Printer Friendly

DEFIANCE, INC. NOTES CONTINUED IMPROVEMENT IN SALES AND EARNINGS

 CLEVELAND, Aug. 9 /PRNewswire/ -- Defiance, Inc. (NASDAQ-NMS: DEFI) announced today that continued improvement is expected in sales and earnings in its fourth fiscal quarter ended June 30, 1993.
 Jerry A. Cooper, president and CEO, noted, "We continued to experience growing demand for automotive and transportation related products and services in the fourth quarter, which should bring estimated sales for the quarter to $23,000,000 and for the fiscal year to $79,000,000, 14 percent higher than last year. Many of the factors that contributed to strong third quarter results continued through the fourth quarter, including strong engine build rates at auto and diesel customers, increased testing support for Big Three customers, and a higher level of tooling and prototyping activity. Lower interest rates and cost reduction programs also enhanced earnings. While we await the final audited results, we estimate earnings for the fourth quarter to be about $0.22 per share, which would bring earnings for the fiscal year to $0.54 per share, as compared to $0.15 per share for the last fiscal year."
 Defiance is a leading integrated supplier of products and engineering/design services to the O.E.M. manufacturers in the transportation industry, with headquarters in Cleveland, Ohio.
 -0- 8/9/92
 /CONTACT: Stanley L. Ulchaker or Patrick Gallagher of Edward Howard & Co., 216-781-2400, for Defiance, Inc./
 (DEFI)


CO: Definance, Inc. ST: Ohio IN: AUT SU: ERP

KL -- CL016 -- 0890 08/09/93 16:25 EDT
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:Aug 9, 1993
Words:243
Previous Article:TEN STORES IN KROGER DIVISION STRUCK
Next Article:FANNIE MAE REPORTS POSTED YIELDS
Topics:

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