Printer Friendly

KYSOR INDUSTRIAL COMMENTS ON TRADING ACTIVITY

 KYSOR INDUSTRIAL COMMENTS ON TRADING ACTIVITY
 CADILLAC, Mich., Oct. 23 /PRNewswire/ -- Kysor Industrial


Corporation (NYSE: KZ) announced today that the company is not aware of any corporate developments or material events giving rise to the sharp increase in share trading activity.
 Today, Value Line issued a supplementary report on Kysor as follows:
 "Kysor Industrial reported record third-quarter earnings of $.66 a share, topping our estimate and the year-earlier profit by roughly $.40. This performance can be traced to both the burgeoning demand for commercial refrigeration products from Kysor's domestic operations and the lessening of losses from its German operations. Stringent cost- containment programs and an uptick in the heavy truck market also contributed. On the news, we have raised our full-year share-earnings estimates for 1992 and 1993 to $1.35 and $1.50 respectively. Kysor shares are now given our top rank for Timeliness."
 On Oct. 15, 1992, Kysor announced significantly improved financial results for the quarter and nine-month period ended Sept. 30, 1992. Sales and revenues for the quarter grew 16 percent to $72.4 million compared to $62.7 million in 1991. Earnings applicable to common stock were $3.5 million compared to $1.4 million for the third quarter in 1991. Primary earnings per common share for the quarter were $.66, a record high performance, compared to $.27 for 1991.
 For the nine-month period, sales and revenues increased 10 percent to $193.0 million vs. $176.2 million reported last year. Earnings applicable to common stock were $6.4 million compared to $.5 million for 1991. Year-to-date primary earnings per common share were $1.22 compared to $.09 last year. Last year's results for the nine-month period include the impact of the establishment of a $4.0 million provision for various litigation equating to ($.49) per share.
 -0- 10/23/92
 /CONTACT: Peter W. Gravelle, executive vice president and COO, or Richard G. De Boer, assistant treasurer, Kysor Industrial Corporation, 616-779-2200/
 (KZ) CO: Kysor Industrial Corporation ST: Michigan IN: SU:


JG -- DE033 -- 4240 10/23/92 14:33 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 23, 1992
Words:342
Previous Article:WILLIAMS CONTROLS EXTENDS EXPIRATION OF WARRANTS
Next Article:BANKINTER NINE MONTHS NET INCOME INCREASES
Topics:


Related Articles
KYSOR INDUSTRIAL CORPORATION ANNOUNCES RESULTS OF BOARD ACTION
KYSOR INDUSTRIAL CORPORATION ANNOUNCES RESULTS OF BOARD ACTION
KYSOR INDUSTRIAL RESPONDS TO FLUCTUATION IN COMMON STOCK PRICE
KYSOR INCREASES DIVIDEND 10 PERCENT
KYSOR INDUSTRIAL CORPORATION ANNOUNCES RESULTS OF BOARD ACTION
KYSOR INCREASES DIVIDEND FOR SECOND TIME IN 1993
KYSOR RAISES DIVIDEND AGAIN
KYSOR INDUSTRIAL CORPORATION ANNOUNCES AUTHORIZATION TO REPURCHASE STOCK
KYSOR INDUSTRIAL CORPORATION ANNOUNCES RESULTS OF BOARD ACTION
KYSOR RESPONDS TO INQUIRIES ABOUT RECENT STOCK PRICE ACTIVITY

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters