AEP Industries Inc. produces record first quarter sales and earnings.SOUTH HACKENSACK, N.J.--(BUSINESS WIRE)--March 6, 1995--AEP Industries Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AEPI) reports record first quarter sales for the period ended Jan. 31, 1995, of $58,687,000, up 50% from the previous record of $39,108,000 reported for the first quarter of 1994. The sales increase is the result of a 9% volume increase combined with a 37% increase in unit prices. Gross profits grew to $16,136,000 a 32% increase over gross profits from a year ago when first quarter gross profits were $12,248,000. The gross profit improvement results from improved material margins combined with reductions in per unit manufacturing costs. Capacity utilization Capacity Utilization measures the rate at which a firm makes use of their capital productive capacities, such as factories and machinery. Capacity Utilization generally rises when the economy is healthy and falls when demand softens. remained 83%, unchanged from the first quarter of the prior year. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. rose 60% over the prior year's first quarter, reaching $6,973,000 versus $4,347,000 in 1994. Net income for the first quarter skyrocketed to $4,059,000, a 55% increase over the previous year's first quarter. Earnings per share for the first quarter were $0.55 per share a $0.19 increase over $0.36 per share earned in 1994. President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. J. Brendan Barba expressed his delight with AEP's strongest first quarter ever, saying, "Five major resin cost increases since May, 1994 have certainly injected a high degree of volatility into our markets. Nevertheless, AEP AEP - Application Environment Profile continues to benefit from being the low cost manufacturer in virtually all of its businesses. We have added a fair amount of capacity during this quarter and expect this capacity to contribute additional profits in the short term." AEP Industries Inc. manufactures, markets and distributes an extensive range of polyethylene film products which include shrink bundle films, industrial stretch films Stretch Films is a cartoon production company based in New York. It was founded and is run by John R. Dilworth, who is best known for his production of the cartoon Courage the Cowardly Dog. External link
AEP operates five manufacturing facilities located in Moonachie, N.J.; Waxahachie, Texas; Matthews, N.C.; Chino Chino (chē`nō), city (1990 pop. 59,682), San Bernardino co., S Calif.; founded 1887, inc. 1910. It is the business and processing center of a diversified farming (notably dairying) area. , Calif.; and Alsip, Ill. -0-
AEP INDUSTRIES INC.
Quarter ended January 31,
1995 1994
Sales $58,687,000 $39,108,000 Gross Profit $16,136,000 $12,248,000 Net Income $4,059,000 $2,618,000 Average Shares 7,372,606 7,320,217 Per Share Earnings $.55 $.36 -0- CONTACT: AEP Industries Inc. Barbara L. Brown, 201/807-2301 |
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