Printer Friendly

BURNHAM CORPORATION RELEASES SECOND QUARTER RESULTS, ANNOUNCES DIVIDEND

BURNHAM CORPORATION RELEASES SECOND QUARTER RESULTS, ANNOUNCES DIVIDEND
 LANCASTER, Pa., Aug. 5 /PRNewswire/ -- The following was released today by Burnham Corporation (OTC):
 Financial Highlights
 (In thousands of dollars, except per-share amounts)
 Three months ended June 30 1992 1991
 Sales $26,898 $22,433
 Income (loss) before income taxes 834 (752)
 Provision for income taxes 309 (267)
 Net income (loss) for period 525 (485)
 Earnings (loss) per share $.45 ($.42)
 Six months ended June 30 1992 1991
 Sales $50,605 $40,543
 Income (loss) before income taxes 1,099 (955)
 Provision for income taxes 407 (340)
 Net income (loss) for period 692 (615)
 Earnings (loss) per share $.60 ($.53)
 An upward trend that began in the third quarter of 1991 has continued through the second quarter of 1992. The quarter's sales and earnings had been expected to be lower than the first quarter's because the spring season is generally the slowest for the heating industry. However, due to continued strong order input, all the company's businesses had improved operating results from the prior quarter and last year. Sales revenues for the quarter were $26.9 million, up from $22.4 million in 1991, a 20 percent increase. Net income for the quarter was $525,000 or $.45 per share, vs. a loss of $485,000, or $.42 per share, last year.
 For the first half of the year, sales were $50.6 million, a 25 percent increase from 1991. The Kewanee and Governale acquisitions provided a $6.1 million increase while Burnham's traditional businesses accounted for another $4.0 million. As a result, net income for the period was $692,000, or $.60 per share, vs. a loss of $615,000, or $.53 a share, for the prior year.
 Business activity for the balance of the year is expected to be similar to the second half of last year's, which was a good period for Burnham. With the encouraging first half performance, the outlook for the year is favorable for both sales revenues and earnings.
 On July 23, 1992, the board of directors declared regular quarterly dividends of $.50 per share on the Class A and Class B common stock of the company, payable Sept. 1, 1992, to stockholders of record on Aug. 14.
 /delval/
 -0- 8/5/92
 /CONTACT: Ronald L. Griffith, senior vp-finance and secretary- treasurer of Burnham, 717-293-5811/ CO: Burnham Corporation ST: Pennsylvania IN: SU: ERN DIV


JS-MK -- PH010 -- 6994 08/05/92 10:15 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 5, 1992
Words:408
Previous Article:VIETNAM MEANS BUSINESS WITH INVESTMENT ORIENTATION TRIPS FROM ADVENTURES IN PARADISE
Next Article:CAYELI AWARDS SURFACE CONTRACT
Topics:


Related Articles
BURNHAM CORPORATION RELEASES FIRST QUARTER RESULTS, ANNOUNCES DIVIDEND
BURNHAM CORPORATION DECLARES FIRST QUARTER DIVIDEND
BURNHAM CORPORATION REPORTS FIRST QUARTER 1994 RESULTS
BURNHAM CORPORATION REPORTS FIRST QUARTER RESULTS
Burnham Reports Six Months' Earnings and Declares Dividend
Burnham Declares Dividend and Reports Six Months Earnings
Burnham Reports Record Sales and Declares Dividend.
Burnham Reports Record Sales and Declares Dividend.
Burnham Declares Dividends and Reports Nine Months Results.
Burnham Declares Dividend.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters