Printer Friendly

ALCATEL ALSTHOM EARNINGS UP 20 PERCENT FIRST HALF 1992

ALCATEL ALSTHOM EARNINGS UP 20 PERCENT FIRST HALF 1992
    PARIS, Sept. 30 /PRNewswire/ -- At a meeting chaired by Pierre Suard on Sept. 30, 1992, the board of directors of Alcatel Alsthom (NYSE: ALA) reviewed consolidated sales and earnings for the first six months of 1992.
    Group net income rose to FF 3,115 million, a 20 percent rise over the first six months of 1991 while consolidated sales amounted to FF 79,477 million, an increase of 6 percent over the same period last year. The results of Alcatel nv have been consolidated at 70 percent, following the practice for the same period in 1991 as the transfer of Alcatel nv shares held by ITT to Alcatel Alsthom became effective at the beginning of July 1992.
    Net income per share rose by 11 percent to FF 25.60, while fully diluted earnings per share increased to FF 24.70, an 8 percent increase over June 1991.
    Based on market trends at midyear, sales growth for the full year 1992 should be in line with the increase recorded in the first half. Barring unforeseen circumstances, growth in earnings per share, both primary and fully diluted, should also increase compared to 1991 as a whole.
    Consolidated
    Financial Highlights      First half     First half    Full year
    (in FF million)             1992            1991          1991
    Net sales                  79,477         74,770       160,082
    Income from operations      6,344          6,550        14,945
    Net Income                  3,115          2,599         6,180
    Earnings per Share (in FF)
    Net income per Share        25.60          23.00         51.80
    Fully-diluted earnings
     per share                  24.70          22.90         51.00
    The first half results can be considered to be satisfactory in view of the current economic climate.  The decrease in operational income is due to the depressed conditions of the private telephone equipment market, the profitability of recent acquisitions which is still inferior to the standards of the group, and the temporary reduction of the telephone equipment supply program in Spain.
    Group net income includes further restructuring programs with the cost being partially financed by the disposal of fixed assets.  It also comprises a capital gain, net of tax, of FF 437 million for the disposal of treasury stock, compared to FF 630 million for the first half, 1991.
    The board of directors noted that 3,483,613 shares were created as a result of bond conversions, the exercise of stock options as well as 1991 dividends paid in share form.  At Aug. 31, 1992, Alcatel Alsthom's share capital was established at FF 5,328 million, representing 133.2 million shares, eligible for dividends as of Jan. 1, 1992.
    The board of directors has decided to appoint Jacques Friedmann, in replacement of the late Guy Verdeil.  The board of directors will propose that the next shareholder's meeting approve this appointment.
    -0-             09/30/92
    CONTACT:  (press) J.P. Chapon (Paris) 33.1.40.76.12.03, or (financial) D. Geistodt-Kiener (Paris) 33.1.40.76.12.67
    (ALA) CO:  ALCATEL ALSTHOM IN:  TLS -- NY050 -- X541  09/30/92
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 30, 1992
Words:506
Previous Article:BFI TO HOST GRAND OPENING OF ITS ARBOR HILLS CENTER FOR RESOURCE MANAGEMENT
Next Article:ATAS TO INSTALL BILL COSBY, ANDY GRIFFITH, TED KOPPEL, SHELDON LEONARD, DINAH SHORE AND R.E. (TED) TURNER INTO ITS HALL OF FAME


Related Articles
ITT TO SELL ALCATEL STAKE FOR $3.6 BILLION
ALCATEL ALSTHOM FILES 10 MILLION AMERICAN DEPOSITARY SHARES
MERRILL LYNCH BUSINESS BROKERAGE AND VALUATION SAYS NUMBER OF MERGERS AND ACQUISITIONS ANNOUNCED IN 1992 FIRST QUARTER UP 60 PERCENT
ITT CORPORATION ANNOUNCES 1992 FIRST QUARTER RESULTS
ITT CONCLUDES ALCATEL AGREEMENT
MERRILL LYNCH BUSINESS BROKERAGE AND VALUATION SAYS NUMBER OF MERGERS AND ACQUISITIONS ANNOUNCED IN 2ND QUARTER INCREASED 44 PERCENT
ALCATEL ALSTHOM EARNINGS UP 20 PERCENT FIRST HALF 1992
ALCATEL ALSTHOM REPORTS 6 PERCENT RISE IN NINE MONTHS SALES
ALCATEL ALSTHOM 1992 CONSOLIDATED NET INCOME: INCREASE OF 14 PERCENT TO FF 7.1 BILLION
ALCATEL ALSTHOM REPORTS 1993 FIRST QUARTER ACTIVITY

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