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BLISS & LAUGHLIN INDUSTRIES REPORTS FISCAL 1993 THIRD QUARTER RESULTS

 HARVEY, Ill., July 29 /PRNewswire/ -- Bliss & Laughlin Industries Inc. (NASDAQ-NMS: BLIS) said today that net revenues for the third fiscal quarter, ended June 30, 1993, rose 12 percent to $34,982,000 from $31,240,000 in the year-ago quarter. In the 1993 third quarter, the company experienced a net loss of $554,000, or 14 cents per share, compared to net income of $89,000, or 2 cents per share, in the similar 1992 period.
 For the nine months ended June 30, 1993, net revenues were $102,354,000, up 13 percent from $90,545,000 in the year-earlier period. Net loss for the 1993 nine months was $636,000, or 16 cents per share, compared to a net loss of $32,000, or 1 cent per share, in the 1992 similar period.
 Gregory H. Parker, chairman and chief executive officer, said net income results were not consistent with net sales increases in the third quarter because of continued competitive pricing pressures from domestic competition and increased foreign imports forcing margin compression. Mr. Parker further noted that pricing competition should begin to abate as the market continues to improve. In keeping with this trend, the company instituted price increases on July 5, 1993, and July 13, 1993, which were competitive with industry increases, following raw material increases in the same time period and during the third fiscal quarter.
 Results were negatively impacted by an unusual expense in the 1993 third fiscal quarter of approximately $110,000 which contributed to a nine-month cumulative charge of approximately $260,000 for professional services and employee training related to Bliss & Laughlin Industries' new information system, which will enable the company to provide world- class service to its customers. A portion of the expense was incurred in the company's development of an Activity-Based Costing system. The 1992 first nine-month period was favorably impacted by approximately $100,000 from the sale of a small parcel of land and some excess used equipment.
 Mr. Parker said, "Despite the lagging economy, our order backlog increased 18 percent over the 1993 second quarter." Further, the company has maintained its market share and has balanced inventory levels to meet customers' needs.
 At a ceremony on July 21, 1993, the company's Cartersville, Ga., manufacturing plant was formally presented the Ford Motor Company Q1 Preferred Quality award which recognizes suppliers for achieving a level of excellence and for implementing systems for continuous improvement in meeting and exceeding customers' needs and expectations. The Cartersville facility supplies cold finished steel bars to Ford's Powertrain Division.
 Headquartered in Harvey, Bliss & Laughlin Industries Inc. is a manufacturer of cold finished steel bars, producing the widest range of grades, sizes and shapes in the industry. Its common shares are traded on the NASDAQ National Market System.
 BLISS & LAUGHLIN INDUSTRIES INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF INCOME
 (In thousands except per-share data; unaudited)
 For the three months ended June 30,
 1993 1992
 Net sales $34,982 $31,240
 Income (loss) before income taxes (389) 185
 Income tax (provision) benefit (165) (96)
 Net income (loss) (554) 89
 Net income (loss) per share (.14) .02
 Average shares outstanding 3,970 3,970
 For the nine months ended June 30,
 1993 1992
 Net sales $102,354 $90,545
 Income (loss) before income taxes (178) 38
 Income tax (provision) benefit (458) (70)
 Net income (loss) (636) (32)
 Net income (loss) per share (.16) (.01)
 Average shares outstanding 3,970 3,970
 -0- 7/29/93
 /CONTACT: George W. Fleck, vice president and CFO, Bliss & Laughlin Industries, 312-264-1800; or Leslie Tolan of Doremus & Company, 312-321-1377, for Bliss & Laughlin/
 (BLIS)


CO: Bliss & Laughlin Industries Inc. ST: Illinois IN: AUT SU: ERN

ML-KR -- DE013 -- 7505 07/29/93 12:08 EDT
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Date:Jul 29, 1993
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