AEP Industries announces record first quarter earnings per share.SOUTH HACKENSACK, N.J.--(BUSINESS WIRE)--March 5, 1996--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) announces first quarter sales for the period ended Jan. 31, 1996, of $54,770,000, vs. $58,687,000 reported for the first quarter of 1995. This 7 percent decrease in sales is due to a 16 percent decrease in unit selling prices partially offset by a 12 percent increase in sales volume. Gross profit in 1996 amounted to $16,235,000 compared to $16,136,000 in gross profit in the first quarter of 1995. The increased gross profit resulted from manufacturing cost efficiencies caused by increased volume partially offset by reductions in material margins and the absorption of increased costs due to the relocation of the company's New Jersey manufacturing capabilities to Wright Township Wright Township may refer to multiple places in the United States:
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. for the first quarter of 1996 was $6,989,000 vs. $6,973,000 in the same period in the prior year. Net income was $3,205,000, or 64 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for the first quarter of 1996 as compared to $4,059,000, or 55 cents per share in the previous year's first quarter. Net income per share for the current quarter ended Jan. 31, 1996 was computed using the weighted average number of common shares and common equivalent shares outstanding during this period. Common equivalent shares include the dilutive effect Dilutive effect Result of a transaction that decreases earnings per common share (EPS). of stock options as if exercised at the beginning of the period. AEP AEP - Application Environment Profile Industries Inc. manufactures, markets and distributes an extensive range of polyethylene film products which include shrink bundle films, industrial stretch films, silage silage (sī`lĭj) or ensilage (ĕn`səlĭj), succulent, moist feed made by storing a green crop in a silo. The crop most used for silage is corn; others are sorghum, sunflowers, legumes, and grass. stretch films and can liner products. AEP operates five manufacturing facilities located in Wright Township, Pa.; 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 Jan. 31,
1996 1995
Sales $54,770,000 $58,687,000 Gross profit $16,235,000 $16,136,000 Net income $ 3,205,000 $ 4,059,000 Average shares 4,982,367 7,372,606 Per share $ .64 $ .55 Earnings CONTACT: AEP Industries Inc., South Hackensack Joan Lange, 201/807-2301 |
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