Printer Friendly

LATSHAW ENTERPRISES REPORTS RESULTS

 LATSHAW ENTERPRISES REPORTS RESULTS
 WICHITA, Kan., Jan. 30 /PRNewswire/ -- Latshaw Enterprises


Incorporated today reported net sales for the year ended Nov. 2, 1991, were $20,775,000 compared to $26,405,000 in 1990. For 1991, there was a net loss of $1,042,000, or $1.80 per share, while 1990 had a net loss of $5,139,000, or $9.09 per share.
 In the fourth quarter of 1991, there was a net loss of $871,000, or $1.51 per share, on sales volume of $5,152,000. This compares to a net loss of $3,644,000, or $6.44 per share, on sales of $6,178,000 for the same period in 1990.
 On Dec. 13, 1991, the company sold 2,036,900 shares of Bionaire stock for approximately $2,903,000 compared to its original cost of $2,721,000 and market value as of Latshaw's fiscal year ended Nov. 2, 1991, of $2,182,000.
 The recession is continuing to affect the sales and resulting manufacturing plans of Latshaw's customers.
 Costs have been reduced in many of the company's operating divisions but the investment in capital equipment and tooling for new products will continue in 1992.
 LATSHAW ENTERPRISES, INC. AND SUBSIDIARIES
 Summary of Sales and Earnings
 (Unaudited; in thousands, except per-share data)
 Periods ended Three months Year
 11/2/91 11/3/90 11/2/91 11/3/90
 Net sales $5,152 $6,178 $20,775 $26,405
 Loss before taxes
 and extraord. item (1,089) (4,013) (1,854) (5,559)
 Income tax benefit (340) (369) (596) (420)
 Loss before extraord.
 item (749) (3,644) (1,258) (5,139)
 Extraordinary item (122) -- 216 --
 Net loss (871) (3,644) (1,042) (5,139)
 Net loss per common share:
 Loss before extraord.
 item $(1.30) $(6.44) $(2.17) $(9.09)
 Extraordinary item (.21) -- .37 --
 Net loss per share (1.51) (6.44) (1.80) (9.09)
 Wtd. avg. shrs. outstg. 579,313 567,544 580,050 565,386
 -0- 1/30/92
 /CONTACT: David G. Carr, VP-finance of Latshaw Enterprises, 316-942-7266, ext. 277/ CO: Latshaw Enterprises Incorporated ST: Kansas IN: SU: ERN


CK-OS -- NY105 -- 5424 01/30/92 16:17 EST
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:Jan 30, 1992
Words:369
Previous Article:OLYMPIC FINANCIAL ANNOUNCES INITIAL PUBLIC OFFERING OF STOCK
Next Article:POLAROID POSTS HIGHER SALES FOR FOURTH QUARTER 1991 AND FULL YEAR


Related Articles
LATSHAW ENTERPRISES REPORTS RESULTS
LATSHAW ENTERPRISES REPORTS RESULTS
LATSHAW ENTERPRISES REPORTS RESULTS
LATSHAW ENTERPRISES REPORTS RESULTS
LATSHAW ENTERPRISES REPORTS RESULTS
LATSHAW ENTERPRISES REPORTS RESULTS
LATSHAW ENTERPRISES REPORTS RESULTS
LATSHAW ENTERPRISES REPORTS RESULTS
LATSHAW ENTERPRISES REPORTS RESULTS
LATSHAW ENTERPRISES REPORTS RESULTS

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