Printer Friendly

ALLIS-CHALMERS REPORTS EARNINGS

 ALLIS-CHALMERS REPORTS EARNINGS
 MILWAUKEE, May 13 /PRNewswire/ -- Allis-Chalmers Corporation today


reported net income of $134,000 in the first quarter of 1992 compared with $197,000 in the same period of 1991.
 The reduction in net income was due primarily to decreased sales and profit margin in the company's machine repair business.
 The company's operations are B.R.B. Industries (BRB), a Hoboken, N.J. manufacturer of molded fabric products; Houston Dynamic Service, Inc. (HDS), a machine repair subsidiary in Houston; and Apparatus Repair Company (ARC), a Tracy, Calif. machine repair business.
 First quarter sales were $3.4 million in 1992, approximately the same as 1991. BRB sales were up $192,000 from the same period in 1991. This increase was offset, however, by a decrease in sales at HDS and ARC as a result of a more competitive machine repair market.
 First quarter gross margin as a percentage of sales decreased to 34.8 percent in 1992 from 38.4 percent in 1991 as a result of reduced sales and profitability at HDS and ARC.
 Allis-Chalmers continues pursuing in a prudent manner its program to identify and evaluate candidates for acquisition, with the objectives of increasing its operating base and generating positive cash flow.
 ALLIS-CHALMERS CORPORATION
 (In thousands, except per share)
 Three months ended March 31 1992 1991
 Sales $ 3,430 $ 3,388
 Net income 134 197
 Average common shares 15,272 15,272
 Income per share $ .01 $ .01
 -0- 5/13/92
 /CONTACT: Dennis Thisted of Allis-Chalmers, 414-475-3343/ CO: Allis-Chalmers Corporation ST: Wisconsin IN: SU: ERN


SH-OS -- NY094 -- 9857 05/13/92 15:53 EDT
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:May 13, 1992
Words:267
Previous Article:SYNERGEN APPOINTS DIRECTOR OF QUALITY
Next Article:ELECTRONIC ARTS AND THE SOFTWARE TOOLWORKS NOT TO RENEW DISTRIBUTION AGREEMENT
Topics:


Related Articles
ALLIS-CHALMERS RESTATES RESULTS
ALLIS-CHALMERS SHAREHOLDERS APPROVE 1-FOR-15 STOCK SPLIT
ALLIS-CHALMERS REPORTS RESULTS
ALLIS-CHALMERS REPORTS LOSS
ALLIS-CHALMERS REPORTS 1993 FINANCIAL RESULTS
Allis-Chalmers Corporation Reports Results
Allis-Chalmers Energy Announces First Quarter 2005 Earnings Release and Conference Call Schedule.
Allis-Chalmers Energy Announces Acquisition of Capcoil Tubing Services.
Allis-Chalmers Energy Announces Second Quarter 2005 Earnings Release and Conference Call Schedule.
Allis-Chalmers Energy Announces Second Quarter 2005 Earnings Release and Conference Call Schedule.

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