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 WAUKESHA, Wis., Nov. 1 /PRNewswire/ -- Hein-Werner Corp. (AMEX: HNW) today reported results for the third quarter ended Oct. 2, 1993.
 Net sales were $13.6 million, compared to $14.8 million for the third quarter of 1992. The company reported a net loss of $760,000, or $.34 per share, compared to a net loss from continuing operations of $998,000, or $.44 per share in the year earlier period.
 For the nine months ended Oct. 2, 1993, net sales were $42.2 million, compared to $44.9 million in the year earlier period. The company reported a net loss for the nine months of $1.7 million, or $.74 per share, compared to a net loss from continuing operations of $1.3 million, or $.59 per share.
 Joseph L. Dindorf, president and chief executive officer, said, "Overall, we saw some encouraging signs in the third quarter. Our North American sales increased 13 percent over the prior period which reflects an improvement in sales of Hein-Werner's automotive segment and continued strength in our fluid power business. On the other hand, foreign results, which normally are soft during this period due to summer vacation plant shutdowns, were affected by the continuation of the recession in both Europe and the Far East."
 Dindorf continued, "Foreign markets, however, are starting to show signs that better business conditions are ahead. The planned fourth quarter shipment of $900,000 of engine rebuilding equipment to the People's Republic of China and major selling opportunities at trade shows throughout the world are positive signs that the worst of the economic cycle may be behind us."
 Dindorf concluded, "We have introduced a number of new products in our key business segments that represent technological innovation and that are patent protected. As economic recovery continues and buyer confidence grows, we expect Hein-Werner's financial results to improve also."
 Hein-Werner Corp. is a leading worldwide manufacturer and marketer of collision repair equipment, engine rebuilding equipment and fluid power equipment. The company has manufacturing operations and sales offices in the United States and Europe with distribution channels throughout the rest of the world.
 Consolidated Statements Of Operations
 (Unaudited, in thousands, except per share amounts)
 Three Months Ended Nine Months Ended
 10/2/93 9/26/92 10/2/93 9/26/92
 Net Sales $13,596 $14,754 $42,163 $44,937
 Cost of sales 9,135 9,610 27,210 28,546
 Gross Profit 4,461 5,144 14,953 16,391
 Selling, engineering
 and administrative
 expenses 4,878 4,680 15,180 15,122
 Operating Profit (417) 464 (227) 1,269
 Interest expense, net 426 569 1,283 1,576
 Other (income) expense,
 net (108) 647 (47) 578
 Earnings (loss) from
 continuing operations
 before income taxes $(735) $(752) $(1,463) $(885)
 Income tax (benefit)
 expense 25 246 198 439
 Net earnings (loss)
 from continuing
 operations $(760) $(998) $(1,661) $(1,324)
 Loss from discontinued
 operations, net -- (469) -- (1,159)
 Net earnings (loss) $(760) $(1,467) $(1,661) $(2,483)
 Earnings per common share
 from continuing
 operations $(.34) $(.44) $(.74) $(.59)
 Earnings per share $(.34) $(.65) $(.74) $(1.10)
 Weighted average shares
 outstanding 2,252 2,252 2,252 2,252
 Earnings per share data for 1992 have been restated to give effect to the 5 percent stock dividend paid Jan. 22, 1993.
 -0- 11/1/93
 /CONTACT: Edward F. Duffy, vice president-finance and treasurer of Hein-Werner, 414-542-6611/

CO: Hein-Werner Corp. ST: Wisconsin IN: AUT SU: ERN

WB -- NY082 -- 9320 11/01/93 16:45 EST
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Publication:PR Newswire
Date:Nov 1, 1993

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