Printer Friendly

RAYTECH CORPORATION ANNOUNCES THIRD QUARTER RESULTS

 SHELTON, Conn., Nov. 24 ~PRNewswire~ -- Raytech Corporation (NYSE: RAY) today announced a net income of $1.2 million or $.35 per share for the third quarter ended Sept. 27, 1992, compared with a loss of $0.8 million or $.24 for the corresponding period last year.
 The significant improvement in net income is a direct result of sales unit growth.
 Net sales for the first nine months of 1992, excluding the newly acquired Raybestos Reibbelag GmbH, increased 8.2 percent as compared to the same period a year ago. The improvement is a result of increased demand within the automotive original equipment and aftermarket product market segments. The improved performance within the automotive area is being somewhat offset by continued weak economy as it affects the construction and agricultural product market segments.
 Raytech Corporation is headquartered in Shelton, with operations serving world markets for energy absorption and power transmission products, as well as custom engineered components.
 Comparative, unaudited results for the third quarter and the nine- month periods are as follows:
 RAYTECH CORPORATION
 Condensed Consolidated Statements of Operations
 (Unaudited; in thousands except share data)
 For the 13 weeks ended Sept. 27, 1992 Sept. 29, 1991
 Net sales $35,484 $22,678
 Net income 1,161 (760)
 Earnings per share $.35 $(.24)
 Average shares outstanding 3,313,875 3,134,444
 For the 39 weeks ended Sept. 27, 1992 Sept. 29, 1991
 Net sales $92,784 $78,116
 Net income 3,196 1,383
 Earnings per share $.98 $.44
 Average shares outstanding 3,269,439 3,139,120
 -0- 11~24~92
 ~CONTACT: A.A. Canosa of Raytech, 203-925-8000~
 (RAY)


CO: Raytech Corporation ST: Connecticut IN: SU: ERN

LJ-JS -- PH009 -- 0963 11~24~92 10:22 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:Nov 24, 1992
Words:286
Previous Article:PEOPLES PLANS NEW CENTRE COUNTY OFFICE
Next Article:POPE RESOURCES ANNOUNCES CASH DISTRIBUTION
Topics:


Related Articles
RAYTECH CORPORATION ANNOUNCES THIRD QUARTER AND YEAR-TO-DATE RESULTS
RAYTECH ANNOUNCES FIRST QUARTER PROFITS
RAYTECH CORPORATION ANNOUNCES SECOND QUARTER AND YEAR-TO-DATE RESULTS
RAYTECH CORPORATION ANNOUNCES FIRST QUARTER RESULTS FOR 1993
RAYTECH CORPORATION ANNOUNCES SECOND QUARTER RESULTS
RAYTECH CORPORATION ANNOUNCES THIRD QUARTER RESULTS
RAYTECH CORPORATION ANNOUNCES FULL YEAR RESULTS FOR 1993
RAYTECH CORPORATION ANNOUNCES FIRST QUARTER RESULTS FOR 1994
RAYTECH CORPORATION ANNOUNCES SECOND QUARTER RESULTS FOR 1994
RAYTECH CORPORATION ANNOUNCES THIRD QUARTER RESULTS FOR 1994

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