AMTROL Reports Record Sales and EBITDA.Business Editors WEST WARWICK West Warwick (wôr`wĭk, –`ĭk), town (1990 pop. 29,268), Kent co., central R.I., on the Pawtuxet River; set off from Warwick and inc. 1913. Textile manufacturing remains a leading industry. West Warwick includes the village of River Point. , RI--(BUSINESS WIRE)--March 24, 2000 AMTROL Inc. today announced 1999 fourth quarter 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 Company recorded higher sales and earnings for the quarter in both North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). . The investments the Company made in
production facilities worldwide have increased capacity and reduced
costs on a worldwide basis, contributing substantially to the
significantly improved earnings.
AMTROL is a worldwide leading producer and marketer of flow and expansion control technology, used in water systems and heating, ventilating ventilating Natural or mechanically induced movement of fresh air into or through an enclosed space. The hazards of poor ventilation were not clearly understood until the early 20th century. Expired air may be laden with odors, heat, gases, or dust. and air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. products, and of returnable and non-returnable containers for a variety of gases. The Company's major products are pressure regulating reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. tanks used in water well and 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 applications, in addition to gas containers. Products are marketed under the Well-X-Trol, Extrol, Therm-X-Trol and Champion 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 Cypress, city, United States Cypress (sī`prəs), city (1990 pop. 42,655), Orange co., S Calif. near Long Beach; inc. 1956. Forest Lawn–Cypress, a branch of the famous cemetery in Glendale, Calif. 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)
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QUARTER ENDED YEAR ENDED
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December 31, December 31, December 31, December 31,
1999 1998 1999 1998
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Net Sales $ 48,706 $ 47,218 $ 212,177 $ 202,142
Operating
Income (Loss) 6,193 1,917 28,944 3,065
Net Income (Loss) 101 (1,471) 1,860 (13,371)
EBITDA 8,800 5,130 38,346 12,485
CONSOLIDATED BALANCE SHEETS
(in thousands)
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ASSETS
December 31, December 31,
1999 1998
-------------------------------
Current Assets $ 57,211 $ 60,429
Property, Plant and Equipment, Net 47,100 53,328
Other Assets 181,333 186,910
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Total Assets $ 285,644 $ 300,667
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LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities $ 51,323 $ 53,787
Long Term Debt, Less Current Maturities 163,385 173,023
Other Noncurrent Liabilities 5,633 7,909
Shareholders' Equity 65,303 65,948
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Total Liabilities and
Shareholders' Equity $ 285,644 $ 300,667
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