Arnold Industries Quarterly Earnings Per Share Increase 25% to New Record High.Business Editors LEBANON Lebanon, country, Asia Lebanon (lĕb`ənən, –nŏn'), officially Republic of Lebanon, republic (2005 est. pop. 3,826,000), 4,015 sq mi (10,400 sq km), SW Asia. , Pa.--(BUSINESS WIRE)--July 25, 2000 Arnold Industries, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AIND) announced Tuesday Tuesday: see week. that for the second quarter 2000 the Company achieved an all-time record high earnings per share of $.45, an increase of 25% compared to the second quarter of 1999. Compared to the second quarter of 1999, operating revenues operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. rose 12%, and operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. increased 22%. The company anticipates that operating revenues and operating income for the third quarter of 2000 will also compare favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. to the third quarter of 1999. Set forth below are the Unaudited Consolidated Income Statements consolidated income statement An income statement that combines the income statements of two or more organizations. As with other consolidated statements, a consolidated income statement eliminates any funds owed to or due from firms within the same group. of Arnold Industries for the second quarter of 2000 compared to the second quarter of 1999 and for the first six months of 2000 as compared to the first six months of 1999:
Second Quarter Ended June 30,
2000 1999
---- ----
Operating Revenues $117,340,214 $105,193,036
Operating Income 17,746,469 14,543,831
Income Before Taxes 17,556,513 14,308,253
Net Income 10,893,212 9,010,937
Share Earnings:
Net income per share
- Basic .45 .36
Ave. shares outstanding
- Basic 24,581,626 24,859,653
Net income per share
- Diluted .45 .36
Ave. shares outstanding
- Diluted 24,634,046 25,142,373
Six Months Ended June 30,
2000 1999
---- ----
Operating Revenues $232,172,606 $205,498,683
Operating Income 32,265,985 27,643,490
Income Before Taxes 31,723,530 27,264,319
Net Income 19,871,669 17,203,837
Share Earnings:
Net income per share
- Basic .81 .69
Ave. shares outstanding
- Basic 24,610,330 24,846,392
Net income per share
- Diluted .81 .69
Ave. shares outstanding
- Diluted 24,684,772 25,112,603
Set forth below is a schedule of the Unaudited Operating Revenues,
Expenses and Operating Income of the LTL, TL and Fulfillment/Logistics
segments:
(Dollars in Thousands)
Second Quarter Ended June 30,
2000 1999
---------------------------------------
Amount % Amount %
------ ----- ------ -----
LESS-THAN-TRUCKLOAD
Operating
Revenues 60,601 100.0 53,137 100.0
Operating
Expenses 47,345 78.1 41,936 78.9
------- -------- ------- --------
Operating
Income 13,256 21.9 11,201 21.1
TRUCKLOAD
Operating
Revenues 45,675 100.0 43,189 100.0
Operating
Expenses 42,726 93.5 41,520 96.1
------- -------- ------- --------
Operating
Income 2,949 6.5 1,669 3.9
FULFILLMENT/LOGISTICS
Operating
Revenues 11,064 100.0 8,867 100.0
Operating
Expenses 9,502 85.9 7,190 81.1
------- -------- ------- --------
Operating
Income 1,562 14.1 1,677 18.9
Unallocated
corporate
operating
income (loss) (21) (3)
------- --------
Consolidated
operating income 17,746 14,544
======= ========
(Dollars in Thousands)
Six-Month Period Ended June 30,
2000 1999
---------------------------------------
Amount % Amount %
LESS-THAN-TRUCKLOAD -------- ------ -------- ------
Operating
Revenues 118,145 100.0 102,721 100.0
Operating
Expenses 93,070 78.8 80,822 78.7
-------- ------ ------ ------
Operating
Income 25,075 21.2 21,899 21.3
TRUCKLOAD
Operating
Revenues 91,073 100.0 85,950 100.0
Operating
Expenses 87,314 95.9 83,002 96.6
-------- ------ ------ ------
Operating
Income 3,759 4.1 2,948 3.4
FULFILLMENT/LOGISTICS
Operating
Revenues 22,955 100.0 16,828 100.0
Operating
Expenses 19,499 84.9 13,751 81.7
-------- -------- -------- ------
Operating
Income 3,456 15.1 3,077 18.3
Unallocated
corporate
operating
income (loss) (24) (281)
-------- --------
Consolidated
operating income 32,266 27,643
======== ========
New Penn revenues rose 14% and operating income increased 18% as the operating ratio Operating Ratio A ratio that shows the efficiency of management by comparing operating expense to net sales: was reduced from 78.9 to 78.1. Growth at New Penn is related to several factors including a service improvement initiative begun one year ago to deliver shipments by noon, improved information services See Information Systems. through the web site, the reduction in industry capacity that occurred in the third quarter of 1999 and an expanding economy. A relatively stable pricing environment and the use of advanced information technology to maximize efficiencies contributed to the improvement in operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: . "The AM delivery initiative and use of information technology, including on-board On board usually means to be traveling on some vehicle. For example, Baby On Board. Compare with overboard. Metaphorically, the term on-board is often used to refer to some piece of technology that is integrated in a moving vehicle, for example: Revenues at Arnold Transportation Services grew 6% and operating income surged 77%. Revenue growth was hindered by the continuing shortage of qualified drivers. Arnold Transportation significantly improved operating margins despite rising fuel costs primarily due to a strategic shift in the freight mix. "Unlike many truckload carriers Merrian-Webster online dictionary defines truckload as " a load or amount that fills or could fill a truck". A truckload carrier is a trucking company that generally contracts an entire trailer-load to a single customer. , Arnold Transportation clearly improved its operating performance in the quarter. A portion of the gain was due to the sale of property as the company continues to adjust its assets to maximize the benefits of merging our truckload truck·load n. The quantity that a truck can hold. truckload n → camión m lleno operations. We are pleased to see Arnold Transportation take advantage of its roots as a regional truckload specialist," noted Mr. Arnold. Arnold Logistics' revenue increased 25% compared to the second quarter of 1999 while operating income declined 7%. Arnold Logistics continues to balance expansion in e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. , distribution and contract packaging services to support revenue growth. Mr. Arnold said, "operating margins were hindered during the quarter as Arnold Logistics geared up to meet an even higher rate of growth based on fulfillment customers' sales projections which did not materialize ma·te·ri·al·ize v. ma·te·ri·al·ized, ma·te·ri·al·iz·ing, ma·te·ri·al·iz·es v.tr. 1. To cause to become real or actual: By building the house, we materialized a dream. . Margins will improve as revenue levels are better aligned with the infrastructure in place to support additional growth." Arnold Logistics continues to search for complementary third-party logistics A third-party logistics provider (abbreviated 3PL) is a firm that provides outsourced or "third party" logistics services to companies for part, or sometimes all of their supply chain management function. company acquisitions in the Southwest and Midwest. Several candidates are currently under review. Mr. Arnold announced that the Board of Directors declared the regular quarterly dividend of eleven cents (11(cent)) per share, payable September 1, 2000, to stockholders of record on August 16, 2000. This release contains forward-looking comments that are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed periodically in reports filed by the Company with the Securities and Exchange Commission, including 10-K's, 10-Q's and 8-K's. Arnold Industries, Inc. is a holding company of transportation and logistics companies. For the year 1999, the Company reported consolidated revenues of $428 million. Business units include New Penn Motor Express, a Northeast regional next-day less-than-truckload carrier, Arnold Transportation Services, an irregular HEIR, IRREGULAR. In Louisiana, irregular heirs are those who are neither testamentary nor legal, and who have been established by law to take the succession. See Civ. Code of Lo. art. 874. route and dedicated truckload carrier and Arnold Logistics, an integrated order fulfillment Order fulfillment (in BE also: order fulfilment) is in the most general sense the complete process from point of sales inquiry to delivery of a product to the customer. Sometimes Order fulfillment , distribution, contract packaging and reverse logistics This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. service provider. For more information, please visit our Web site at http://www.aind.com. |
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