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CHAIRMAN SUFFERS STROKE AFTER SUCCESSFULLY CONCLUDING LABOR NEGOTIATIONS IN ITALY

 NEW YORK, Jan. 25 /PRNewswire/ -- Alejandro De Tomaso, president and chairman of the board of De Tomaso Industries, Inc. (DTI) (NASDAQ: DTOM), suffered a stroke on Friday and remains hospitalized in intensive care in Modena, Italy. While his doctors have noted signs of neurological improvement since the attack, it is too early to make a prognosis.
 De Tomaso, 64, had just completed two days of around-the-clock negotiations with government officials and labor unions in Rome, and had returned to Modena shortly before he suffered the stroke.
 The talks concluded in Rome on Thursday with an agreement among the company's Maserati unit, the trade unions and the government to arrange for the layoff of the entire work force at the Lambrate facility in Milan. Under the agreement, the layoffs will be implemented in three stages, 0 ,=<o/M++k increased 29 percent to $79 million, primarily as a result of increased business volume.
 Among other expense categories, advertising and market development expenses decreased 11 percent to $71 million, while professional fees decreased 13 percent to $66 million. Other expenses increased 9 percent to $151 million.
 Accounting Changes
 SFAS No. 106 requires accrual accounting for certain postretirement benefits such as health care and life insurance costs. In adopting SFAS No. 106, Merrill Lynch has elected to recognize a one-time non-cash charge of $132 million pretax ($76.3 million net of income taxes) for the full amount of the accumulated benefit obligation associated with prior service costs. Net earnings for the 1992 first quarter have been reduced to reflect the cumulative effect of this charge.
 SFAS No. 109, which replaced the previous income tax accounting standard SFAS No. 96, allows for the recognition of previously unrecorded deferred tax assets. First quarter 1992 net earnings have been increased by $17.7 million to record the cumulative effect of this accounting change.
 MERRILL LYNCH & CO., INC.
 Preliminary Unaudited Earnings Summary
 (In thousands, except per share amounts)
 Three months ended 12/25/92 Pct. 12/27/91 Pct. Pct. of
 of of Dollar
 Revs.(A) Revs.(A) Change
 Increase
 (Decrease)
 Revenues:
 Commissions $ 582,793 17.8 $ 556,130 17.8 4.8
 Interest & dividends 1,473,573 45.1 1,440,000 46.1 2.3
 Principal transactions 411,255 12.6 396,489 12.7 3.7
 Investment banking 358,976 11.0 374,780 12.0 (4.2)
 Asset management and
 custodial fees 210,242 6.4 197,877 6.4 6.2
 Other 230,646 7.1 157,051 5.0 46.9
 Total revenues 3,267,483 100.0 3,122,327 100.0 4.6
 Interest expense 1,186,796 36.3 1,248,375 40.0 (4.9)
 Net revenues 2,080,687 63.7 1,873,952 60.0 11.0
 Non-interest expenses:
 Compensation &
 benefits 1,067,587 51.3 993,576 53.0 7.4
 Occupancy 118,375 5.7 119,665 6.4 (1.1)
 Communications and
 equipment rental 93,845 4.5 87,758 4.7 6.9
 Depreciation and
 amortization 73,252 3.5 68,850 3.7 6.4
 Brokerage, clearing
 and exchange fees 79,143 3.8 61,245 3.3 29.2
 Advertising and market
 development 70,703 3.4 79,466 4.2 (11.0)
 Professional fees 65,521 3.1 75,055 4.0 (12.7)
 Other 151,156 7.3 138,873 7.4 8.8
 Total non-interest
 expenses 1,719,582 82.6 1,624,488 86.7 5.9
 Earnings before
 income taxes 361,105 17.4 249,464 13.3 44.8
 Income tax expense 139,664 6.8 78,781 4.2 77.3
 Net earnings 221,441 10.6 170,683 9.1 29.7
 Preferred stock dividends 1,365 -- 3,556 -- --
 Net earnings applicable
 to common stockholders 220,076 167,127
 Earnings per common share:
 Primary 1.97 1.46
 Fully diluted 1.96 1.45
 Average shares:
 Primary 111,692 114,850
 Fully diluted 112,529 115,410
 (A) Revenues and interest expense are presented as a percentage of total revenues. Non-interest expenses and earnings are presented as a percentage of net revenues.
 MERRILL LYNCH & CO., INC.
 Preliminary Unaudited Earnings Summary
 (In thousands, except per share amounts)
 Year ended 12/25/92 Pct. 12/27/91 Pct. Pct. of
 of of Dollar
 Revs.(A) Revs.(A) change
 Increase
 (Decrease)
 Revenues:
 Commissions $2,399,686 17.9 $2,137,516 17.3 12.3
 Interest & dividends 5,806,710 43.2 5,761,061 46.6 0.8
 Principal
 transactions 2,146,519 16.0 1,893,725 15.3 13.3
 Investment banking 1,484,067 11.0 1,175,992 9.5 26.2
 Asset management and
 custodial fees 859,031 6.4 774,089 6.3 11.0
 Other 732,278 5.5 620,462 5.0 18.0
 Total revenues 13,428,291 100.0 12,362,845 100.0 8.6
 Interest expense 4,835,267 36.0 5,106,344 41.3 (5.3)
 Net revenues 8,593,024 64.0 7,256,501 58.7 18.4
 Non-interest expenses:
 Compensation and
 benefits 4,364,454 50.8 3,867,849 53.3 12.8
 Occupancy 477,754 5.5 473,562 6.5 0.9
 Communications and
 equipment rental 355,876 4.1 348,969 4.8 2.0
 Depreciation and
 amortization 281,228 3.3 276,125 3.8 1.8
 Brokerage, clearing
 and exchange fees 292,789 3.4 249,861 3.5 17.2
 Advertising and market
 development 301,146 3.5 249,844 3.5 20.5
 Professional fees 256,887 3.0 235,344 3.2 9.2
 Other 641,501 7.5 537,529 7.4 19.3
 Total non-interest
 expenses 6,971,635 81.1 6,239,083 86.0 11.7
 Earnings before income
 taxes and cumulative
 effect of changes in
 accounting principles 1,621,389 18.9 1,017,418 14.0 59.4
 Income tax expense 668,984 7.8 321,301 4.4 108.2
 Earnings before
 cumulative effect
 of change in
 accounting principles 952,405 11.1 696,117 9.6 36.8
 Cumulative effect of
 changes in accounting
 principles, (net of
 applicable income
 taxes) (58,580) (0.7) -- N/M N/M
 Net earnings 893,825 10.4 696,117 9.6 28.4
 Preferred stock dividends 6,339 17,725
 Net earnings applicable
 to common stockholders 887,486 678,392
 Earnings per common share:
 Primary:
 Earnings before
 cumulative effect
 of changes in
 accounting
 principles $8.36 $6.02
 Cumulative effect of
 changes in accounting
 principles (0.52) --
 Net earnings $7.84 $6.02
 Fully diluted:
 Earnings before
 cumulative effect
 of changes in
 accounting
 principles $8.34 $5.90
 Cumulative effect of
 changes in accounting
 principles (0.52) --
 Net earnings $7.82 $5.90
 Average shares:
 Primary 113,201 112,675
 Fully diluted 113,427 114,958
 (A) -- Revenues and interest expense are presented as a percentage of total revenues. Non-interest expenses, cumulative effect of changes in accounting principles and earnings are presented as a percentage of net revenues.
 -0- 1/25/93
 /CONTACT: William Clark, 212-449-7284, or Monica Prihoda, 212-449-7293, both of Merrill Lynch & Co., Inc./ (MER)


CO: Merrill Lynch & Co., Inc. ST: New York IN: FIN SU: ERN

LR-TO -- NY058 -- 8596 01/25/93 14:30 EST
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