David White reports profitable second quarter.GERMANTOWN Germantown, residential section of NW Philadelphia, Pa. Settled by Dutch and Germans in 1683, Germantown became one of the earliest printing and publishing centers in the country. , Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .--(BUSINESS WIRE)--July 31, 1996--Despite unseasonable un·sea·son·a·ble adj. 1. Not suitable to or appropriate for the season. 2. Not characteristic of the time of year: unseasonable weather. 3. Poorly timed; inopportune. weather which delayed the start of home construction activity, David White David or Dave White can refer to a number of people:
in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DAWH) today reported net earnings of $29,000 or $0.06 per share for the second quarter ended June June: see month. 30, 1996. In the comparable quarter of 1995 when the company sold its 90% interest in an unprofitable Swiss subsidiary, David White reported a net loss of $457,000 or $0.91 per share. Sales for the second quarter totaled $3,318,000, compared with $4,272,000 a year ago when two months of the Swiss subsidiary's sales were included. For the first half, the leading manufacturer of optical and laser surveying equipment said net earnings totaled $257,000 or $0.56 per share, compared with a net loss of $243,000 or $0.47 per share at the midway Midway, island group (2 sq mi/5.2 sq km), central Pacific, c.1,150 mi (1,850 km) NW of Honolulu, comprising Sand and Eastern islands with the surrounding atoll. Discovered by Americans in 1859, Midway was annexed in 1867. A cable station was opened in 1903. point in 1995. Sales of $7,271,000 were off from $9,099,000 a year earlier. "Our earnings were not as high as we had anticipated, largely because of poor weather conditions that got the housing construction market off to an extremely slow start," commented Tony L. Mihalovich, president and chief executive officer. "Business was strong in June, but we don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. expect to recoup recoup To sell an asset at a price sufficient to recover the original outlay or to offset a previous loss. sales lost in the spring." Mihalovich said construction industry analysts expect the current slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in housing starts to continue into 1997. "Mortgage interest rates are expected to rise moderately, but even a small increase frequently pushes homebuyers to the sidelines Sidelines Hypothetical position referring to noninvolvement in a stock; merely watching. ," said Mihalovich. "In anticipation The performance of an act or obligation before it is legally due. In patent law, the publication of the existence of an invention that has already been patented or has a patent pending, of weaker business conditions, we have begun to significantly reduce inventory levels and have continued to implement programs which will increase productivity at our Berlin (Wis.) manufacturing facility." Mihalovich said David White continued to broaden its markets in the second quarter. During the quarter, the company learned that its popular LL-100 Finish-Line laser carpenter's level Noun 1. carpenter's level - a straight bar of light metal with a spirit level in it bar - a rigid piece of metal or wood; usually used as a fastening or obstruction or weapon; "there were bars in the windows to prevent escape" will be included in this year's Sears Christmas Christmas [Christ's Mass], in the Christian calendar, feast of the nativity of Jesus, celebrated in Roman Catholic and Protestant Churches on Dec. 25. In liturgical importance it ranks after Easter, Pentecost, and Epiphany (Jan. 6). catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. . "This major national account will be extremely important for David White, especially since Sears will sell the product under the David White name," said Mihalovich. "We currently are pursuing other major national accounts." New product development also continued at David White, Mihalovich pointed out. During the quarter, a new LL-200 Finish-Line laser carpenter's level was introduced, providing an economical laser-extended tool for outdoor use. "Both our interior and exterior laser carpenter's levels have been well received because of their distinctive advantages over competing products," concluded Mihalovich. -0-
DAVID WHITE, INC. SECOND QUARTER RESULTS
________________________________________
SALES AND EARNINGS __________________ As of June 30, 1996 and 1995 (unaudited) ($000 except per share data)
Three Months Ended June 30,
___________________________
1996 1995
____ ____
Net Sales $ 3,318 $ 4,272 Earnings Before Other Expenses (Income) and Income Taxes 106 261 Other Expenses (Income) (25) (1) Interest Expense 95 101 Loss on Sale of Subsidiary 0 722 Earnings (Loss) Before Income Taxes 36 (561) Income Taxes (Benefit) 7 (104) Net Earnings (Loss) 29 (457) Net Earnings Per Common Share $ 0.06 $ (0.91) Average Common Shares Outstanding 457,323 504,323
Six Months Ended June 30,
_________________________
1996 1995
____ ____
Net Sales $ 7,271 $ 9,099
Earnings Before Other Expenses (Income)
and Income Taxes 477 652
Other Expenses (Income) (25) 41
Interest Expense 181 177
Loss on Sale of Subsidiary 0 722
Earnings (Loss) Before Income Taxes 321 (288)
Income Taxes (Benefit) 64 (45)
Net Earnings (Loss) 257 (243)
Net Earnings Per Common Share $ 0.56 $ (0.47)
Average Common Shares Outstanding 457,323 516,073
SUMMARY BALANCE SHEETS ______________________ As of June 30, 1996 and 1995 (unaudited) ($000 omitted)
1996 1995
____ ____
ASSETS
Current Assets $ 6,649 $ 6,721
Other Assets 461 714
Plant, Property and Equipment, Net 2,301 2,599
_______ ________
$ 9,411 $ 10,034
_______ ________
_______ ________
LIABILITIES AND STOCKHOLDERS' INVESTMENT
Current Liabilities $ 2,650 $ 2,515
Long Term Liabilities 1,872 2,570
Stockholders' Investment 4,889 4,949
_______ ________
$ 9,411 $ 10,034
_______ ________
_______ ________
CONTACT: David White, Inc., Germantown Tony L. Mihalovich, 414/251-8100 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion