Printer Friendly

FRANKLIN ELECTRIC REPORTS RECORD THIRD QUARTER SALES AND INCOME

 FRANKLIN ELECTRIC REPORTS RECORD THIRD QUARTER SALES AND INCOME
 BLUFFTON, Ind., Oct. 8 /PRNewswire/ -- Earnings of Franklin Electric Co. Inc. (NASDAQ: FELE) for the third quarter of 1992 were $4.2 million or $.62 per share, compared to third quarter 1991 earnings of $4.0 million or $.51 per share, William H. Lawson, chairman and chief executive officer, reported today.
 For the first nine months of 1992, earnings were $10.9 million or $1.46 per share compared to $10.3 million or $1.26 per share for the first nine months of 1991.
 Sales for the third quarter of 1992 were $51.4 million compared to $48.4 million for the same period a year ago. For the first nine months of 1992, sales were $149.6 million compared to $141.2 million for the first nine months of 1991.
 Lawson stated, "We are pleased to report record sales and earnings for the third quarter of 1992. Given the continuing economic morass in North America and the general economic turmoil in Europe, these results are a significant achievement by Franklin employees throughout our company and we are appreciative of their extra efforts and dedication. We see little, if any, signs that our markets are strengthening and are therefore dedicated to achieving our growth by continuing to gain market share globally. The recent decline in the U.S. dollar should favorably impact these plans. As we prudently prepare for the new year ahead, we remain tightly focused on relentlessly improving our quality, productivity and new product innovation."
 Franklin Electric is a leading manufacturer of electric motors, including submersible motors, fractional horsepower motors and gearmotors for home, farm, municipal and industrial use.
 FRANKLIN ELECTRIC CO. INC. SUMMARY
 (In thousands except per share amounts)
 THIRD QUARTER ENDED
 SEPT. 26, SEPT. 28, PERCENT CHANGE
 1992 1991
 Net sales $ 51,393 $ 48,356 6
 Income before income taxes
 and extraordinary credit 7,137 6,160
 Income taxes 2,943 2,213
 Extraord. credit-benefit
 of loss carryforward 23 23
 Net income 4,217 3,970 6
 Dividends on preferred stock 153 687
 NET INCOME AVAILABLE TO
 COMMON SHARES $ 4,064 $ 3,283
 Weighted average common shares 6,515 6,422
 Net income per common share $.62 $.51
 THREE QUARTERS ENDED
 SEPT. 26, SEPT. 28, PERCENT CHANGE
 1992 1991
 Net sales $149,589 $ 141,160 6
 Income before income taxes
 and extraordinary credit 17,997 16,039
 Income taxes 7,176 5,867
 Extraord. credit-benefit
 of loss carryforward 120 112
 Net income 10,941 10,284 6
 Dividends on preferred stock 1,440 2,225
 NET INCOME AVAILABLE TO
 COMMON SHARES $ 9,501 $ 8,059
 Weighted average common shares 6,506 6,379
 Net income per common share $1.46 $1.26
 -0- 10/8/92
 /CONTACT: D.W. Pfister of Franklin Electric, 219-824-2900/
 (FELE) CO: Franklin Electric Co. Inc. ST: Indiana IN: UTI SU: ERN


PS -- NY087 -- 8014 10/08/92 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:Oct 8, 1992
Words:489
Previous Article:DCX NAMES OUTSIDE DIRECTOR
Next Article:JIMBO'S JUMBOS, INCORPORATED REPORTS YEAR END RESULTS
Topics:


Related Articles
FRANKLIN ELECTRIC REPORTS SIXTH CONSECUTIVE YEAR OF RECORD EARNINGS AND INCREASED SALES
FRANKLIN ELECTRIC REPORTS RECORD SALES AND EARNINGS FOR THE SECOND QUARTER OF 1993
FRANKLIN ELECTRIC REPORTS RECORD SALES AND EARNINGS FOR THIRD QUARTER OF 1993
FRANKLIN ELECTRIC REPORTS HIGHER SALES AND LOWER EARNINGS FOR THE THIRD QUARTER OF 1994
FRANKLIN ELECTRIC REPORTS ITS NINTH CONSECUTIVE YEAR OF RECORD EARNINGS AND INCREASED SALES
FRANKLIN ELECTRIC REPORTS ITS NINTH CONSECUTIVE YEAR OF RECORD EARNINGS AND INCREASED SALES
FRANKLIN ELECTRIC REPORTS RECORD EARNINGS AND SALES FOR THE FOURTH QUARTER OF 1995
Franklin Electric Reports Record Earnings and Sales for the Third Quarter of 1996
Franklin Electric Reports Record Earnings and Sales for the 1996 Fourth Quarter and Fiscal Year
Franklin Electric Company Reports Record Earnings and Sales for the Third Quarter of 1997

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