Carter Wallace corrects Note A; fourth graph, second line, read it 20,100,000 sted 20,000.--(BUSINESS WIRE)-- In BW1420, (Carter-Wallace), Carter-Wallace Announces Operating Results For the Second Quarter Ended September 30, 1995, in Note A, fourth graph, second line, read it 20,100,000 (sted 20,000) The corrected Note A Follows: (a) As part of its restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). program, the Company decided in September, 1995 to consolidate its two Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. operations in order to reduce costs and increase efficiencies. In this regard, the Company incurred a one-time pre-tax charge of $6,300,000 ($3,720,000 after taxes or $.08 per share) in the quarter ended September 30, 1995. Also included in the quarter ended September 30, 1995 is a one-time pre-tax charge of $8,400,000 ($4,960,000 after taxes or $.11 per share) representing an increase to the restructuring charge restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. recorded in the prior year. The increase relates primarily to lower than anticipated sub-rental income associated with the planned subleasing of office space on which the Company holds a long-term lease. In addition, as previously announced, the Company incurred a one-time pre-tax charge of $1,800,000 ($1,060,000 after taxes or $.02 per share) in the quarter ended September 30, 1995 related to the relocation RELOCATION, Scotch law, contracts. To let again to renew a lease, is called a relocation. 2. When a tenant holds over after the expiration of his lease, with the consent of his landlord, this will amount to a relocation. of one of the Company's divisions to its Cranbury, New Jersey facility. In the quarter ended June 30, 1995, the Company incurred a one-time charge of $20,100,000 ($11,860,000 or $.26 per share) related to the closure of its condom 1. condom - The protective plastic bag that accompanies 3.5-inch microfloppy diskettes. Rarely, also used of (paper) disk envelopes. Unlike the write protect tab, the condom (when left on) not only impedes the practice of SEX but has also been shown to have a high failure manufacturing plant in Trenton, New Jersey. Additional pre-tax charges of approximately $2,000,000 related to the Trenton closing are expected to be incurred in fiscal 1997. CONTACT: Peter Kohn Ruder Finn Ruder Finn is an United States public relations firm founded in 1948 by David Finn and William Ruder. Ruder Finn is a privately held, family-owned company that employs more than 450 people. , Inc. 212-593-6321 |
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