Printer Friendly

TOASTMASTER ANNOUNCES RESULTS FOR PERIOD ENDED JUNE 30, 1992

 TOASTMASTER ANNOUNCES RESULTS FOR PERIOD ENDED JUNE 30, 1992
 COLUMBIA, Mo., July 22 /PRNewswire/ -- Robert H. Deming, chairman and chief executive officer of Toastmaster Inc. (NYSE: TM) reported today net sales for the six months ended June 30, 1992 were $70,426,000, an increase of 1.8 percent over the $69,196,000 of net sales for the six month period of 1991. Net income for the six months was $2,234,000 an increase of 19.3 percent compared to the like period in 1991. Earnings per share for the six months were 32 cents in 1992 compared to 31 cents in 1991 on lower shares outstanding in the 1991 period. Weighted average shares outstanding for the six months ended June 30, 1992 and June 30, 1991 were 7,005,000 and 6,029,000, respectively. Deming said, "The new equity financing completed during the first quarter of 1992 significantly reduced Toastmaster's debt, contributing to a corresponding reduction in interest expense for the six months." Net sales were $44,135,000 for the second quarter of 1992, a decrease of 1.3 percent from the $44,700,000 for the second quarter of 1991. Net income for the quarter was $2,354,000, compared to net income of $2,193,000 for the like period in 1991. The increase in net income was 7.3 percent over the second quarter of 1991. Earnings per share for the quarter ended June 30, 1992 were 31 cents compared to 36 cents in 1991 with lower shares outstanding in the 1991 period. Weighted average shares outstanding for the three months ended June 30, 1992 and June 30, 1991 were 7,687,000 and 6,028,000, respectively.
 "The second quarter of 1992 showed continued strength in Toastmaster's kitchen appliance business. The successful introduction of new products, especially the "Grillerie(TM)", a multi-function cooking appliance, and continued strong sales of basic kitchen appliances, offset expected lower sales of Snacksters(TM), snack and sandwich makers, and adverse weather conditions, which significantly impacted the sales of environmental products," said Daniel J. Stubler, president and chief operating officer.
 Kitchen counter-top appliances, which represented over 72 percent of total gross revenues for the second quarter, increased 1.5 percent. Strong sales of basic kitchen counter-top appliances and initial shipments of the "Grillerie" more than offset an expected decline in Snackster shipments. Sales of environmental products decreased 18.6 percent from the like period of 1991 due to continued mild weather conditions. Time products sales increased 20.3 percent for the second quarter of 1992, recovering from the lower sales experienced in the first quarter of 1992.
 Toastmaster, headquartered in Columbia, designs, manufactures, markets and services a wide array of electrical consumer appliances and time pieces under the brand names of Toastmaster(R) and Ingraham(R).
 TOASTMASTER INC
 Financial Summary and Comparisons
 (dollars in thousands, except per share)
 (unaudited)
 Six Month Results Percent
 1992 1991 Change
 Net sales $ 70,426 $ 69,196 1.8
 Net income (loss) $ 2,234 $ 1,872 19.3
 Net income per share $ .32 $ .31
 Weighted average common
 and common equivalent
 shares outstanding
 (in thousands) 7,005 6,029 ---
 Second Quarter Results Percent
 1992 1991 Change
 Net sales $ 44,133 $ 44,699 (1.3)
 Net income (loss) $ 2,352 $ 2,193 7.3
 Net income per share $ .31 $ .36
 Weighted average common
 and common equivalent
 shares outstanding
 (in thousands) 7,687 6,028 ---
 -0- 7/22/92
 /CONTACT: John E. Thompson of Toastmaster, 314-445-8666/
 (TM) CO: Toastmaster Inc. ST: MO IN: HOU REA SU: ERN


MC -- DV008 -- 1953 07/22/92 13:23 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 22, 1992
Words:601
Previous Article:BROOKLYN UNION GAS REPORTS THIRD QUARTER EARNINGS
Next Article:ALBERTO-CULVER DECLARES REGULAR QUARTERLY DIVIDEND
Topics:


Related Articles
TOASTMASTER ANNOUNCES RESULTS FOR PERIOD ENDED SEPT. 30, 1992
TOASTMASTER REPORTS YEAR-END RESULTS
TOASTMASTER REPORTS FIRST QUARTER RESULTS
TOASTMASTER REPORTS SECOND QUARTER RESULTS
TOASTMASTER ANNOUNCES FOURTH QUARTER AND YEAR-END RESULTS; DECLARES INITIAL DIVIDEND
TOASTMASTER REPORTS THIRD QUARTER RESULTS
TOASTMASTER REPORTS FOURTH QUARTER RESULTS
TOASTMASTER REPORTS SECOND QUARTER RESULTS
TOASTMASTER REPORTS SECOND QUARTER 1996 RESULTS
Toastmaster Reports Second Quarter 1997 Results

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