investments
and Receivables 46,006 43,704
Property, Plant, and Equipment, Net 187,251 179,738 Other Assets 2,717 2,004 Total Assets $ 791,429 $ 758,441
Current Liabilities
Short-term credits and
current maturities of
long-term debt:
Banks $ 50,890 $ 35,563
Debentures 15,772 15,200
Others 2,129 2,023
Trade accounts payable 83,586 69,117
Accrued expenses and other 194,088 194,660
Customer advances, net of
inventories 64,232 58,655
Total Current Liabilities 410,697 375,218
Long-Term Liabilities
Long-term advances from
customers 47,053 40,973
Long-term debt (net of current
maturities):
Banks 8,840 23,017
Debentures 13,871 28,567
Others 1,173 1,750
Deferred income taxes 11,458 12,529
Liability for severance pay,
net 2,308 1,696
Liability for vacation pay 15,907 13,096
Total Long-Term Liabilities 100,610 121,628
Total Liabilities 511,307 496,846
Minority Interest in Consolidated Subsidiaries 14,206 14,131 Shareholders' Equity 265,916 247,464
Total Liabilities and
Shareholders' Equity $ 791,429 $ 758,441
CONTACT: Tadiran Limited Yossef Yossef is a given name or surname, and may refer to:
interj. Used as a traditional Jewish greeting or farewell. [Hebrew  Chief Financial Officer (972-3) 557-3222 or Tadiran Electronic Industries, Inc. Edward Edward killed his father at his mother’s instigation. [Br. Balladry: Edward in Benét, 302] See : Patricide A. Hoffman Vice President, Finance (212) 751-5082 or Lippert/Heilshorn & Associates Bharti Bharti can refer to a number of Indian businesses:
Jean O'Dea, 212/838-3777, ext. 129 |
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