Amtrol Reports Second Quarter Results.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. , R.I.--(BUSINESS WIRE) AMTROL Inc. today announced 2001 second 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 $48.8 million, a decrease of $2.5 million or 4.9% compared to the second 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 substantially weaker North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. 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 Inc. 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 gas cylinder n → bombona de gas gas cylinder gas n → bouteille f de gaz gas cylinder gas n → . 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 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)
QUARTER ENDED SIX MONTHS ENDED
---------------------------- -----------------------------
---------------------------- -----------------------------
June 30, July 1, June 30, July 1,
2001 2000 2001 2000
------------- ------------- ------------- --------------
------------- ------------- ------------- --------------
Net Sales $ 48,785 $ 51,272 $ 95,219 $105,605
Operating
Income 3,415 4,292 4,965 9,832
Net Income
(Loss) (1,295) (1,226) (3,750) (915)
EBITDA 6,999 7,651 12,200 17,049
CONSOLIDATED BALANCE SHEETS
(in thousands)
----------------------------------------------------------------------
----------------------------------------------------------------------
ASSETS
June 30, July 1,
2001 2000
------------- --------------
------------- --------------
Current Assets $ 58,376 $ 64,332
Property, Plant and Equipment, Net 42,333 44,652
Other Assets 170,074 175,258
------------- --------------
------------- --------------
Total Assets $ 270,783 $284,242
============= ==============
============= ==============
LIABILITIES AND
SHAREHOLDERS' EQUITY
Current Liabilities $ 48,603 $ 51,411
Long Term Debt,
Less Current Maturities 164,034 163,914
Other Noncurrent Liabilities 4,240 5,078
Shareholders' Equity 53,906 63,839
------------- --------------
------------- --------------
Total Liabilities and
Shareholders' Equity $ 270,783 $284,242
============= ==============
============= ==============
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion