Printer Friendly

SCOTTISH HERITABLE REPORTS THIRD-QUARTER PROFIT

 SCOTTISH HERITABLE REPORTS THIRD-QUARTER PROFIT
 FAIRFAX, Va., Nov. 22 /PRNewswire/ -- Scottish Heritable, Inc. (SHI)


(NASDAQ: SHER), a lime and limestone producer with operations in Texas, Arkansas, Pennsylvania and Virginia, posted a profit during the third quarter of fiscal year 1991.
 "In spite of inclement weather in Texas and a further decline in the demand for aggregates in New Jersey and Pennsylvania, we are pleased to report positive results," said Peter C. Timms, president and chief executive officer.
 Timms reported net earnings for the third quarter were $109,000 on sales of $10,924,000, compared with a loss of $131,000 on sales of $10,922,000 for the third quarter of 1990. Net earnings for the first nine months of the year were $301,000 on sales of $30,037,000, compared with a loss of $1,924,000 on sales of $28,678,000 during the same period in 1990. Timms noted SHI achieved the significant improvement in net earnings after an increase in depreciation of $520,000.
 "The majority of our recent capital expenditures have been aimed at profit improvement and should produce increasing benefits in the coming years," said Timms.
 Timms also pointed out SHI will ship more lime in 1991 than in any fiscal year since 1979.
 The Scottish Heritable Trust PLC, a York, England-based industrial holding company, owns 50.02 percent of SHI's stock.
 -0- 11/22/91
 /CONTACT: Peter C. Timms of Scottish Heritable, 703-207-9702/
 (SHER) CO: Scottish Heritable, Inc. ST: Virginia IN: SU: ERN


CK -- NY051 -- 6416 11/22/91 13:16 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 22, 1991
Words:261
Previous Article:DETROIT'S 'Baa' BOND RATING CONFIRMED BY MOODY'S, CITY AT CRITICAL JUNCTURE
Next Article:COURT RULING UPHELD IN FAVOR OF NATIONAL HERITAGE


Related Articles
SCOTTISH HERITABLE, ANNOUNCES CHAIRMAN'S RESIGNATION; APPOINTS SUCCESSOR, NEW DIRECTOR
SCOTTISH HERITABLE ENTERS INTO LETTER OF INTENT TO SELL RIPPLEMEAD, VA. FACILITY
SCOTTISH HERITABLE, INC. REPORTS PROGRESS DURING 1991 DESPITE DIFFICULT MARKET CONDITIONS
SCOTTISH HERITABLE, INC. REPORTS FIRST QUARTER LOSS DUE TO LOW SEASONAL DEMAND
SCOTTISH HERITABLE REPORTS CLOSING OF THE SALE OF ITS VIRGINIA LIME FACILITY
SCOTTISH HERITABLE, INC. SETTLES LAWSUIT
SCOTTISH HERITABLE, INC. REPORTS SECOND QUARTER RESULTS, CITES SIGNIFICANCE OF VIRGINIA LIME SALE AND LAWSUIT SETTLEMENT
SCOTTISH HERITABLE, INC. POSTS THIRD-QUARTER PROFIT, CITES SUBSTANTIALLY INCREASED PRODUCTIVITY; SALE OF VIRGINIA FACILITY ALSO A FACTOR
SCOTTISH HERITABLE, INC., REPORTS SECOND QUARTER PROFIT
SCOTTISH HERITABLE, INC. REPORTS THIRD QUARTER PROFIT

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