Elsag Bailey announces earnings outlook for the 1995 year.AMSTERDAM, the Netherlands--(BUSINESS WIRE)--Jan. 30, 1996-- Elsag Bailey Process Automation N.V. (NYSE NYSE See: New York Stock Exchange :EBY EBY Ente Binacional Yaciretá (Argentina-Paraguay) ) today announced that based on expected revenues of $840 to $850 million, 1995 earnings, before one-time charges, will likely be within a range that approximates 1994 earnings. The Company reported earnings before one-time charges in 1994 of $39.7 million, or $1.69 per share. The Company expects orders to increase by more than five percent in the 1995 fourth quarter, despite the soft electric utility market and the trend of a strengthening US dollar during the quarter. "Many of our end markets continue to experience strong spending levels on process automation equipment," said Vincenzo Cannatelli, Managing Director and Chief Executive Officer. "The Hartmann & Braun integration effort is proceeding well, and the restructuring of the various operating units is progressing as planned. We remain optimistic regarding analysts' expectations for 1996 and 1997." Elsag Bailey expects to announce final results for 1995 during the first week of March, after approval by 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 leading producer of distributed control systems A distributed control system (DCS) refers to a control system usually of a manufacturing system, process or any kind of dynamic system, in which the controller elements are not central in location (like the brain) but are distributed throughout the system with each component , instrumentation products, and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. for the process industries. The firm's technologies are sold worldwide for the automation of varied processes in the electric power, chemical and pharmaceutical, oil and gas, pulp and paper, and other industries. CONTACT: Elsag Bailey, Wickliffe, Ohio Wickliffe is a city in Lake County, Ohio, United States. The population was 13,484 at the 2000 census. Geography Wickliffe is located at (41.609398, -81.472905)GR1. William P. Donnelly, 216/585-8355 |
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