Printer Friendly

/FIRST AND FINAL ADD -- NY040 -- SAFETY-KLEEN RESULTS/

 SAFETY-KLEEN CORP.
 Consolidated Statement of Earnings
 (Thousands, except per share amounts)
 Periods 17 Weeks 16 Weeks 53 Weeks 52 Weeks
 Ended 1/2/93 12/28/91 1/2/93 12/28/91
 Revenue $251,867 $222,648 $794,542 $695,001
 Operating costs and exps. 194,340 163,132 595,572 498,911
 Selling and admin. exps. 35,789 32,316 113,433 101,592
 Operating income 21,738 27,200 85,537 94,498
 Interest income 425 347 1,326 1,868
 Interest expense (2,947) (4,634) (12,571) (13,017)
 Earnings before income
 taxes and cumulative
 effect of changes in
 accounting principles 19,216 22,913 74,292 83,349
 Income taxes 6,606 9,054 28,955 31,798
 Earnings before cumulative
 effect of changes in
 accounting principles 12,610 13,859 45,337 51,551
 Cumulative effect of changes
 in accounting principles -- -- 300 --
 Net earnings $ 12,610 $ 13,859 $ 45,637 $ 51,551
 Earnings per common and
 common equivalent share:
 Earnings before cumulative
 effect on changes in
 accounting principles $ 0.22 $ 0.24 $ 0.78 $ 0.90
 Cum. effect of changes
 in accounting principles -- -- 0.01 --
 Net earnings $ 0.22 $ 0.24 $ 0.79 $ 0.90
 Average number of common
 and common equivalent
 shares outstanding 58,075 57,397 57,906 57,435
 Cash dividends per common
 share $ 0.085 $ 0.080 $ 0.340 $ 0.320
 Notes:
 1. The company's net earnings for the 17 weeks and 53 weeks ended Jan. 2, 1993, include net losses from its Puerto Rico operations of $1.8 million and $9.0 million, respectively. The company's net earnings for the 16 and 52 weeks ended Dec. 28, 1991, included net earnings from its Puerto Rico operations of $1.8 million and $5.7 million, respectively.
 2. The company adopted Statement of Financial Accounting Standards (SFAS) No. 109 on accounting for income taxes during the first interim period of 1992. The cumulative prior years' effect of the change increased net earnings by $3.2 million or 6 cents per share. The company also adopted SFAS No. 106 on accounting for employee post- retirement benefits retroactive to the first interim priod of 1992. The cumulative prior year's effect of the change reduced net earnings by $2.9 million or 5 cents per share.
 3. The company's interim reporting periods are 12 weeks each for the first three reporting periods of the year and 17 weeks for the fourth reporting period of 1992 and 16 weeks for the fourth period of 1991.
 -0- 2/5/93 AA NY040
 /END FIRST AND FINAL ADD/
 /PRNewswire -- Feb. 5/
 (SK)


CO: Safety-Kleen Corp. ST: Illinois IN: SU: ERN

GK -- NY040A -- 3614 02/05/93 14:54 EST
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:Feb 5, 1993
Words:453
Previous Article:AGRICULTURAL MINERALS COMPANY L.P. REPORTS EARNINGS
Next Article:BALL CORPORATION SPIN-OFF RECEIVES IRS TAX-FREE STATUS APPROVAL
Topics:


Related Articles
SAFETY-KLEEN REPORTS 12% INCREASE IN FIRST QUARTER 1994 EARNINGS
Safety-Kleen Acquires Majority Stake in Information Services Network of 3E Company
Safety-Kleen Confirms Receipt of Proposal From Laidlaw Environmental Services Inc.
Safety-Kleen Announces Merger Agreement with Philip Services Corp., Apollo Advisors, and Blackstone Management Associates
Safety-Kleen Corp. Declares Fourth Quarter Cash Dividend
Safety-Kleen Ratings Still S&PWatch Neg; Philip Svcs' Affirmed
ATTENTION BUSINESS EDITORS:
Safety-Kleen Shareholders Want Laidlaw Offer Considered
Veridium Forms National Pact With Safety-Kleen.
US Postal Service Selects Safety-Kleen as National Provider of Waste Management Services.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters