Genlyte announces higher first quarter 1995 earnings.SECAUCUS, N.J.--(BUSINESS WIRE)--April 27, 1995--The Genlyte Group This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. Inc. (NASDAQ NASDAQ 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 :GLYT) today announced earnings of $.13 per share for the first quarter of 1995. The company earned $.10 in the first quarter of 1994. For the three months ended April 1, 1995, sales increased 10 percent to $110,238,000. Earnings before interest and taxes In financial and business accounting, earnings before interest and taxes (EBIT) is a measure of a firm's profitability that excludes interest and income tax expenses.[1] EBIT = Operating Revenue – Operating Expenses + Non-operating Income increased nearly 26 percent to $4,930,000. However, increases in interest rates since early 1994 resulted in a $457,020 increase in interest expense over the first quarter of 1994, in spite of lower average borrowings. President and Chief Executive Officer Larry Powers Larry Powers was a bodybuilder. He won Mr New York State in 1965. Mr Staten Island. Mr World's Fair. Mr America (Class A). Powers acted in films and television and did several commercials. He contracted Parkinson's disease. said, "We are very pleased with our strong first quarter. Every division except DFT DFT - discrete Fourier transform contributed to our year to year improvement and we are now seeing improvements in DFT's operating results. We have a healthy backlog as we begin the second quarter and the economy seems to be stable, so although short term interest rates and commodity prices remain high, we are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about our prospects through mid 1995." The Genlyte Group Inc. is a leading manufacturer of lighting fixtures and controls for the commercial, residential, and industrial markets. Its products are sold under the brand names of Bronzelite, Crescent, Diamond F, ExceLine, Forecast, Hadco, Lightolier, Stonco, Timely and Wide-Lite in the U.S. and Canadian Fluorescent Industries, Keene-Widelite, Lightolier and Prodel in Canada. -0-
The Genlyte Group Inc.
Consolidated Condensed Statement of Income
(Amounts in thousands except per share amounts)
For the Three Months Ended
April 1, 1995 April 2, 1994
Net sales $110,238 $ 100,271 Operating Profit $ 6,090 $ 5,129 EBIT $ 4,930 $ 3,919 Income Before Tax $ 2,843 $ 2,289 Net Income $ 1,622 $ 1,264 E.P.S.(a) $ 0.13 $ 0.10 Average Shares Outstanding 12,834 12,732 (a) Primary and fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. CONTACT: The Genlyte Group Inc., Secaucus Neil M. Bardach, 201/392-3734 |
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