KASLER CORP. ANNOUNCES SECOND QUARTER RESULTS
KASLER CORP. ANNOUNCES SECOND QUARTER RESULTS SAN BERNARDINO, Calif., June 4 /PRNewswire/ -- Kasler Corp.
(NYSE: KAS), a leader in the highway/heavy construction industry, today announced operating results for the second quarter and the six months ended April 30, 1992.
For the second quarter, net earnings increased to $1,531,000, or 15 cents per share, on revenues of $38,174,000 vs. net earnings of $1,334,000, or 14 cents per share, on revenues of $51,606,000 for the like period last year. For the first half of fiscal 1992, net earnings rose to $3,097,000, or 31 cents per share, on revenues of $78,180,000 compared to net earnings of $2,387,000, or 27 cents per share, on revenues of $93,814,000 for the same period in fiscal 1991. In reviewing the results for the second quarter and the first six months of fiscal 1992, J.L. Feller, chairman and chief executive officer, attributed the company's improved earnings to increased operating profits resulting from backlog accumulated over the past three years. Due to the company's current financial strength, it is positioned to take full advantage of the opportunities that are materializing in the rebuilding of the nation's infrastructure. The company's backlog stood at $186 million at April 30, 1992, compared to $240 million at April 30, 1991. Kasler Corp. is a general contractor engaged in the construction of highways, bridges and other public works projects, including airfields, rapid transit and water distribution facilities. The figures are as follows: KASLER CORP. Summary of Results of Operations (Unaudited) Period Ending April 30, 1992 April 30, 1991 Second Quarter Revenues $38,174,000 $51,606,000 Net earnings $1,531,000 $1,334,000 Earnings per share $.15 $.14 Average shares outstanding 10,015,411 9,351,744 First Half Revenues $78,180,000 $93,814,000 Net earnings $3,097,000 $2,387,000 Earnings per share $.31 $.27 Average shares outstanding 10,004,174 8,713,397 -0- 6/4/92 /CONTACT: Jack Feller or John Cash of Kasler, 714-884-4811; or Michael Porter of Porter LeVay & Rose, 212-564-4700, for Kasler/ (KAS) CO: Kasler Corp. ST: California IN: CST SU: ERN
AL -- LA006 -- 6907 06/04/92 09:15 EDT
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|Date:||Jun 4, 1992|
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