Atlantis Plastics announces first quarter 1995 operating results.MIAMI--(BUSINESS WIRE)--April 27, 1995--Atlantis Plastics Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AGH AGH Akademia Gorniczo-Hutnicza AGH Allegheny General Hospital (Pittsburgh, PA, USA) AGH Alpena General Hospital (Michigan) AGH Helsingborg, Sweden - Angelholm/Helsingborg (Airport Code) ) Thursday announced first quarter 1995 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 of $943,000, or $.12 per share, compared to $797,000, or $.10 per share, for the first quarter of 1994. The first quarter operating results included the impact of certain one-time expenses associated with recently completed changes in the company's senior management team, which equaled approximately $746,000 ($462,000 after-tax), or $.06 per share. Excluding these charges, first quarter 1995 income from continuing operations would have equaled $1.4 million, or $.18 per share, 76% ahead of last year's first quarter income from continuing operations. 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 first quarter of 1995 were a record $77.9 million compared to $54.1 million in the first quarter of 1994, an increase of 44%. Including the expenses associated with the management changes described above, 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. for the first quarter of 1995 equaled $5.5 million compared to $4.6 million in the first quarter of 1994, an increase of 20%. Excluding those expenses, operating income would have equaled $6.2 million, 36% ahead of last year's first quarter operating income. The 44% increase in net sales for the first quarter, compared to last year, reflected increased volumes in both the film and molded mold 1 n. 1. A hollow form or matrix for shaping a fluid or plastic substance. 2. A frame or model around or on which something is formed or shaped. 3. Something that is made in or shaped on a mold. plastics segments, incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. sales dollars from higher pricing, the May 1994 acquisition of an injection molding injection molding n. A manufacturing process for forming objects, as of plastic or metal, by heating the molding material to a fluid state and injecting it into a mold. operation, and added capacity created by the company's capital expansion programs. Anthony F. Bova, president and chief executive officer, commented: "We are very pleased with our record sales performance in the first quarter, which reflects the contribution from several programs implemented in the past year. We are confident that our continuing efforts to significantly reduce costs and improve product quality and customer satisfaction will generate further increases in both sales and earnings for the balance of the year and thereafter." As previously announced, the company declared a quarterly dividend of 2.5 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. , paid April 18, 1995 to common shareholders of record on April 4, 1995. This dividend was paid on both Class A and Class B common shares, and is part of a regular quarterly dividend program approved by the board. Atlantis Plastics Inc. is a leading U.S. manufacturer of polyethylene polyethylene (pŏl'ēĕth`əlēn), widely used plastic. It is a polymer of ethylene, CH2=CH2, having the formula (-CH2-CH2-)n stretch films Stretch Films is a cartoon production company based in New York. It was founded and is run by John R. Dilworth, who is best known for his production of the cartoon Courage the Cowardly Dog. External link
Atlantis Plastics Inc.
Financial Highlights
(In thousands, except per share amounts)
Income Statement Data:
---------------------- Three Months Ended
March 31,
1995 1994
---- ----
Net sales $ 77,857 $ 54,072
Operating income (A) 5,472 4,565
Income from continuing operations (A) $ 943 $ 797 Income (Loss) from discontinued operations, net 8 (12) Net income $ 951 $ 785
Income per common share:
Income from continuing
operations (A) $0.12 $0.10
Income from discontinued
operations, net -- --
Net income $0.12 $0.10
Weighted average shares outstanding 7,560 7,552
(A) Excluding first quarter 1995 expenses associated with senior
management changes of $746,000 ($462,000, net of tax) or
$.06 per share, first quarter 1995 operating income equaled
$6,218,000, and income from continuing operations equaled
$1,405,000, or $.18 per share.
Balance Sheet Data: March 31, Dec. 31,
1995 1994
---- ----
Working capital $ 39,453 $ 32,968
Total assets 216,899 211,521
Total debt 137,118 129,234
Shareholders' equity 41,670 40,422
CONTACT: Atlantis Plastics Inc., Miami A. Richard Hurwitz Vice President, Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. 305/858-2200 |
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