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BLACK & DECKER REPORTS EARNINGS UP SHARPLY IN THIRD QUARTER; DECLARES QUARTERLY DIVIDEND; SELLS DYNAPERT

 TOWSON, Md., Oct. 25 /PRNewswire/ -- The Black & Decker Corporation (NYSE: BDK) today announced net earnings of $19.5 million or 20 cents per common share for the third quarter of 1993, compared to $9.9 million or 8 cents per common share for the same period in 1992.
 Net earnings for the first nine months of 1993 were $52.8 million or 53 cents per common share, compared to a net loss of $210.8 million or ($2.97) per common share for the same period last year. Prior year results have been restated to include a net cumulative charge of approximately $238 million for the adoption of Statement of Financial Accounting Standard (SFAS) No. 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions," and SFAS No. 109, "Accounting for Income Taxes," and reclassified for an extraordinary loss of approximately $2 million for the write-off of debt issuance costs. Excluding these charges, net earnings for the first nine months of 1992 were $28.9 million or 27 cents per common share.
 Reported revenues were significantly influenced by foreign exchange effects. Reported revenues of $1.2 billion for the third quarter and $3.4 billion for the first nine months were flat and up 2 percent, respectively, compared to the same periods last year. Excluding the negative effects of foreign exchange, however, revenues increased 5 percent for the third quarter and the first nine months.
 The corporation also announced that the board of directors declared a quarterly cash dividend of 10 cents per common share, payable on Dec. 27, 1993, to stockholders of record on Dec. 13.
 Commenting on the results for the quarter, Nolan D. Archibald, chairman and chief executive officer, said, "Most of our consumer businesses in the United States reported sales gains in the third quarter, with power tools, accessories, and Kwikset locks achieving double-digit increases. New products, such as the Black & Decker Quantum(TM) line of step-up consumer power tools, additions to our DeWalt(R) professional power tool line, the PowerShot(TM) stapler, and TITAN(TM) locksets are being well received in the market.
 "True Temper Sports remained under pressure from a general decline in industry demand for golf club shafts and a change in the mix of products sold.
 "Excluding foreign exchange effects, sales in our consumer businesses in Europe increased as well. This positive comparison reflected market share gains in several key areas.
 "With the German economy at its lowest level in nearly 20 years, however, and the capital goods and automotive industries continuing to struggle throughout Europe, our commercial and industrial businesses remained weak during the quarter.
 "Improved profitability on consumer sales, particularly in power tools, accessories, and Kwikset locks, offset the negative effects of foreign exchange and lower results at True Temper Sports and in the commercial and industrial businesses. As a result, operating income in the quarter increased 4 percent compared to last year."
 The corporation announced that it completed the sale on Oct. 12, 1993, of its Dynapert through-hole printed circuit board assets to Dover Corporation's Universal Instruments division.
 Black & Decker is a global marketer and manufacturer of quality products used in and around the home and for commercial applications and a major supplier of information systems and services to government and commercial clients.
 THE BLACK & DECKER CORPORATION AND SUBSIDIARIES
 THREE MONTHS ENDED OCT. 3, 1993
 SUMMARY OF CONSOLIDATED EARNINGS
 (Unaudited)
 (in millions except per share data)
 Three Months Ended Oct. 3, Sept. 27,
 1993 1992(A)
 REVENUES:
 Product sales $1,006.7 $ 998.2
 Information systems and services 182.9 187.5
 TOTAL REVENUES 1,189.6 1,185.7
 Cost of revenues
 Products 666.9 649.4
 Information systems and services 137.7 142.7
 Marketing and administrative expenses 312.1 323.2
 Total operating costs and expenses 1,116.7 1,115.3
 OPERATING INCOME 72.9 70.4
 Interest expense (net of interest income) 43.0 50.9
 Other income (expense) 0.1 (2.2)
 EARNINGS BEFORE INCOME TAXES 30.0 17.3
 Income taxes 10.5 7.4
 NET EARNINGS $ 19.5 $ 9.9
 NET EARNINGS APPLICABLE TO COMMON SHARES $ 16.6 $ 7.0
 NET EARNINGS PER COMMON SHARE $ .20 $ .08
 AVERAGE COMMON SHARES OUTSTANDING 83.7 83.4
 (A) Results have been restated to reflect current charges in
 connection with the adoption, as of Jan. 1, 1992, of
 Statement of Financial Accounting Standard No. 106,
 "Employers' Accounting For Postretirement Benefits Other
 Than Pensions."
 THE BLACK & DECKER CORPORATION AND SUBSIDIARIES
 NINE MONTHS ENDED OCT. 3, 1993
 SUMMARY OF CONSOLIDATED EARNINGS
 (Unaudited)
 (in millions except per share data)
 Nine Months Ended Oct. 3, Sept. 27,
 1993 1992(A)
 REVENUES
 Product sales $2,922.8 $2,853.1
 Information systems and services 522.5 532.0
 TOTAL REVENUES 3,445.3 3,385.1
 Cost of revenues
 Products 1,896.2 1,822.3
 Information systems and services 386.5 401.6
 Marketing and administrative expenses 947.0 935.8
 Total operating costs and expenses 3,229.7 3,159.7
 OPERATING INCOME 215.6 225.4
 Interest expense (net of interest income) 129.0 168.6
 Other expense 5.3 5.7
 EARNINGS BEFORE INCOME TAXES, EXTRAORDINARY
 ITEM, AND CUMULATIVE EFFECTS OF CHANGES IN
 ACCOUNTING PRINCIPLES 81.3 51.1
 Income taxes 28.5 22.2
 NET EARNINGS BEFORE EXTRAORDINARY ITEM AND
 CUMULATIVE EFFECTS OF CHANGES IN
 ACCOUNTING PRINCIPLES 52.8 28.9
 Extraordinary loss from early extinguishment
 of debt -- (2.1)
 Cumulative effect to January 1, 1992, of
 change in accounting principle for
 postretirement benefits -- (249.8)
 Cumulative effect to January 1, 1992, of
 change in accounting principle for
 income taxes -- 12.2
 NET EARNINGS (LOSS) $ 52.8 $(210.8)
 NET EARNINGS (LOSS) APPLICABLE TO COMMON
 SHARES $ 44.1 $(219.5)
 NET EARNINGS (LOSS) PER COMMON SHARE:
 Net earnings before extraordinary item
 and cumulative effects of changes in
 accounting principles $ .53 $ .27
 Extraordinary loss from early
 extinguishment of debt -- (.03)
 Cumulative effect adjustment for
 postretirement benefits -- (3.38)
 Cumulative effect adjustment for income
 taxes -- .17
 NET EARNINGS (LOSS) PER COMMON SHARE $ .53 $ (2.97)
 AVERAGE COMMON SHARES OUTSTANDING 83.6 73.9
 (A) Results have been restated to reflect current charges and net
 cumulative charges in connection with the adoption, as of
 Jan. 1, 1992, of Statement of Financial Accounting Standard
 (SFAS) No. 106, "Employers' Accounting For Postretirement
 Benefits Other Than Pensions," and SFAS No. 109, "Accounting for
 Income Taxes." Results have also been reclassified to reflect
 an extraordinary loss on the early extinguishment of debt.
 THE BLACK & DECKER CORPORATION AND SUBSIDIARIES
 CONSOLIDATED BALANCE SHEET
 (in millions)
 Periods ended Oct. 3, Dec. 31,
 1993 1992
 ASSETS
 Cash and cash equivalents $ 91.9 $ 66.3
 Trade receivables 786.4 815.0
 Inventories 865.1 746.8
 Other current assets 158.9 155.0
 TOTAL CURRENT ASSETS 1,902.3 1,783.1
 PROPERTY, PLANT AND EQUIPMENT 783.3 755.7
 GOODWILL 2,411.7 2,492.1
 OTHER ASSETS 387.3 361.0
 $5,484.6 $5,391.9
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Short-term borrowings $ 404.2 $ 350.7
 Current maturity of long-term debt 59.6 104.6
 Accounts payable 331.2 320.9
 Other accrued liabilities 616.4 713.9
 TOTAL CURRENT I?ABILITIES 1,411.4 1,490.1
 LONG-TERM DEBT 2,348.4 2,108.5
 DEFERRED INCOME TAXES 45.3 42.3
 POSTRETIREMENT BENEFITS 299.0 297.8
 OTHER LONG-TERM LIABILITIES 315.5 379.2
 STOCKHOLDERS' EQUITY 1,065.0 1,074.0
 Total $5,484.6 $5,391.9
 /delval/
 -0- 10/25/93
 /CONTACT: Barbara B. Lucas, v.p.-public affairs, 410-716-2980, or Michael J. Allan, director-investor relations, 410-716-3979, both of Black & Decker/
 (BDK)


CO: Black & Decker Corporation ST: Maryland IN: HOU SU: ERN

JM -- PH002 -- 6131 10/25/93 08:38 EDT
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Date:Oct 25, 1993
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