TEKTRONIX ESTIMATES SECOND-QUARTER EARNINGS
TEKTRONIX ESTIMATES SECOND-QUARTER EARNINGS BEAVERTON, Ore., Nov. 11 /PRNewswire/ -- Tektronix Inc.
(NYSE: TEK) announced today that its preliminary estimates show that earnings for the second fiscal quarter, which ends Nov. 16, will be approximately 30 percent below the level of last year's second quarter. Last year, the company earned $11,693,000, or 41 cents per share, in the second quarter.
"We are disappointed that our results are not meeting short-term expectations," commented Jerome J. Meyer, chairman, president and chief executive officer of Tektronix, "but we believe the basic plan for improving Tektronix' performance is still sound. Orders for new products such as our color printer and digitizing oscilloscopes are ahead of plan, and our operating expenses remain under tight control. "However, a number of our end-markets, such as the computer and military/aerospace industries, remain sluggish, and our overall sales are being held down by that environment. In addition, we have recently seen a significant decline in our television production equipment business, where we are also in the middle of a major product transition." The company expects to report final results for its second quarter on Dec. 5. -0- 11/11/91 /CONTACT: Fletcher Chamberlin of Tektronix Inc., 503-627-7147/ (TEK) CO: Tektronix Inc. ST: Oregon IN: CPR SU: ERN SC-RJ -- SE006 -- 3138 11/11/91 16:00 EST
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|Date:||Nov 11, 1991|
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