Printer Friendly

BETZ LABORATORIES, INC. HAS RECORD YEAR

 TREVOSE, Pa., Jan. 26 /PRNewswire/ -- Betz Laboratories, Inc. (NYSE: BTL) reported today that net sales and earnings for the fourth quarter ended Dec. 31, 1992, increased 4 percent and 8 percent, respectively, over the year-ago period.
 Primary earnings per common share rose 10 percent from $.61 to $.67 based on an average of 28,454,032 shares outstanding in 1992 vs. 28,439,502 shares outstanding in 1991. Fully diluted earnings per common share increased 9 percent to $.63 from $.58 in the same year-ago quarter.
 Net sales and earnings for the year ended Dec. 31, 1992, increased by 6 percent and 9 percent, respectively, over the year-ago period. Primary earnings per common share rose 10 percent from $2.47 to $2.71 based on an average of 28,473,521 shares outstanding in 1992 vs. 28,546,584 shares outstanding in 1991. Fully diluted earnings per common share rose 9 percent to $2.58 from $2.36 in the similar period last year.
 BETZ LABORATORIES, INC.
 (In thousands, except per-share amounts)
 Fourth Quarter Year
 1992 1991 1992 1991
 Net Sales $172,589 $165,566 $706,972 $665,565
 Earnings Before
 Income Taxes 32,932 30,433 134,171 123,810
 Taxes on Income 12,843 11,869 52,124 48,286
 Net Earnings 20,089 18,564 82,047 75,524
 Net Earnings per
 Common Share:
 Primary $.67 $.61 $2.71 $2.47
 Fully Diluted $.63 $.58 $2.58 $2.36
 Commenting on results of operations, John F. McCaughan, chairman and chief executive officer, said, "We are pleased with our fourth quarter and 12 months results considering the state of the economy. Our foreign operations led the way in the fourth quarter and reported strong sales gains in Europe, Australia and the Caribbean. Betz Inc., our Canadian subsidiary, reported its best quarter of the year and recorded a double- digit increase in sales to the pulp and paper industry.
 "Within the U.S., Betz Industrial, our largest operating unit, which markets the company's line of boiler water, cooling water and wastewater speciality chemical treatment programs to large industrial users of water, had its most difficult quarter of the year. Modest sales gains to the chemical processing, electric utilities, primary metals, food and independent power producer industries were offset by sluggish performance to the refining and paper industries," said McCaughan. "Our specialty process chemical business marketed by Betz Process Chemicals, Inc., Betz PaperChem, Inc. and the Betz MetChem Division continued to grow at a faster rate than our domestic water treatment business, but at a slower pace than earlier quarters.
 "Although economists forecast that the gross domestic product in the fourth quarter grew at an annual rate of approximately 3 percent, capacity utilization is still well below historical levels achieved during a healthy economy. Due to excess capacity, many of our customers still remain on austerity programs to control operating costs. Going forward into 1993, we are optimistic that our treatment programs, which help customers reduce unit costs, will stimulate demand for our products."
 Betz Laboratories, Inc., an international company headquartered in Trevose, produces and markets a wide range of engineered programs and specialty chemical products for process systems. The company's services are utilized in a variety of industrial and commercial applications, with particular emphasis on the power, chemical, petroleum refining, paper, automotive and steel industries.
 /delval/
 -0- 1/26/93
 /CONTACT: R. Dale Voncanon, vp-finance of Betz Laboratories, 215-355-3300/
 (BETZ)


CO: Betz Laboratories, Inc. ST: Pennsylvania IN: SU: ERN

MK-CC -- PH024 -- 9081 01/26/93 12:33 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:Jan 26, 1993
Words:589
Previous Article:MERIDIAN DECLARES QUARTERLY DIVIDEND
Next Article:UNITED MEDICAL DECLARES $.05 QUARTERLY DIVIDEND


Related Articles
BETZ LABORATORIES HAS RECORD YEAR
BETZ LABORATORIES DECLARES DIVIDEND
BETZ LABORATORIES DECLARES DIVIDENDS
BETZ LABORATORIES REPORTS RECORD FIRST QUARTER SALES AND EARNINGS
BETZ LABORATORIES REPORTS RECORD SALES AND EARNINGS
BETZ LABORATORIES DECLARES DIVIDENDS
BETZ LABORATORIES DECLARES DIVIDENDS
BETZ LABORATORIES DECLARES DIVIDEND

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