AEP Industries produces record second quarter sales.SOUTH HACKENSACK, N.J.--(BUSINESS WIRE)--June 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 second quarter sales of $58,347,000 for the period ended April 30, 1995, up 36% from $43,046,000 reported in the second quarter of 1994. The sales increase is the result of a 40% increase in unit sales unit sales Sales measured in terms of physical units rather than dollars. Unit sales data are often used by financial analysts when evaluating the health of a company. prices partially offset by a 3% decline in sales volume. The company believes the volume decline is due to inventory adjustments in the company's marketplace. Gross profit for the second quarter 1995 amounted to $12,709,000, a 6% decrease from a year ago when second quarter gross profits were $13,492,000. The gross profit reduction resulted from increases in raw material costs combined with additional manufacturing costs incurred with the start-up of the Alsip facility. 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. for the second quarter of 1995 was approximately 74%, versus 90% for the second quarter of the prior year. However, the company increased its overall manufacturing capacity by 34% from a year ago. 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. declined by 7% to $4,647,000 from $4,978,000 as reported in the prior fiscal second quarter. Net income for the second quarter 1995 was $2,874,000, a decrease of less than 1/2% from the previous year's quarterly earnings of $2,889,000. Earnings per share for the company was $.39 in both the current and prior year's second quarter. Sales for the first six-months of 1995 increased 43% to $117,034,000 from $82,154,000 in 1994. The increase in year-to-date sales is primarily the result of a 3% increase in sales volume combined with a 39% increase in selling prices. Net income for the six months ended April 30, 1995 increased 26% to $6,933,000 ($0.94 per share) from $5,507,000 ($0.75 per share) in 1994. The company is optimistic regarding its prospects and is aggressively implementing its expansion plans in Pennsylvania and the Midwest. 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 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 Waxahachie is a city in Ellis County, Texas (USA). The population was 21,426 at the 2000 census. It is the county seat of Ellis County.GR6 Geography Waxahachie is located at (32.399861, -96. ; 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 April 30,
1995 1994
Sales $58,347,000 $43,046,000 Gross Profit $12,709,000 $13,492,000 Net Income $2,874,000 $2,889,000 Average Shares 7,389,000 7,336,000 Per Share Earnings $.39 $.39 -0-
Six Months ended April 30,
1995 1994
Sales $117,034,000 $82,154,000 Gross Profit $28,845,000 $25,740,000 Net Income $6,933,000 $5,507,000 Average Shares 7,381,000 7,328,000 Per Share Earnings $.94 $.75 -0- CONTACT: AEP Industries Inc. Barbara L. Brown, 201/807-2301 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion