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HOLNAM INC. REPORTS SECOND-QUARTER RESULTS

 HOLNAM INC. REPORTS SECOND-QUARTER RESULTS
 DUNDEE, Mich., Aug. 13 /PRNewswire/ -- Holnam Inc. (NYSE: HLN) today


reported consolidated revenues of $263.5 million and net income of $.1 million for the second quarter ended June 30, 1992, compared with revenues of $268.6 million and a net loss of $3.6 million in the second quarter of 1991. The company reported a year-to-date consolidated net loss of $26.2 million on revenues of $401.9 million, as compared to a net loss of $29.0 million on revenues of $403.9 million for the comparable period in 1991.
 Holnam Operations' contribution to the second-quarter net income and year-to-date net loss was $2.3 million and $16.2 million, respectively, as compared to losses of $3.8 million and $23.0 million for the comparable periods in 1991. St. Lawrence Cement, Inc.'s contribution to the second-quarter and year-to-date net operating results was losses of $2.2 million and $10.0 million, respectively, as compared to $.2 million net income and $6.0 million net loss for the comparable periods in 1991. St. Lawrence is 59 percent owned by Holnam and operates principally in eastern Canada and the northeastern United States, two areas that continue to be impacted by the recession.
 The decreases in second-quarter and year-to-date consolidated revenues of $5.1 million and $2.0 million, as compared to the same periods in 1991, were due principally to cement and concrete sales volume and price decreases in the markets served by St. Lawrence, and price decreases (more than offset by volume increases) in the majority of Holnam Operations' sales regions.
 Holnam Operations' cement shipments for the second-quarter and year- to-date were 2.8 million and 4.5 million tons, respectively, as compared to 2.5 million and 3.8 million tons for the comparable periods in 1991. Higher sales volume was partially offset by price decreases in most sales regions, and averaged an overall delivered price decline of 2 percent. This resulted in second-quarter and year-to-date net sales of $154.1 million and $246.1 million, respectively, as compared to $144.6 million and $226.6 million for the comparable periods in 1991.
 St. Lawrence continues to be affected by the recession in the eastern Canada and northeastern United States markets which it serves. Year-to-date cement and concrete shipments have declined 27 percent and 13 percent, respectively, relative to 1991 levels. In addition, there has been a minor price deterioration in cement markets when contrasted with comparable periods in 1991. As a result, second-quarter and year- to-date net sales of $109.4 million and $155.8 million, respectively, have declined substantially from comparable 1991 net sales of $124.0 million and $177.3 million, respectively.
 Marc R. von Wyss, Holnam president and chief executive officer, said that "despite our reported losses, I remain confident about the overall direction of our company. Demand in many of our markets is moving up from last year's levels and our various cost containment efforts throughout the company are having a clear impact. Prices, however, will have to rise to ensure reasonable levels of profitability for Holnam, as well as others in our industry, and it will be important for Canada to join in the emerging recovery."
 Holnam Inc. is a leading producer of cement in North America. It is a subsidiary of Holderbank Financiere Glaris Ltd., of Switzerland, one of the world's largest manufacturers of cement and allied construction materials.
 HOLNAM INC.
 Condensed Consolidated Statements of Operations (Unaudited)
 (In thousands, except per share amounts)
 Second Quarter
 For the period ended June 30, 1992 1991
 Sales $263,507 $268,578
 Cost of sales 226,880 230,354
 Selling and administrative expenses 27,426 28,550
 Income (loss) from operations 9,201 9,674
 Interest expense, net 13,465 14,309
 Other income (2,573) (1,652)
 Loss before income taxes and minority
 equity in net income (loss) (1,691) (2,983)
 Income tax provision (credit) (276) 251
 Minority equity in net income (loss) (1,493) 401
 Net income (loss) $ 78 $ (3,635)
 Per common share $ .00 $ (.03)
 Weighted average common shares outstanding 134,851 134,763
 Six Months
 For the period ended June 30, 1992 1991
 Sales $401,868 $403,855
 Cost of sales 361,993 361,002
 Selling and administrative expenses 54,791 57,418
 Income (loss) from operations (14,916) (14,565)
 Interest expense, net 26,933 28,545
 Other income (2,508) (1,797)
 Loss before income taxes and minority
 equity in net income (loss) (39,341) (41,313)
 Income tax provision (credit) (6,365) (8,588)
 Minority equity in net income (loss) (6,818) (3,681)
 Net income (loss) $(26,158) $(29,044)
 Per common share $(.19) $(.22)
 Weighted average common shares outstanding 134,850 134,763
 NOTE: The cement business is highly seasonal; consequently, results for interim periods should not be considered representative of the expected results for the full year.
 -0- 8/13/92
 /CONTACT: Thomas A. Chizmadia, vice president of corporate communications of Holnam, 313-529-4306, or Kathy B. Liebmann of Gavin Anderson & Co., 212-921-1060, for Holnam/
 (HLN) CO: Holnam Inc. ST: Michigan IN: SU: ERN


TM -- NY081 -- 9836 08/13/92 16:45 EDT
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