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STANDARD PRODUCTS REPORTS CONTINUED IMPROVEMENT IN SALES AND EARNINGS FOR THE FISCAL 1993 SECOND QUARTER

 CLEVELAND, Jan. 18 /PRNewswire/ -- The Standard Products Co. (NYSE: SPD) today reported continued improvement in sales and earnings for its fiscal 1993 second quarter.
 For the three months ended Jan. 3, 1993, sales increased 11 percent over the year before to $174,795,000. Net income rose to $7,813,000, equal to 65 cents per share, compared with net income of $5,158,000, or 51 cents per share, in the year-ago quarter.
 Sales for the first half of the fiscal year were $339,212,000, an increase of 9 percent over sales of $309,858,000 in the first six months of last year. For the six months, the Company had net income of $12,249,000, equal to $1.02 per share, versus $5,808,000, or 57 cents per share last year.
 North American automotive operations improved during the quarter. Sales increased 9 percent to $111,290,000, the result of good participation on popular car and truck models and despite customer production shutdowns in Canada. During this period, production of the Big Three automakers was level with last year while the total North American car and light truck build of all automakers increased 7 percent. A weak European car build and customer production slowdowns in Canada caused sales of Standard Products' Silent Channel subsidiary in the United Kingdom to lag last year's. As a result, Silent Channel posted a small loss for the quarter.
 Sales of Oliver Rubber, a major producer and marketer of tread rubber for truck tire retreading, were up 11.5 percent to $28,689,000 in the quarter. New dealer marketing programs and increased business with national accounts contributed to the improved results.
 At the Company's Holm Industries subsidiary, a leading manufacturer of plastic and magnetic door seals for home and commercial appliances, sales increased significantly over last year's second quarter. In addition to substantial volume from the recently acquired Jarrow Products unit, Holm recorded increased sales to its appliance customers and growth in its building products lines.
 The previously announced acquisition of the French auto parts supplier Standard Products Industriel (SPI) will be completed this month and, along with Silent Channel, will give Standard Products a significant position in the European market. The Company will pay about $125 million for SPI with funds borrowed from its traditional local banks. In addition, the Company will prepay $35 million of senior notes in the third quarter and replace them at significantly lower interest rates. The prepayment will require an after-tax nonrecurring charge in the third quarter of approximately $2.4 million, or 20 cents per share. It is anticipated that results for the second half of the fiscal year will be impacted adversely by 15-20 cents per share as a result of costs related to the SPI acquisition.
 James S. Reid, Jr., chairman and chief executive officer, said, "The results for the second quarter reflect continuing efforts to control costs and the benefit from lower interest expense resulting from the reduction of debt following the public offering of last spring. We are encouraged by the modest improvement in the North American car build, but the recent forecasts of a decline in car sales in 1993 in Western Europe are a concern. Nonetheless, we are expecting improved operating results for the fiscal year."
 Based in Cleveland, Ohio, The Standard Products Co. manufactures rubber and plastic parts for the automotive original equipment industry at 16 plants in North America and three in the United Kingdom. Its NISCO joint venture operates two automotive sealing plants in the United States. The Company's Holm Industries subsidiary produces plastic and magnetic door seals for home and commercial appliances at four U.S. locations, and its Oliver Rubber subsidiary is a producer of tread rubber for truck tire retreading, with nine manufacturing facilities in North America and the U.K.
 THE STANDARD PRODUCTS COMPANY
 Consolidated Earnings Summary (Unaudited) (000 omitted)
 Three Months Six Months
 Periods Ended 1/3/93 12/29/91 1/3/93 12/29/91
 Net sales $174,795 $157,303 $339,212 $309,858
 Costs and expenses:
 Cost of goods sold 150,314 134,949 296,924 271,428
 Selling, general and
 administrative
 expenses 11,170 10,122 21,774 19,421
 Net interest expense 1,534 3,020 2,800 5,992
 Other income (expense),
 net 6 76 648 (489)
 Income before taxes
 on income 11,783 $ 9,288 $ 18,362 $ 12,528
 Provision for taxes on
 income 3,970 4,130 6,113 6,720
 Net income $ 7,813 $ 5,158 $ 12,249 $ 5,808
 Earnings per common
 share $ .65 $ .51 $ 1.02 $ .57
 Average shares
 outstanding 12,075 10,156 12,063 10,156
 -0- 1/18/93
 /Contact: Aubrey E. Arndt of The Standard Products Co., 216-281-8300; or William L. Dupuy of Edward Howard & Co., 216-781-2400, for The Standard Products Co./
 (SPD)


CO: The Standard Products Co. ST: Ohio IN: AUT SU: ERN

KK -- CL005 -- 5836 01/18/93 10:48 EST
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Date:Jan 18, 1993
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