American United Global Inc. reports sales and income for the second quarter and for the six months ended Jan. 31, 1995.DOWNEY Downey, city (1990 pop. 91,444), Los Angeles co., S Calif., a residential and industrial suburb between Los Angeles and Long Beach; inc. 1957. Its many manufactures include metal products, rubber goods, communications equipment, and dairy products. , Calif.--(BUSINESS WIRE)--March 17, 1995--American United Global Inc. (NASDAQ/NMS:AUGI AUGI Autodesk Users Group International AUGI Área Urbanas de Génese Ilegal (Portugal) AUGI Autodesk User Group International ) announced that revenues have remained strong in the three and the six-month periods ended Jan. 31, 1995, for both the manufacturing and distribution group. Sales for the three months ended Jan. 31, 1995, were $29,176,000, approximately a 12 percent increase from the year-earlier quarter of $26,085,000. Sales for the six months ended Jan. 31, 1995, were $57,377,000, compared with the six months ended Jan. 31, 1994, which were $48,799,000, approximately a 18 percent increase. The manufacturing group revenues accounted for $452,000 and $1,550,000 of the increases in the three- and six-month periods, respectively. The distribution group revenues were up $2,639,000 and $7,028,000 for the three- and six-month periods, respectively. These increased revenues included $2,497,000 and $4,190,000 for the three- and six-month periods ended Jan. 31, 1995, from the acquisition of the Sparks Sparks, city (1990 pop. 53,367), Washoe co., W Nev., just E of Reno; inc. 1905. The Southern Pacific RR was the major employer until the dieselization of railroad engines forced the closing (1957) of the railroad shops there. and Hayward Hayward, city (1990 pop. 111,498), Alameda co., W Calif.; settled 1851, inc. 1876. It is an important commercial and distribution center for farm products. Manufactures include wire, plastics, metal and paper products, textiles, machinery, and motor vehicles. outlets. The company took a pre-tax charge of $984,000 during the second quarter to write off its investment in Mexico facilities and to provide for other costs relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the termination of related operations. Although it remains obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. under its lease of the manufacturing facility in Tijuana, Mexico, the company is currently negotiating to sublease sublease n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. the facility. This pre-tax charge is reflected in the net income of the company for the three- and six-month report. Net income for the three months ended Jan. 31, 1995, was $35,000, compared with the year-earlier quarter ended Jan. 31, 1994, of $418,000. For the six-month period ended Jan. 31, 1995, net income was $890,000, compared with the six-month period ended Jan. 31, 1994, of $1,091,000. On a per-share basis for the periods ended Jan. 31, 1995, the three-month was 1 cent per share; the six-month was 16 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. . These compare to the year-earlier period ended Jan. 31, 1994, of 9 cents per share for the three months and 23 cents for the six months. On Jan. 23, 1995, the company reached agreements in principle to sell to the public one third of the common stock of each of its AUG California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Inc. (which includes the operations of National O-Ring O-ring, n a doughnut-shaped flexible gasket made of synthetic material. Used as an overdenture attachment. and Stillman Seal) and Western Power and Equipment operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. . On Feb. 24, 1995, Western Power and Equipment (an over 98 percent owned subsidiary of the company) filed an S-1 Registration Statement with the Securities and Exchange Commission to sell 1 million units in an initial public offering at $8.10 per unit. Each unit consists of one share of common stock, $.001 par value, and one redeemable Redeemable Eligible for redemption under the terms of an indenture. common stock purchase warrant to purchase one share of common stock. The Registration Statement filing is expected to be declared effective by the Securities and Exchange Commission in April 1995. -0-
AMERICAN UNITED GLOBAL INC.
FINANCIAL HIGHLIGHTS
Three Months Ended Six Months Ended
Jan. 31, Jan. 31,
1995 1994 1995 1994
Net sales $29,176,000 $26,085,000 $57,377,000 $48,799,000 Operating income 399,000/a 1,312,000 2,158,000/a 2,623,000 Income from continuing operations 35,000 582,000 890,000 1,203,000 Loss from discontinued operations (net of tax) -- (126,000) -- (175,000) Extraordinary items -- -- -- 138,000 Net income 35,000 456,000 890,000 1,166,000 Dividend on preferred stock -- (38,000) -- (75,000) Net income available for common shareholders 35,000 418,000 890,000 1,091,000 Primary earnings per share or common-share equivalent: Continuing operations 1 cent 12 cents 16 cents 24 cents Discontinued operation -- (3 cents) -- (4 cents) Extraordinary item -- -- -- (3 cents) Net income 1 cent 9 cents 16 cents 23 cents Weighted average number of shares 5,675,000 5,217,000 5,689,000 5,217,000
/a The company took a one-time pre-tax charge of $984,000 during the
second quarter to write off its investment in Mexico facilities
and to provide for other costs relating to the termination of
related operations.
CONTACT: American United Global Inc., Downey Robert M. Rubin, John M. Shahid Mohammed Shahid (born 12 December 1969) is an Indian politician. He stood for the 2004 Lok Sabha elections on the BSP ticket and is currently a Member of Parliament from Meerut. External links
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