Printer Friendly

SUPRADUR REPORTS RESULTS

    RYE, N.Y., Aug. 13 /PRNewswire/ -- Supradur Companies, Inc. (NASDAQ: SUPD) today announced the results of its second quarter of 1993 and the first six months of 1993.
    Second quarter sales for continuing operations were $5,133,000 as compared to $5,159,000 in 1992.  The loss for the quarter was $84,000 as compared to the same quarter loss for the previous year of $792,000 (prior to extraordinary gains on discontinued operations and an accounting change).  Of the current quarter's loss $57,000 was a currency loss as compared to a gain of $11,000 in the prior year.
    For the six months of 1993, Supradur reported sales of $9,906,000 as compared to $11,340,000 in 1992 ($3,073,000 of the 1992 sales were made by Twin City Tool Co., which ceased operating in 1992).  Net loss for the period was $186,000 (including a currency loss of $35,000) as compared to a 1992 six month loss of $1,343,000 (including a currency loss of $33,000).
    Alfred E. Netter, president, commented, "The operating results were in line with projections.  After a year-and-a-half of major restructuring of the businesses and the way we do business, it is gratifying to see that the diligence and commitment are paying off.  We are encouraged by the return to acceptable gross margins and are extremely proud of the technological accomplishments in the fiber-cement manufacturing business.  Now that we know what can be done, the whole company is re-energized and even more committed to continued improvement and better and better operating results."
    Supradur Companies, Inc. is a diversified company with operating subsidiaries in the United States and Europe.  The company's shares are traded in the over-the-counter market under the NASDAQ symbol SUPD.
                   SUPRADUR COMPANIES, INC.
             Consolidated Statement of Operations
                        (Unaudited)
                          Quarter Ended            Six Months Ended
                        7/4/93       6/28/92      7/4/93      6/28/92
    Sales             $5,133,000   $5,159,000   $9,906,000  $11,340,000
    Net (loss) from
     continued opers.    (84,000)    (792,000)    (186,000)  (1,343,000)
    Discontinued opers.       --    2,065,000           --    1,631,000
    Cumulative effect of
     accounting change        --           --           --      259,000
    Net income (loss)    (84,000)   1,273,000     (186,000)     547,000
    Income (loss) per
     common share          $(.10)       $1.40        $(.21)        $.60
    Average shares
     outstanding         906,500      906,500      906,500      906,500
    -0-             08/13/93
    CONTACT:  Supradur Companies, investor relations, 914-967-8230
    (SUPD) CO:  SUPRADUR COMPANIES, INC. SU:  ERN ST:  NY


-- NY033 -- X602 08/13/93
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 13, 1993
Words:420
Previous Article:KATY INDUSTRIES REPORTS NET INCOME OF $1,532,000 OR $.17 PER SHARE FOR THE SECOND QUARTER OF 1993
Next Article:ESQUIRE COMMUNICATIONS LTD. REPORTS SECOND QUARTER RESULTS
Topics:

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