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SECOM GENERAL CORPORATION REPORTS LOSS FOR ITS FISCAL FOURTH QUARTER; EXPECTS PROFITABILITY IN FIRST QUARTER ENDING DEC. 31

 LIVONIA, Mich., Dec. 30 /PRNewswire/ -- Secom General Corporation (NASDAQ-NMS: SECM) today announced that it recorded a net loss of $3,510,700, or $1.22 per share on sales of $7,331,300 for its fiscal fourth quarter ended Sept. 30, 1993, compared to a net loss of $525,500 or 19 cents per share on sales of $6,948,600 in the comparable period. "The results, as indicated earlier, include a loss of $3,166,200, or $1.10 per share, resulting from our discontinued Tri-Tec Plastics Inc. subsidiary," said Secom's Chief Financial Officer, David J. Marczak.
 The loss from continuing operations for the quarter ended Sept. 30, 1993 was $344,500, or 12 cents per share, compared to a loss of $531,500, or 19 cents per share, for the same quarter in 1992.
 "We showed a strong improvement in our core business of metal parts forming and toolmaking throughout the year," said Roy A. McKnight, Secom's chairman.
 "With Tri-Tec sold, and sales increasing at our continuing operations, we expect the first quarter ending Dec. 31, 1993, and fiscal year 1994 to be profitable," said McKnight.
 The following table details Secom's financial results for the year and quarter ended Sept. 30, 1993.
 Secom operates five subsidiaries in two areas of basic manufacturing: metal parts forming and toolmaking, serving principally the automotive, trucking, consumer and construction industries.
 SECOM GENERAL CORPORATION
 (UNAUDITED)
 Fourth Quarter Ended Fiscal Year Ended
 09/30/93 09/30/92 09/30/93 09/30/92
 Sales $7,331,300 $6,948,600 $29,356,000 $27,574,400
 Income (loss) before
 provision (471,200) (811,000) (12,700) 294,800
 Provision for
 (benefit from)
 income taxes (126,700) (279,500) --- 80,000
 Income (loss) before
 discontinued operations
 and cumulative effect
 of change in method
 of accounting for
 income taxes (344,500) (531,500) (12,700) 214,800
 Loss from discontinued
 subsidiary, net of tax
 benefit (3,166,200) 6,000 (3,639,800) 37,700
 Income (loss)
 before cumulative
 effect of change
 in method of
 accounting for
 income taxes (3,510,700) (525,500) (3,652,500) 252,500
 Cumulative effect
 of change in method
 of accounting for
 income taxes --- --- --- 379,100
 Net income (loss) ($3,510,700) ($525,500) ($3,652,500) $631,600
 Earnings per share (A):
 Income (loss) before
 discontinued operations
 and cumulative effect
 of change in method
 of accounting for
 income taxes ($0.12) ($0.19) --- $0.08
 Loss from discontinued
 subsidiary (1.10) --- (1.27) 0.01
 Cumulative effect of
 change in method of
 accounting for
 income taxes --- --- --- 0.14
 Net income (loss)
 per share ($1.22) ($0.19) ($1.27) $0.23
 Weighted average shares
 outstanding 2,880,200 2,829,000 2,863,200 2,770,200
 (A) All earnings-per-share data have been restated to reflect the 10% stock dividend declared March 9, 1992.
 -0- 12/30/93
 /CONTACT: Dave Marczak, Secom's secretary/treasurer 313-953-3990; or Alex Tassos & Associates, financial public relations 619-748-0787, for Secom General/
 (SECM)


CO: Secom General Corporation ST: Michigan IN: SU: ERN

KT-KE -- DE010 -- 8144 12/30/93 16:43 EST
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Publication:PR Newswire
Date:Dec 30, 1993
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