Printer Friendly

LANCER REPORTS THIRD QUARTER RESULTS

 LANCER REPORTS THIRD QUARTER RESULTS
 SAN ANTONIO, Texas, Nov. 14 /PRNewswire/ -- Lancer Corporation


(AMEX: LANCER), a San Antonio based leading manufacturer of fountain soft drink and other beverage dispensing systems sold worldwide, founded 24 years ago with a current employment of 490 employees, today announced results of operations for the third quarter and nine months ended Sept. 30, 1991.
 Revenues for the nine months ended Sept. 30, 1991 were $27,084,186 compared with $31,494,011 for the previous year's nine month total. Revenues for this year's third quarter amounted to $8,773,403 compared to $10,303,722 generated during last year's third quarter. These decreases reflect an expected downturn in foreign sales due to the completion of a 1990 one-time contract for specialized dispensers, as well as lower domestic sales of citrus dispensers.
 Net earnings for the nine months and quarter ended Sept. 30, 1991 were $725,263 and $233,637, respectively, as compared to $911,915 and $203,699 for the same last year. The decrease in sales volume and higher health benefit costs resulted in the change.
 Net earnings per share for the nine months and third quarter ended Sept. 30, 1991 were $.31 and $.10, respectively compared with $.39 and $.09 for the comparable period in 1990.
 LANCER CORPORATION
 Selected Financial Data
 (In thousands except for earnings per share)
 Periods ended: Three months Nine months
 Sept. 30: 1991 1990 1991 1990
 Revenues $8,773 $10,304 $27,084 $31,494
 Operating income 598 753 1,864 2,814
 Net earnings 234 204 725 912
 Net earnings per
 common share $0.10 $0.09 $0.31 $0.39
 Shares outstanding 2,327 2,327 2,327 2,327
 -0- 11/14/91
 /CONTACT: George F. Schroeder, president of Lancer, 512-344-3071/
 (LANCER) CO: Lancer Corporation ST: Texas IN: SU: ERN TS -- NY052 -- 4409 11/14/91 11:53 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 14, 1991
Words:313
Previous Article:ST. GEORGE METALS ELECTS NEW MEMBERS TO BOARD OF DIRECTORS
Next Article:ENVIRONMENTAL DIAGNOSTICS ANNOUNCES SIGNIFICANTLY IMPROVED OPERATING RESULTS FOR THE THIRD QUARTER, 1991
Topics:


Related Articles
LANCER CORPORATION REPORTS FIRST QUARTER RESULTS
LANCER CORPORATION REPORTS SECOND QUARTER RESULTS
LANCER CORPORATION REPORTS THIRD QUARTER RESULTS
LANCER CORPORATION REPORTS SECOND QUARTER RESULTS
LANCER CORPORATION REPORTS THIRD QUARTER RESULTS
LANCER CORPORATION REPORTS 1994 RESULTS
LANCER CORPORATION REPORTS FIRST QUARTER 1996 RESULTS
LANCER CORPORATION REPORTS RECORD SECOND QUARTER 1996 RESULTS
Lancer Corporation Reports Third Quarter 1996 Results
Lancer Corporation Reports First Quarter 1997 Results

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