Printer Friendly

UNITED ASSET MANAGEMENT REPORTS SECOND QUARTER RESULTS; NET INCOME UP 43 PERCENT, EPS UP 24 PERCENT, OPERATING CASH FLOW UP 49 PERCENT

 BOSTON, July 22 /PRNewswire/ -- United Asset Management Corporation (NYSE: UAM), which manages $81 billion in assets through 34 affiliates primarily for institutional clients, today reported record financial results for the second quarter ended June 30, 1993. Net income was up 43 percent to $11.7 million from $8.2 million in the second quarter of 1992. Fully diluted earnings per share increased 24 percent to $0.46 from the $0.37 reported in the 1992 quarter. Operating income rose 35 percent to $24.5 million from $18.1 million last year. Revenues in the quarter increased 33 percent to $90.7 million from $68.3 million at June 30, 1992.
 Operating cash flow (cash flow provided by operations before working capital changes) for the second quarter of 1993 increased 49 percent to $25.8 million from $17.3 million last year. Amortization of cost assigned to contracts acquired was $12.0 million or $0.47 per share, up from $8.2 million or $0.35 per share a year earlier. Assets under management increased 28 percent to $81.1 billion from $63.6 billion one year earlier.
 "Strong investment performance by our affiliates, acquisitions made over the last 12 months and net new business from clients all contriontinuing
operations 279 (151) 23 (588)
 Discontinued operation:
 Income from operations -- -- -- 483
 Loss on disposal -- -- -- (3,853)
 -- -- -- (3,370)
 Net income (loss) $ 279 $ (151) $ 23 $(3,958)
 Net income (loss)
 per average
 common share:
 Continuing operations $ .06 $ (.03) $ .01 $ (.13)
 Discontinued operation -- -- -- (.77)
 Net income (loss) $ .06 $ (.03) $ .01 $ (.90)
 Buffton Corporation is a diversified group of companies engaged in the manufacture of electronic and plastic products.
 -0- 7/22/93
 /CONTACT: Robert Korman, vice president and chief financial officer, Buffton Corporation, 817-332-4761/
 (BFX)


CO: Buffton Corporation ST: Texas IN: SU: ERN

LG -- NY034 -- 4428 07/22/93 10:29 EDT
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:Jul 22, 1993
Words:308
Previous Article:ARMCO REPORTS SECOND QUARTER NET INCOME OF $8.7 MILLION
Next Article:DATA SWITCH POSTS FIFTH CONSECUTIVE PROFITABLE QUARTER; REPORTS GROWING ACCEPTANCE OF NEW PRODUCTS
Topics:


Related Articles
UNITED ASSET MANAGEMENT CORPORATION REPORTS STRONG THIRD QUARTER RESULTS; NET INCOME UP 39 PERCENT, EARNINGS PER SHARE UP 22 PERCENT
CHASE BRASS INDUSTRIES REPORTS RECORD THIRD QUARTER, NINE-MONTH EARNINGS
United States Cellular Reports Excellent Growth in Customers, Revenues and Cash Flow; Produces $.33 of Earnings Per Share Before Gains in Second...
National Service Industries Reports Second Quarter Earnings of $24.8 Million.
DIANON Systems Reports Net Income up 44% on 39% Sales Growth.
ITT Industries Reports Q1 2001 EPS Up 14 Percent to $0.65.
Plexus Corp. Reports Fourth Quarter and Fiscal Year Results.
Trimble Announces Record Quarterly Results.
UTC Reports 13 Percent Increase in Third Quarter EPS to $1.43; 2004 EPS Guidance Tightened to High End of Previous Range.
QUALCOMM Announces Record Second Quarter Fiscal 2007 Results.

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