BUSH BOAKE ALLEN REPORTS 1994 EARNINGS OF $1.33 PER SHARE, A 24% INCREASE; FOURTH QUARTER EARNINGS RISE 82% to $.31 PER SHARE.MONTVALE, N.J.--(BUSINESS WIRE)--January 19, 1995--Bush Boake Allen Inc. (NYSE NYSE See: New York Stock Exchange : BOA boa (bō`ə), name for live-bearing constrictor snakes of the family Boidae, found mostly in the Americas. This family, which also comprises the egg-laying pythons of the Old World, includes the largest of all snakes, as well as many smaller ) a global leader in flavors, fragrances and aroma chemicals aroma chemical, n an odorous chemical with useful properties that is also legal and safe to use as a flavor or fragrance. today reported fourth quarter earnings of $.31 per share, an 82% increase over the $.17 per share earned in 1993's fourth quarter on a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma basis. Net income amounted to $5,954,000 compared to $3,228,000 for the same period last year. Fourth quarter 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 increased 15% to $98,574,000 from $85,395,000 in 1993's fourth quarter. For the full year 1994, the company earned $1.33 per share compared to $1.07 per share in 1993 on a pro forma basis. Net income was $25,543,000 compared to $20,557,000 the prior year, a 24% increase. Net sales for 1994 were $374,991,000 compared to $336,333,000 in 1993. In commenting on 1994's results, Julian W. Boyden, president and chief executive officer of Bush Boake Allen, said, "The strong growth in the company's worldwide flavor and fragrance operations, so evident throughout 1994, continued in the fourth quarter as 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. in this segment of BBA's business increased by 25% with all regions showing gains." Growth continued in the Asia Pacific and Western European regions helped by modernized facilities and improving economic conditions. Operating results were also strong in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , Turkey and India. In the Americas, although markets remained competitive during the fourth quarter, prices began to show some firming due to continued strong demand for fragrances used in household products and toiletries toi·let·ry n. pl. toi·let·ries An article, such as toothpaste or a hairbrush, used in personal grooming or dressing. toiletries npl → artículos mpl de aseo (= and flavors for the food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. industries. Mr. Boyden also noted that BBA's aroma chemical business "registered sharp improvement" with prices for many grades firming on stronger demand. In addition, "we are realizing the benefits of greater operating efficiency and productivity through recent capital investments in our chemical facilities." Summing up the year, Mr. Boyden commented further that "we have accomplished the things we set out to do in 1994 when Bush Boake Allen became a public company in May. We have exceeded our sales and earnings projections for the year, increased our margins, introduced new products and substantially improved our productivity." Looking ahead, Mr. Boyden commented that "our markets continue to look healthy and BBA BBA abbr. Bachelor of Business Administration is well positioned to respond to their growth." Bush Boake Allen, which conducts operations on six continents Six Continents is a large retail PLC in UK which split into Six Continents Retail known as Mitchells and Butlers plc. The hotels and soft drinks business of Six Continents PLC is now known as InterContinental Hotels Group PLC. , has locations in 35 countries worldwide. The company supplies flavors and fragrances to the world's leading consumer products companies for use in foods, beverages, cosmetics, toiletries, personal care items and related products. Its aroma chemicals, natural extracts and essential oils serve as raw materials for a wide range of compounded flavors and fragrances. -0-
Bush Boake Allen Inc.
Comparative Summary of Income (Unaudited)
Fourth Quarter Ended December 25,
1994 1993 Percent
Change
Net Sales $ 98,574,000 $ 85,395,000 15.4% Income from operations 9,498,000 6,408,000 48.2 Income before taxes 8,187,000 5,164,000 58.5 Net income $ 5,954,000 $ 3,228,000 84.4 Pro forma per share $0.31 $0.17 82.4 Pro forma shares outstanding 19,215,000 19,215,000
Year Ended December 25,
1994 1993 Percent
Change
Net Sales $374,991,000 $336,333,000 11.5% Income from operations 41,758,000 33,775,000 23.6 Income before taxes 38,044,000 32,732,000 16.2 Net income $ 25,543,000 $ 20,557,000 24.3 Pro forma per share $1.33 $1.07 24.3 Pro forma shares outstanding 19,215,000 19,215,000 CONTACT: Bush Boake Allen Inc., Montvale Fred W. Brown, 201/782-3363 Stewart J. Phelps, 201/782-3372 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion