Atkinson reports significant improvement in third quarter earnings.SAN BRUNO San Bruno (săn br  `nō), city (1990 pop. 38,961), San Mateo co., W Calif., a suburb on San Francisco Bay; inc. 1914. There is light manufacturing and petroleum refining. , Calif.--(BUSINESS WIRE)--Nov. 13, 1995--Atkinson
(NASDAQ/NMS: ATKN) today reported results for the quarter and nine
months ended Sept. 30, 1995.
Revenues for the quarter were $91.4 million, versus $109.9 million, for the same period a year ago. Income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the was $1.2 million, compared with a loss of $7.7 million a year ago. Net income increased to $1.2 million, or 13 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. , compared with a loss of $4.7 million, or 53 cents per share, for the same period in 1994. The results for the third quarter of 1994 included approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $3 million of income from discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. . For the first nine months of fiscal 1995, Atkinson Atkinson may refer to: Places In Canada:
Results for the first nine months of 1995 include a $1.9 million gain from property dispositions, while results for the first nine months of 1994 include more than $6 million of income from discontinued operations and a one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. accounting charge of $739,000. The company's backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. at Sept. 30, 1995, was $471 million, a 91 percent increase over the restated backlog of $246 million at Sept. 30, 1994. Jack J. Agresti, President and Chief Executive Officer, said: "I'm I'm Contraction of I am. Our Living Language Speakers of some scattered varieties of American English sometimes use I'm instead of I've or I have in present perfect constructions, as in encouraged by the quarter's results, which are on plan and trending upward. Our backlog of new contract awards during the first three quarters of $427 million is on track but, more importantly, our opportunities to add to this quality backlog during the fourth quarter of this year and into early 1996 remains high." Agresti also reported that on Sept. 29, 1995, the company completed a new, syndicated $40 million line of credit led by Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank. The new line, which extends for two years, increases Atkinson's credit facility by 33.3%. Atkinson operates internationally through three construction companies providing full service construction to markets for power, industrial and commercial building, pulp and paper, mining, infrastructure, and water and wastewater Wastewater is any water that has been adversely affected in quality by anthropogenic influence. It comprises liquid waste discharged by domestic residences, commercial properties, industry, and/or agriculture and can encompass a wide range of potential contaminants and treatment. -0-
Atkinson
Third Quarter, Financial Highlights
For Quarters ended Sept. 30, 1995 and Sept. 30, 1994 (in thousands of dollars except per share data)
1995 1994
Revenue from continuing operations $91,364 $109,942 Income (loss) from continuing operations 1,215 (7,700) Income from discontinued operations, net of income taxes -- 3,007 Net income (loss) 1,215 (4,693) Income (loss) per share from continuing operations 0.13 (0.87) Income per share from discontinued operations, net of income taxes -- 0.34 Net income (loss) per share 0.13 (0.53) For Nine Months Ended Sept. 30, 1995 and Sept. 30, 1994 (in thousands of dollars except per share data)
1995 1994
Revenue from continuing operations $267,536 $360,542 Income (loss) from continuing operations 949 (12,493) Income from discontinued operations, net of income taxes -- 6,048 Income (loss) before cumulative effect of changes in accounting 949 (6,445) Cumulative effect of changes in accounting -- (739) Net income (loss) 949 (7,184) Income (loss) per share from continuing operations 0.10 (1.41) Income per share from discontinued operations, net of income taxes -- 0.68 Income (loss) per share before cumulative effect of changes in accounting 0.10 (0.73) Cumulative effect of changes in accounting per share -- (0.08) Net income (loss) per share (0.10) (0.81)
Values as of Sept. 30:
(in thousands of dollars)
1995 1994
Stockholders' equity $ 81,591 $103,061 Backlog 471,000 246,000(a) (a) Reflects a reduction of $293,000 with regard to a contract later removed from backlog in the 4th quarter of 1994 due to the uncertainty of that contract proceeding. CONTACT: Atkinson, San Bruno Jim Stevens Jim Stevens, born July 16, 1984 in Wurzburg, Germany is a striker currently playing for American USL Second Division side Harrisburg City Islanders. Although he was born in Germany, he is American and grew up in Clifton, Virginia. , 415/876-1681 |
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