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 GOLDEN, Colo., Oct. 25 /PRNewswire/ -- ACX Technologies, Inc. (NASDAQ-NMS: ACXT) today announced improved operating income and net income on a 15.7 percent increase in net sales for the third quarter ended Sept. 30, 1993, compared with the same quarter a year ago.
 Third quarter net income was $3.7 million, or 29 cents per share, up from a net loss of $2.2 million for the same quarter a year earlier. Net income for the nine month period of 1993 was $10.4 million or 82 cents per share. Earnings per share information for 1992 is not applicable because the company's capital structure prior to its spin-off from Adolph Coors Company is not indicative of the current capital structure. Also, the 1992 financial information has been restated to reflect the company's adoption of a calendar year.
 Net sales increased to $162.8 million for the third quarter of 1993, up 15.7 percent from net sales of $140.8 million for the comparable quarter in 1992. Operating income for the 1993 third quarter increased to $7.4 million from $0.6 million for the same period last year. The growth in operating income came primarily from improved performance by the aluminum and ceramics businesses.
 "We are very pleased with the strong third quarter performance by Golden Aluminum Company and the continued earnings growth in Coors Ceramics Company," stated Joe Coors Jr., office of the president. Coors added, "The San Antonio mill continues to increase weekly production volumes and has made considerable advances in the qualification process with other can manufacturers."
 Graphic Packaging reported a modest 1.4 percent improvement in net sales for the third quarter to $49.9 million. Operating income declined $1.3 million to $3.7 million compared to the 1992 third quarter. The flexible packaging market segment realized a 2.5 percent increase in net sales for the third quarter of 1993 -- specifically specialty bags. Net sales for the folding carton market segment were up slightly over the 1992 same quarter, however this segment has experienced volume declines and price concessions in the concentrated detergent line because of the highly competitive consumer packaging market. Also during the third quarter, the company incurred additional costs associated with new product launches in the coffee, bar soap and cereal markets. The operating margin for the first nine months of 1993 was 9.9 percent which remains above the industry average for 1993.
 The packaging industry continues to experience significant price pressures associated with the rapidly changing consumer packaging market and consolidation to build market share. Graphic Packaging's ongoing strategy is to evaluate acquisition opportunities to complement and expand its existing packaging business.
 Coors Ceramics showed continued earnings growth with third quarter 1993 operating income of $5.7 million, a $3.1 million improvement over the same period a year earlier. This increase was supported by net sales of $48.1 million, a gain of 7.7 percent over the 1992 third quarter. The structural group reported strong volume growth in fluid handling products, power tubes used in power generation and medical products. Net sales for the electronic group were down slightly from the prior year same quarter related to a decline in demand in European markets, which is expected to continue into the fourth quarter of 1993. The advanced electronic ceramic packages group continues to benefit from increased demand within the telecommunication industry.
 Golden Aluminum operating income increased $5.6 million to $2.0 million for the 1993 third quarter from the same period a year earlier. The improvement in Golden Aluminum's operating income is primarily the result of a $5.8 million reduction in operating losses at its San Antonio mill. The Ft. Lupton, Colo., mill operating results were relatively unchanged from the previous year quarter. Net sales for Golden Aluminum increased $16.2 million, or 73.4 percent to $38.4 million. Net sales for the Ft. Lupton mill gained $1.2 million or 5.2 percent, of which over half was volume related. The volume increase this quarter resulted from weaker demand during the 1992 third quarter due to an unusually cool summer.
 During the third quarter of 1993, net sales for the San Antonio mill were $13.2 million, principally to Coors Brewing Company. Golden Aluminum has nearly one million pounds of bodystock material in the latter stages of the qualification process with four major can manufacturers. The company expects to be in a position to compete for bodystock business in 1994.
 As previously stated, the outlook for the aluminum can sheet industry presents challenges due to the slower growth rate in domestic can sheet demand and increasing production capacity in the industry which has resulted in weak pricing for rigid container sheet products. As is common in the industry, pricing under Golden Aluminum's existing supply agreements is being negotiated during the fourth quarter and will be based on the prevailing market conditions.
 ACX Technologies continues to invest in new technologies through its research and developmental businesses at Golden Technologies Company, Inc. During the 1993 third quarter, Golden Technologies reported an operating loss of $2.1 million. ACX Technologies concluded the sale of the technology associated with its biotechnology business in August and continues to negotiate the sale of its ceramic operation in Brazil. The ceramic facility in Mississippi will be closed and certain operations will be absorbed by existing ceramic businesses.
 Corporate expenses were $2.0 million for third quarter 1993 and are comparable to first and second quarter 1993 expenses. This represented an increase from 1992 third quarter which did not include certain corporate costs associated with being a separate public company.
 ACX Technologies applies innovative technology to manufacture value-added industrial products. Its core businesses produce high performance consumer and industrial packaging, advanced technical ceramic products and aluminum rigid container sheet. These businesses have developed a prestigious customer base through adherence to quality manufacturing principles and a partnership approach. ACX Technologies is traded on the NASDAQ National Market System under the symbol ACXT.
 Consolidated Statement Of Income
 (In thousands, except per share data)
 Three months ended Nine months ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Net Sales $162,802 $140,763 $483,958 $442,897
 Costs and expenses:
 Cost of goods sold 136,158 121,921 403,248 377,275
 Marketing, general
 and administrative 16,127 14,071 49,652 43,943
 Research and development 3,144 4,219 11,146 12,744
 Total operating expense 155,429 140,211 464,046 433,962
 Operating Income 7,373 552 19,912 8,935
 Other Income (expense)-net (696) (4,014) (2,250) (11,378)
 Income before income taxes and
 cumulative effect of
 accounting changes 6,677 (3,462) 17,662 (2,443)
 Income tax expense
 (benefit) 3,000 (1,300) 7,300 (900)
 Income before cumulative
 effect of accounting
 changes 3,677 (2,162) 10,362 (1,543)
 Cumulative effect of accounting
 changes -- -- -- (12,454)
 Net Income (loss) $3,677 ($2,162) $10,362 ($13,997)
 Net income per share
 of common stock $0.29 N/A $0.82 N/A
 Weighted average number of
 outstanding shares
 of common stock 12,764 N/A 12,710 N/A
 N/A--Earnings per share information is not applicable because the company's capital structure prior to its spin-off from Adolph Coors company is not indicative of the current capital structure.
 Net Sales Operating Income(Loss)
 1993 1992 1993 1992
 Packaging business $49,917 $49,249 $3,709 $4,979
 Ceramics business 48,134 44,692 5,730 2,648
 Aluminum business 38,370 22,130 1,989 (3,633)
 Research & developmental
 businesses 26,381 24,692 (2,076) (1,589)
 Corporate -- -- (1,979) (1,853)
 $162,802 $140,763 $7,373 $552
 Net Sales Operating Income(Loss)
 1993 1992 1993 1992
 Packaging business $159,058 $156,968 $15,725 $17,420
 Ceramics business 149,156 135,589 20,160 4,858
 Aluminum business 96,073 78,447 952 (3,302)
 Research & developmental
 businesses 79,671 71,893 (10,740) (7,086)
 Corporate -- -- (6,185) (2,955)
 $483,958 $442,897 $19,912 $8,935
 1993 1992
 Cash $10,306 $3,378
 Accounts and notes receivable 81,332 64,468
 Inventory 103,273 97,759
 Other current assets 39,109 28,807
 Total current assets 234,020 194,412
 Properties, net 400,004 410,985
 Other assets 24,402 23,715
 Total assets $658,426 $629,112
 Short-term borrowings $68,000 $73,000
 Other current liabilities 111,797 102,701
 Total current liabilities 179,797 175,701
 Deferred income taxes 14,295 7,303
 Accrued postretirement benefits 22,688 21,742
 Other long-term liabilities 29,079 27,050
 Shareholders' equity 412,567 397,316
 Total liabilities and
 shareholders' equity $658,426 $629,112
 CONDENSED CASH FLOW Nine months ended
 Sept. 30, Sept. 30,
 1993 1992
 Cash flows from operating activities:
 Net income (loss) $10,362 ($13,997)
 Adjustments to reconcile net income (loss)
 to net cash provided by (used in)
 operating activities:
 Depreciation and amortization 30,799 30,401
 Change in deferred income taxes 6,993 (14,228)
 Accrued postretirement benefits 946 21,742
 Change in current assets and
 current liabilities (21,927) (9,382)
 Change in deferred items and other 5,394 6,601
 Net cash provided by
 operating activities 32,567 21,137
 Cash flows used in investing activities (25,430) (33,155)
 Cash flows provided by financing activities (209) 4,616
 Cash and cash equivalents:
 Net increase (decrease) in cash and
 cash equivalents 6,928 (7,402)
 Balance at beginning of year 3,378 22,030
 Balance at end of quarter $10,306 $14,628
 For additional information on ACX Technologies, Inc. by FAX. No cost, Dial 1-800-PRO-INFO, code No. 203.
 -0- 10/25/93
 /CONTACT: Karen Breen, manager investors relations, or Gail Constancio, manager investors relations, 303-271-7001, both of ACX; or Gary Strong or Nick Farina, 312-266-7800, or Mary Michel-Richter, 212-661-8030, all of Financial Relations Board/

CO: ACX Technologies, Inc. ST: Colorado IN: SU: ERN

PS -- NY062 -- 6298 10/25/93 12:01 EDT
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Date:Oct 25, 1993

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