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MILACRON RETURNS TO PROFITABILITY IN FOURTH QUARTER -- LOSS FOR FISCAL 1991 RESULTS FROM THIRD-QUARTER CHARGE

 MILACRON RETURNS TO PROFITABILITY IN FOURTH QUARTER --
 LOSS FOR FISCAL 1991 RESULTS FROM THIRD-QUARTER CHARGE
 CINCINNATI, Feb. 11 /PRNewswire/ -- Cincinnati Milacron Inc. (NYSE: CMZ) said today that it returned to profitability in the fourth quarter of 1991 but, as expected, reported a net loss for the year, due in great part to special charges taken in the third quarter.
 In the fourth quarter, the company earned $4.0 million ($.15 per share) compared to a net loss of $31.5 million ($1.15 per share) a year ago. Sales in the quarter were $202 million vs. sales of $215 million in the year-ago quarter.
 For the year 1991, Milacron's net loss was $100.2 million ($3.67 per share) on sales of $754 million, compared to a net loss of $24.3 million ($.95 per share) on sales of $805 million in 1990. The 1991 net loss included non-recurring charges of $90.0 million to relocate certain machine tool product lines and to write down the value of the company's measurement equipment subsidiary for its eventual sale. The net loss in 1990 included special charges of $31.1 million for product discontinuance and the reorganization of certain operations.
 "We're pleased to be back in the black in the fourth quarter," said Daniel J. Meyer, chairman and chief executive officer. "Our cost- reduction and reorganization efforts, together with the hard work and enthusiasm of our people, are beginning to show significant benefits," he said.
 New Orders and Backlog
 Milacron reported new orders of $166 million for the quarter and $770 million for the year, compared to $171 million and $759 million in 1990. At the end of 1991, the backlog stood at $277 million -- up from $269 million a year ago but down from $314 million at the end of the previous quarter.
 Operations
 "We're right on target with the planned product introductions from our Wolfpack redesign program," said Raymond E. Ross, president and chief operating officer. "This is true not only for new machine tools but also for new designs of plastics processing equipment and new industrial consumable products as well. Each new product in our line makes us more globally competitive," Ross added, "and we plan to introduce 14 more new Wolfpack products in 1992."
 Outlook
 "We expect 1992 to be a profitable year for Cincinnati Milacron," C.E.O. Meyer predicted. "While we are experiencing a slow first quarter, we see a number of factors working in our favor that point to improved results as the year progresses. Some of these factors are our lower cost structure, which will allow us to remain profitable in soft markets; a steady stream of new products, which are more competitive and have better margins; and our sizeable backlog for advanced aerospace systems. Of course, any pickup in the economy later in the year would help us considerably," he concluded.
 Annual Meeting Date Set
 Milacron announced that Feb. 28, 1992, is the record date for the annual meeting of shareholders to be held at company headquarters in Cincinnati on April 28, 1992.
 CINCINNATI MILACRON INC.
 4th Quarter -- 12-Week Period Ended
 12/28/91 12/29/90(A)
 Sales $201,873,000 $214,729,000
 Earnings (loss) from
 continuing operations $4,020,000 ($24,127,000) (B)
 Per share $.15 ($.88)
 Loss from discontinued
 operations ($7,326,000) (C)
 Per share ($.27)
 Net earnings (loss) $4,020,000 ($31,453,000)
 Per share $.15 ($1.15)
 Weighted average common
 shares outstanding 27,370,000 27,371,000
 Fiscal Year -- 52-Week Period Ended
 12/28/91 12/29/90(A)
 Sales $754,028,000 $805,234,000
 Loss from continuing
 operations ($83,088,000) (D) ($13,587,000) (B)
 Per share ($3.04) ($.54)
 Loss from discontinued
 operations ($17,117,000) (E) ($10,701,000) (C)
 Per share ($.63) ($.41)
 Net loss ($100,205,000) ($24,288,000)
 Per share ($3.67) ($.95)
 Weighted average common
 shares outstanding 27,361,000 25,901,000
 (A) -- All 1990 results have been restated to reflect the discontinuance of the company's measurement and inspection equipment subsidiary, LK Tool.
 (B) -- Includes $24,913,000 ($.97 per share for 1990 and $.90 per share for the fourth quarter) for product discontinuance and reorganization of grinding machine and other machine tool operations.
 (C) -- Includes $6,200,000 ($.24 per share for 1990 and $.23 per share for the fourth quarter) for the reorganization of LK Tool.
 (D) -- Includes a $75,100,000 ($2.74 per share) non-recurring charge for plant closing and relocation of manufacturing operations and a $4,000,000 ($.15 per share) tax provision on a withdrawal from British pension fund.
 (E) -- Includes $14,900,000 ($.54 per share) for revaluation for sale of the company's measurement and inspection equipment subsidiary, LK Tool.
 -0- 2/11/92
 /CONTACT: Albert Beaupre of Milacron, 513-841-7241/
 (CMZ) CO: Cincinnati Milacron Inc. ST: Ohio IN: MAC SU: ERN


GK -- NY044 -- 8808 02/11/92 12:43 EST
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