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TOASTMASTER ANNOUNCES RESULTS FOR PERIOD ENDED SEPT. 30, 1992

 TOASTMASTER ANNOUNCES RESULTS FOR PERIOD ENDED SEPT. 30, 1992
 COLUMBIA, Mo., Oct. 15 /PRNewswire/ -- Robert H. Deming, chairman and chief executive officer of Toastmaster Inc. (NYSE: TM), reported today net sales for the three months ended Sept. 30, 1992, were $42,467,000 an increase of 11.1 percent over the $38,238,000 of net sales for the three month period of 1991. Net income before an extraordinary loss for the three months was $2,047,000, an increase of 6.0 percent compared to the $1,932,000 for the like period in 1991. Net income after the extraordinary loss for the three months was $1,493,000. The extraordinary loss was related to the previously announced early retirement of debt. The debt restructuring is estimated to reduce future interest expense by approximately $600,000 annually. Earnings per share before the extraordinary loss for the three months were 27 cents in 1992 compared to 32 cents in 1991 on lower shares outstanding in the 1991 period. Earnings per share after the extraordinary loss for the three months were 20 cents in 1992. Weighted average shares outstanding for the three months ended Sept. 30, 1992 and Sept. 30, 1991 were 7,687,000 and 6,026,000, respectively.
 Deming said, "This quarter contained many highlights and a few frustrations. We successfully completed negotiations on all of our short and long-term debt. We shipped in excess of $6.5 million of 'Grilleries'(TM), a new multi-function cooking appliance, and it was the highest third quarter net sales since the management acquisition in 1987. The frustrations were that orders arrived so late in the quarter we were unable to ship everything within the quarter and the start-up of production on a new humidifier line was delayed by 30 days. While the first two weeks of October shipments were excellent and the humidifiers are now in production, the third quarter could have been much better than we ended up reporting."
 Net sales were $112,893,000 for the nine months ended Sept. 30, 1992, an increase of 6.1 percent from the $107,433,000 for the nine months of 1991. Net income before an extraordinary loss for the nine months was $4,282,000, an increase of 12.6 percent compared to the net income of $3,801,000 for the like period in 1991. Net income after an extraordinary loss for the nine months was $3,728,000. Earnings per share for the nine months ended Sept. 30, 1992, were 59 cents before an extraordinary loss, and 51 cents after an extraordinary loss, compared to 63 cents in 1991, with lower shares outstanding in the 1991 period. Weighted average shares outstanding for the nine months ended Sept. 30, 1992 and Sept. 30, 1991 were 7,232,000 and 6,028,000, respectively.
 "The third quarter of 1992 continued the strong performance in Toastmaster's kitchen appliance business. New products, especially the 'Grillerie,' and continued strong sales of basic kitchen appliances, offset lower sales of Snacksters(TM), snack and sandwich makers," said Daniel J. Stubler, president and chief operating officer. "The improvement in electronic ordering systems allows retailers to continue to tighten the timely receipt of shipments from manufacturers. While this provides greater efficiency for the retailer, it sometimes causes scheduling difficulties when multi-million dollar orders from several customers arrive in the last few days of a quarter. We received over $6.0 million of orders, including significant orders for Grilleries and Snacksters, we couldn't process for shipment within the quarter because of a shortage of available common carrier trucks. Early October shipments will be very strong, but we believe significantly increased promotional efforts will be required between now and Christmas to maximize sales during this difficult economic period," said Stubler.
 Kitchen counter-top appliances, which represented over 83 percent of total gross revenues for the third quarter, increased 3.1 percent. Strong sales of basic kitchen counter-top appliances and strong shipments of the "Grillerie" more than offset an expected decline in Snackster shipments. Sales of environmental products increased 83 percent from the like period of 1991. Strong initial shipments of heaters and some abnormal late season fan orders offset missed sales due to production delays on the new humidifier line. Time products sales increased by over 42 percent for the third quarter of 1992. Household timer sales were particularly strong.
 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)
 Three Month Results
 Percent
 1992 1991 Change
 Net sales $ 42,467 $ 38,238 11.1
 Net income (loss)
 before extraordinary loss $ 2,047 $ 1,932 6.0
 Net income per share
 before extraordinary loss $ .27 $ .32 ---
 Net income (loss)
 after extraordinary loss $ 1,493 $ 1,932 ---
 Net income per share
 after extraordinary loss $ .20 $ .32 ---
 Weighted average common
 and common equivalent shares
 outstanding
 (in thousands) 7,687 6,026 ---
 Nine Month Results
 Percent
 1992 1991 Change
 Net sales $ 112,893 $ 107,433 5.1
 Net income (loss)
 before extraordinary loss $ 4,282 $ 3,801 12.6
 Net income per share
 before extraordinary loss $ .59 $ .63 ---
 Net income (loss)
 after extraordinary loss $ 3,728 $ 3,801 ---
 Net income per share
 after extraordinary loss $ .51 $ .63 ---
 Weighted average common
 and common equivalent shares
 outstanding
 (in thousands) 7,232 6,028 ---
 -0- 10/15/92
 /CONTACT: John E. Thompson of Toastmaster, 314-445-8666/
 (TM) CO: Toastmaster Inc. ST: Missouri IN: HOU SU: ERN


MC -- DV012 -- 0679 10/15/92 17:18 EDT
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