Printer Friendly

McCLAIN INDUSTRIES, INC. ANNOUNCES EARNINGS FOR FIRST QUARTER IN FISCAL 1992

 McCLAIN INDUSTRIES, INC. ANNOUNCES EARNINGS
 FOR FIRST QUARTER IN FISCAL 1992
 STERLING HEIGHTS, Mich., Feb. 28 /PRNewswire/ -- McClain Industries, Inc. (NASDAQ: MCCL) announced sales and earnings for the first quarter ended Dec. 31, 1991.
 Sales for the first quarter in fiscal 1992 were $6,059,000, an 11-percent decrease from sales of $6,817,000 during the same quarter in fiscal 1991. Net income for the first quarter of fiscal 1992 was $89,000 or $.03 a share compared to $268,000 or $.09 a share during the same quarter in fiscal 1991. Included in net income reported for the first quarter in fiscal 1991 is a pre-tax gain on the sale of the Sterling Heights plant of $174,000, or $.04 a share after taxes.
 "The deepening recession is continuing to impact our sales and earnings. While the recession's effects are being felt in all areas of the United States, in all our product lines, our continuing efforts in controlling costs have allowed us to lower our break-even point and will enable us to be competitive when the recession ends," said Kenneth D. McClain, president and chief executive officer.
 McClain Industries, Inc. is one of the nation's leading manufacturers of solid waste handling equipment for the waste disposal industry.
 McCLAIN INDUSTRIES, INC.
 Three Months Ended
 Dec. 31, 1991 Dec. 31, 1990
 Net sales $6,058,944 $6,817,061
 Net income $89,105 $268,070
 Earnings per share $.03 $.09
 Average shares outstanding 2,951,361 2,966,314
 -0- 2/28/92
 /CONTACT: Kenneth McClain of McClain Industries, 313-264-3611/
 (MCCL) CO: McClain Industries, Inc. ST: Michigan IN: SU: ERN


ML-JG -- DE034 -- 3843 02/28/92 16:00 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:Feb 28, 1992
Words:280
Previous Article:SAE INTERNATIONAL CONGRESS DRAWS OVER 37,000
Next Article:ROBERTSON-CECO REPORTS FOURTH QUARTER AND FULL YEAR 1991 RESULTS AND RESTRUCTURING ACTIONS
Topics:


Related Articles
McCLAIN INDUSTRIES, INC. ANNOUNCES FISCAL 1991 EARNINGS
McCLAIN INDUSTRIES, INC. ANNOUNCES SALES AND EARNINGS FOR THE THIRD QUARTER AND NINE MONTHS ENDED JUNE 30, 1992
MCCLAIN INDUSTRIES, INC. ANNOUNCES FISCAL 1992 EARNINGS
McCLAIN INDUSTRIES, INC. ANNOUNCES EARNINGS FOR FIRST QUARTER IN FISCAL 1993
McCLAIN INDUSTRIES ANNOUNCES SALES AND EARNINGS FOR THE SECOND QUARTER AND SIX MONTHS ENDED MARCH 31, 1993
MCCLAIN INDUSTRIES, INC. ANNOUNCES FISCAL 1993 EARNINGS
McCLAIN INDUSTRIES, INC. ANNOUNCED RECORD EARNINGS FOR FIRST QUARTER IN FISCAL 1994
MCCLAIN INDUSTRIES, INC. ANNOUNCES SALES AND EARNINGS FOR THE SECOND QUARTER AND SIX MONTHS ENDED MARCH 31, 1994
McCLAIN INDUSTRIES, INC. ANNOUNCES EARNINGS FOR FIRST QUARTER IN FISCAL 1996
McClain Industries, Inc. Announces Earnings for First Quarter in Fiscal 1997

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