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
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 14, 1991|
|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|