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ACME-CLEVELAND REPORTS PROFITABLE SECOND QUARTER RESULTS DESPITE LOWER VOLUME

 ACME-CLEVELAND REPORTS PROFITABLE SECOND QUARTER
 RESULTS DESPITE LOWER VOLUME
 CLEVELAND, April 21 /PRNewswire/ -- Acme-Cleveland Corporation (NYSE: AMT) today reported earnings after taxes from continuing operations for the second quarter of fiscal 1992 of $.2 million, or $.03 a common share, on sales of $44.4 million. Net earnings, which included income from the utilization of tax loss carryforwards, were $.4 million, or $.05 a common share. For the comparable period in fiscal 1991, the corporation reported earnings after taxes from continuing operations of $1.7 million, or $.26 a common share, on sales of $48.1 million, but incurred a net loss of $4.9 million, or $.78 a common share, as a result of a litigation settlement for a previously discontinued operation.
 For the first six months of fiscal 1992, the corporation reported earnings after taxes from continuing operations of $1.5 million, or $.22 a common share, on sales of $88.2 million, compared to $2.5 million, or $.37 a common share, on sales of $96.4 million for the first six months of fiscal 1991. Net earnings for the first six months of fiscal 1992 were $2.2 million, or $.32 a common share, compared to a net loss of $3.9 million, or $.64 a common share, for the comparable period in fiscal 1991.
 Second quarter consolidated orders booked were $45.0 million, down from $47.1 million booked during the first fiscal quarter, and up from $44.3 million booked during the second quarter of fiscal 1991. The order backlog at March 31, 1992 was $23.7 million compared to $23.8 million at Dec. 31, 1991 and $24.3 million one year ago.
 In commenting on the second quarter, David L. Swift, president and chief executive officer, said "The year-over-year decrease in sales and earnings from continuing operations for the quarter reflected mainly lower demand for metalworking products, and resulted from our relatively low backlog position entering the quarter. Incoming order rates improved for several products as the quarter progressed. Particularly encouraging were quarter-to-quarter order gains for cutting tools and multiple spindle machine products where demand is closely tied to changes in industrial production, and suggests that the domestic economy may finally be recovering. Orders for quality inspection systems, telecommunications test products, and electronic sensors were down from first quarter levels. However, such decreases were due mainly to order timing and not to a decline in market demand.
 "Benefits from any economic recovery, even if already underway, will be largely realized by the corporation in fiscal 1993. Our task for the remainder of fiscal 1992 is to maintain our momentum on manufacturing productivity improvement programs and improve yields as the economy gains strength, while keeping a tight rein on expenses. Our objective for this fiscal year is to offset the earnings impact of a projected year-over-year decrease in volume and match last year's earnings from operations."
 Acme-Cleveland Corporation manufactures and sells telecommunications products, sensor devices and controls, cutting tools, multiple spindle machine tools, quality assurance products and systems, and related parts and services.
 STATEMENT OF CONSOLIDATED OPERATIONS
 ACME-CLEVELAND CORPORATION AND SUBSIDIARIES
 (Unaudited)
 (In thousands, except per share data)
 Three Months Ended
 March 31
 1992 1991
 Net Sales $ 44,447 $ 48,085
 Earnings Before Income Taxes
 and Extraordinary Item $ 644 $ 2,624
 Income Taxes 405 955
 Earnings Before Extraordinary
 Items 239 1,669
 Discontinued Operations - Net of Tax --- (6,365)
 Extraordinary Items-Utilization
 Reversal of Net Operating Loss
 Carryforward 170 (170)
 Net Earnings (Loss) $ 409 $ (4,866)
 Earnings (Loss) per Common Share:
 Continuing Operations $ .03 $ .26
 Discontinued Operations --- (1.01)
 Extraordinary Items .02 (.03)
 Net Earnings (Loss) per common
 share $ .05 $ (.78)
 Number of Shares Used in Computation
 of Net Earnings (Loss) per
 Common Share 6,361 6,291
 Six Months Ended
 March 31
 1992 1991
 Net Sales $88,233 $96,410
 Earnings Before Income Taxes
 and Extraordinary Items $ 3,061 $4,213
 Income Taxes 1,525 1,750
 Earnings Before
 Extraordinary Items 1,536 2,463
 Discontinued Operations - Net of Tax --- (6,365)
 Extraordinary Items-Utilization
 of Net Operating Loss
 Carryforward 650 -0-
 Net Earnings (Loss) $ 2,186 $(3,902)
 Earnings (Loss) per Common Share:
 Continuing Operations $.22 $.37
 Discontinued Operations -0- (1.01)
 Extraordinary Items .10 -0-
 Net Earnings (Loss) per Common
 Share $.32 (.64)
 Number of Shares Used in Computation
 of Net Earnings (Loss) per
 Common Share 6,361 6,291
 -0- 4/21/92
 /CONTACT: Francis R. Appeldorn, vice president-finance of Acme-Cleveland Corporation, 216-292-2100/
 (AMT) CO: Acme-Cleveland Corporation ST: Ohio IN: MAC SU: ERN


CG -- CL022 -- 0836 04/21/92 16:03 EDT
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Date:Apr 21, 1992
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