AMTROL Reports First Quarter Results.Business Editors WARWICK, R.I.--(BUSINESS WIRE)--May 17, 2001 AMTROL Inc. today announced 2001 first quarter net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $46.4 million, a decrease of $7.9 million compared to the first quarter of 2000. The Company also reported earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
The decrease in net sales and EBITDA is principally due to a generally weaker North American economy, increased competition and pricing pressures in the Company's water systems' markets and weaker European currencies relative to the same period last year. AMTROL is a leading international producer and marketer of flow and expansion control products, water heaters and cylinders for a variety of gases. The Company's major products include pressure tanks used in water well, hydronic hy·dron·ic adj. Of or relating to a heating or cooling system that transfers heat by circulating a fluid through a closed system of pipes. [hydr(o)- + -onic (as in electronic).] heating and potable potable /pot·a·ble/ (po´tah-b'l) fit to drink. po·ta·ble adj. Fit to drink; drinkable. potable fit to drink. hot water applications, indirect-fired water heaters, and both LPG LPG: see liquefied petroleum gas. 1. LPG - Linguaggio Procedure Grafiche (Italian for "Graphical Procedures Language"). dott. Gabriele Selmi. Roughly a cross between Fortran and APL, with graphical-oriented extensions and several peculiarities. and disposable refrigerant re·frig·er·ant adj. 1. Cooling or freezing; refrigerating. 2. Reducing fever. n. 1. A substance, such as air, ammonia, water, or carbon dioxide, used to provide cooling either as the working substance of gas cylinders. Products are marketed under the Well-X-Trol, Extrol, Therm-X-Trol and BoilerMate brand names. AMTROL is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of AMTROL Holdings, Inc. which is controlled by Cypress Merchant Banking Partners, L.P. and Cypress Offshore Partners, L.P., private equity funds managed by the Cypress Group L.L.C.
AMTROL INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands)
QUARTER ENDED
March 31, April 1,
2001 2000
Net Sales $ 46,434 $ 54,333
Income from Operations 1,550 5,540
Net Income (Loss) (2,455) 311
EBITDA 5,201 9,398
CONSOLIDATED BALANCE SHEETS
(in thousands)
ASSETS
March 31, April 1,
2001 2000
Current Assets $ 54,806 $ 63,356
Property, Plant and
Equipment, Net 43,968 45,759
Other Assets 171,219 176,732
Total Assets $269,993 $ 285,847
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities $ 43,676 $ 50,038
Long Term Debt, Less
Current Maturities 165,896 165,752
Other Noncurrent
Liabilities 4,711 5,374
Shareholders' Equity 55,710 64,683
Total Liabilities and
Shareholders' Equity $269,993 $ 285,847
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion