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BF GOODRICH REPORTS THIRD-QUARTER RESULTS

 AKRON, Ohio, Oct. 14 /PRNewswire/ -- The BFGoodrich Company (NYSE: GR) today reported third-quarter net income of $17.2 million, or 59 cents a share. For the third quarter of 1992, the company had net income of $2.7 million, or 2 cents a share.
 Sales in the third quarter were $500.8 million, compared with $649.1 million a year ago. BFGoodrich sales and earnings for the third quarter of 1992 included 100 percent of the results of the company's former Geon Vinyl Division. Goodrich sold approximately 50 percent of its interest in The Geon Company (NYSE: GON) in an initial public offering during the second quarter of 1993 and now accounts for its remaining interest as an equity investment.
 Commenting on the company's third-quarter performance, Chairman John D. Ong said, "Our results have improved throughout the year, although earnings remain constrained by economic conditions worldwide and by a weak aerospace original-equipment market. Many of our aerospace and specialty chemicals businesses are doing well, and we are well positioned to benefit from an improvement in economic and business conditions."
 For the third quarter of 1993, the aerospace business segment had operating income of $27.4 million, compared with $20.8 million last year. Results for the 1993 quarter include operating income from Cleveland Pneumatic, which Goodrich acquired in June.
 The specialty chemicals business segment had operating income of $22.5 million, compared with $18.3 million in last year's third quarter.
 Net income for the first nine months of 1993 was $65.8 million, or $2.32 a share. Included in these results were three non-recurring items relating to the gain on BFGoodrich's sale of approximately 50 percent of its interest in The Geon Company and costs associated with streamlining and cost-reduction programs involving Tremco and Simmonds Precision Aircraft Systems. Excluding these unusual items, Goodrich would have reported net income of $20.1 million, or 54 cents a share.
 For the first nine months of 1992, the company had a net loss of $274.2 million, or $10.99 a share. The first nine months of 1992 included a one-time charge of $286.5 million related to the cumulative effect of adopting a new accounting standard (SFAS No. 106) for retiree health-care benefits. Excluding this non-recurring item, Goodrich would have reported net income of $12.3 million, or 23 cents a share, for the first nine months of 1992.
 Sales for the first nine months of 1993 were $1.3 billion, compared with $1.9 billion. The 1992 period includes sales for the former Geon Vinyl Division.
 BFGoodrich provides aircraft systems, components and services and manufactures a wide range of specialty chemicals.
 The following table summarizes sales and income results for the third quarter and first nine months of 1993 and compares them with results for the same periods in 1992.
 THE BFGOODRICH COMPANY
 (BFG sales and earnings for 1992 included 100 percent
 of the results of the company's former Geon Vinyl Division.)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Sales $500.8 $649.1 $1,330.0 $1,911.7
 Pretax Income 23.7 4.2 110.3 18.4
 Income Tax (Expense) (6.5) (1.5) (44.5) (6.1)
 Income Before Cumulative
 Effect of Accounting
 Change 17.2 2.7 65.8 12.3
 Cumulative Effect to
 Jan. 1, 1992, of Change
 in Method of Accounting
 for Post Retirement
 Benefits Other Than
 Pensions --- --- --- (286.5)
 Net Income (Loss) $17.2 $2.7 $65.8 $(274.2)
 Income (Loss) Per Share:
 Primary:
 Before Cumulative
 Effect of
 Accounting Change $ .59 $ .02 $2.32 $ .23
 Net Income (Loss) .59 .02 2.32 (10.99)
 Fully Diluted:
 Before Cumulative
 Effect of
 Accounting Change .59 .02 2.32 .23
 Net Income (Loss) .59 .02 2.32 (10.99)
 Weighted Average Number
 of Shares Outstanding
 (in millions):
 Primary 25.7 25.6 25.7 25.5
 Fully Diluted 25.7 25.6 25.7 25.5
 SEGMENT REPORTING
 Sales:
 Aerospace Products
 and Services $234.2 $186.3 $611.8 $569.7
 Specialty Chemicals 224.9 221.7 624.1 623.7
 Other 41.7 241.1 94.1 718.3
 Totals $500.8 $649.1 $1,330.0 $1,911.7
 Segment Operating
 Income (Loss):
 Aerospace Products
 and Services $ 27.4 $ 20.8 $ 62.4 $ 65.3
 Specialty Chemicals 22.5 18.3 35.4 37.1
 Other .8 (2.6) 4.5 11.0
 Totals $ 50.7 $ 36.5 $102.3 $113.4
 -0- 10/14/93
 /CONTACT: Rob Jewell (media), 216-374-2999, or Tom King (investors), 216-374-2556, both of The BFGoodrich Company/
 (GR GON)


CO: The BFGoodrich Company ST: Ohio IN: CHM ARO SU: ERN

KL-DA -- CL006 -- 2018 10/14/93 08:34 EDT
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Date:Oct 14, 1993
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