Aldila Reports 1995 Second Quarter and Six Months Results; Signs Letter of Intent with Taylor Made Golf Company to Manufacture Shafts for Burner Bubble Clubs.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif.--(BUSINESS WIRE)--July 19, 1995--Aldila Inc. (NASDAQ/NMS:ALDA ALDA Association of Late-Deafened Adults ALDA Australian Learning Disability Association ALDA Adult Learning Development Association ALDA Asociación Larense de Astronomía (Barquisimeto, Venezuela) ALDA Alabama Dietetic Association ), the nation's leading manufacturer of graphite graphite (grăf`īt), an allotropic form of carbon, known also as plumbago and black lead. It is dark gray or black, crystalline (often in the form of slippery scales), greasy, and soft, with a metallic luster. golf club shafts, today reported 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 for the second quarter ended June June: see month. 30, 1995, of $17.5 million and net income of $2.5 million. In the comparable 1994 quarter, net sales were $23.6 million and net income was $3.7 million. Earnings per share in the 1995 quarter were $0.15, compared to $0.22 in the 1994 quarter. For the six months ended June 30, 1995, sales were $36.3 million and net income was $5.1 million, compared to $40.2 million and $5.7 million, respectively, in 1994. Earnings per share were $0.30 for the first half of 1995, versus $0.34 in the same 1994 period. Aldila said the expected lower quarterly sales to Callaway Callaway may refer to:
Separately, Aldila announced that it has signed a Letter of Intent with Taylor Taylor, city (1990 pop. 70,811), Wayne co., SE Mich., a suburb of Detroit adjacent to Dearborn; founded 1847 as a township, inc. as a city 1968. A small rural village until World War II, it developed significantly in the second half of the 20th cent. Made Golf Co. for the manufacture of graphite shafts for Taylor Made's new Burner A drive that writes write-once optical discs such as CD-Rs and DVD-Rs. A "burner" implies a one-time recording, but the term is erroneously used to refer to drives that "write" to re-recordable CD-RW and DVD-RW/+RW media as well. See burn, CD-R and DVD-R. Bubble A bit in bubble memory or a symbol in a bubble chart. golf clubs. Aldila said it expects first shipments to be made by the fourth quarter of 1995. "We are delighted that Taylor Made has selected Aldila as one of its suppliers for graphite shafts for this exciting new club," said Gary Gary, city (1990 pop. 116,646), Lake co., NW Ind., a port of entry on Lake Michigan; inc. 1909. Gary was founded by the U.S. Steel Corporation, which purchased the land in 1905 and landscaped it for a city. T. Barbera, president and chief executive officer. "In the past we have worked closely with Taylor Made and will welcome the opportunity to again provide them with Aldila's top quality shafts and support service. "We believe the conversion to graphite shaft shaft (shaft) a long slender part, such as the diaphysis of a long bone. shaft n. 1. An elongated rodlike structure, such as the midsection of a long bone. 2. usage will continue, especially in the lower priced segment of the golf club market," Mr. Barbera added. "Our strong brand image, continuing investments in backward integration Backward Integration A form of vertical integration that involves the purchase of suppliers in order to reduce dependency. Notes: A good example would be if a bakery business bought a wheat farm in order to reduce the risk associated with the dependency on flour. and automation, and lower-cost manufacturing outside the U.S. will enable us to be the competitive price leader serving all market segments." Aldila designs, manufactures and markets graphite golf club shafts for use in clubs assembled as·sem·ble v. as·sem·bled, as·sem·bling, as·sem·bles v.tr. 1. To bring or call together into a group or whole: assembled the jury. 2. and manufactured by leading golf club companies as well as pro shops, custom club shops and repair shops. (Tables follow) -0-
Aldila Inc. and Subsidiaries
Consolidated Balance Sheets - Unaudited
(In thousands, except share data)
June 30, Dec. 31,
1995 1994
Assets
Current assets:
Cash and cash equivalents $19,517 $14,087
Accounts receivable, less allowance for
doubtful accounts of $338 and $363 and
allowance for sales returns of
$785 and $695 5,129 5,098
Inventories 4,250 6,435
Deferred tax assets 3,431 3,431
Prepaid expenses and other current assets 853 839
Total current assets 33,180 29,890
Property and equipment 11,627 11,707
Trademarks and patents, less accumulated
amortization of $1,539 and $1,319 15,799 16,019
Goodwill, less accumulated amortization
of $4,893 and $4,194 51,018 51,717
Deferred financing fees, less accumulated
amortization of $62 and $42 204 224
Total assets $111,828 $109,557
Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 2,422 $ 5,079 Accrued expenses 3,929 5,220 Income taxes payable 1,420 511 Total current liabilities 7,771 10,810 Long-term liabilities: Long-term debt 20,000 20,000 Deferred tax liabilities 7,928 8,038 Deferred rent liabilities 906 932 Total liabilities 36,605 39,780 Commitments and contingencies Stockholders' equity: Preferred stock, 1 cent par value; authorized 5 million shares; no shares issued Common stock, 1 cent par value; authorized 30 million shares; issued and outstanding 16,774,188 and 16,665,626 shares 168 166 Additional paid-in capital 48,801 48,429 Retained earnings 26,254 21,182 Total stockholders' equity 75,223 69,777 Total liabilities and stockholders' equity $111,828 $109,557 -0-
Aldila Inc. and Subsidiaries
Consolidated Statements Of Income-Unaudited
(In thousands, except per share data)
Three months ended Six months ended
June 30, June 30,
1995 1994 1995 1994
NET SALES $17,498 $23,554 $36,314 $40,187
COST OF SALES 9,685 12,660 20,101 21,860
Gross profit 7,813 10,894 16,213 18,327
SELLING, GENERAL AND
ADMINSITRATIVE 3,008 3,686 6,361 6,860
AMORTIZATION OF GOODWILL 350 350 699 699
Operating Income 4,455 6,858 9,153 10,768
Other: Interest expense 329 326 658 655 Other (income), net (229) (49) (403) (68) INCOME BEFORE INCOME TAXES 4,355 6,581 8,898 10,181 PROVISION FOR INCOME TAXES 1,873 2,895 3,826 4,479 NET INCOME $2,482 3,686 $5,072 5,702 EARNINGS PER COMMON SHARE: Net income $ 0.15 $ 0.22 $ 0.30 $ 0.34 Weighted average shares outstanding 16,804 16,804 16,790 16,795 CONTACT: Aldila Inc. Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. J. Cierzan Mary Mary, the mother of Jesus Mary, in the Bible, mother of Jesus. Christian tradition reckons her the principal saint, naming her variously the Blessed Virgin Mary, Our Lady, and Mother of God (Gr., theotokos). Her name is the Hebrew Miriam. Lou Coburn 619/592-0404 or Sard Verbinnen & Co. George Sard/Anna Cordasco 212/687-8080 |
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