Elsag Bailey Announces Preliminary Results for 1995 First Quarter.Rotterdam, the Netherlands--(BUSINESS WIRE)--April 5, 1995--Elsag Bailey Process Automation N.V. today announced preliminary indications for the first quarter of 1995. Revenues are anticipated to be about five percent lower than expected due to the particular mix in backlog at some operating units operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon during the quarter, delays experienced in the Detroit project, and delays related to the change in our management and information system at the U.S. operations. A slight shortfall, both in revenues and earnings, was experienced in the Fischer & Porter product line due to the delay in obtaining all the benefits anticipated from the integration of the acquired company. Resulting earnings per share, including the expected dilution related to the Fischer & Porter acquisition, should be in the range of $0.13 to $0.15 per share, before non-recurring restructuring costs of $0.04 per share. Earnings per share for the first quarter of 1994 were $0.24 per share. However, the double-digit order growth rate in the quarter, which confirms the positive trend established in the second half of last year, supports an optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op outlook for 1995. "We believe that the first-quarter results will not materially impact the overall outlook for the Company in 1995. Our optimism is supported by the order strength and the progress made in the integration of Fischer & Porter into our organization," said Vincenzo Cannatelli, Managing Director and Chief Executive Officer. Elsag Bailey expects to report first-quarter financial results by the end of April 1995, after the meeting of its Supervisory Board Supervisory board The board of directors that represents stakeholders in the governance of the corporation. . Elsag Bailey Process Automation N.V. incorporated in the Netherlands, is a global supplier of process automation systems, field instrumentation products, and related services. The Company's INFI INFI Infinity Pharmaceuticals, Inc. 90 OPEN(R) distributed systems Distributed systems (computers) A distributed system consists of a collection of autonomous computers linked by a computer network and equipped with distributed system software. , instrumentation products and other technologies are installed throughout a wide range of process industries including electric utilities, oil and gas, pulp and paper, chemicals and pharmaceuticals, water and wastewater, metals and ceramics, 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. , and others. Operating units and licensees are located in over 20 countries. CONTACT: Elsag Bailey Process Automation N.V., Pepper Pike, Ohio Pepper Pike is a city in Cuyahoga County, Ohio, United States. It is an affluent East Side suburb of Cleveland. The population was 6,040 at the 2000 census. History William P. Donnelly, 216/585-8700 |
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