MOREHOUSE INDUSTRIES REPORTS EARNINGS
MOREHOUSE INDUSTRIES REPORTS EARNINGS FULLERTON, Calif., June 11 /PRNewswire/ -- Morehouse Industries Inc.
(NASDAQ: MIXS) reported earnings of $178,000, or $0.05 per share, on sales of $1,959,000 for the three months ended May 31, 1992 vs. earnings of $59,000, or $0.01 per share, on sales of $783,000, for the three months ended May 31, 1991. Earnings for the quarter were enhanced by $46,000, or $0.01 per share, in non-recurring insurance settlement proceeds.
For the nine months ended May 31, 1992, Morehouse reported earnings of $402,000, or $0.10 per share, on sales of $5,178,000 vs. earnings of $138,000, or $0.03 per share, on sales of $2,674,000 for the nine months ended May 31, 1991. MOREHOUSE INDUSTRIES INC. Three Months Ended Nine Months Ended May 31, May 31, 1992 1991 1992 1991 Net sales $1,959,000 $783,000 $5,178,000 $2,674,000 Net earnings 178,000 59,000 402,000 138,000 Net earnings/share $0.05 $0.01 $0.10 $0.03 The growth in sales and earnings is substantially all attributable to the acquisition of GST Industries Inc. Morehouse Industries is now actively seeking additional acquisitions to accelerate the company's growth. The company's subsidiary, Morehouse-COWLES Inc., manufactures mixing, dispersing and milling machinery for various process industries, including manufacturers of paint, ink, adhesives, paper coatings and magnetic media. The company's subsidiary, GST Industries Inc., manufactures proprietary water cannons and related fire-fighting equipment for the petro-chemical industry and mining and municipal markets. GST also supplies proprietary assemblies to the aerospace industry. -0- 6/11/92 /CONTACT: Jim Swartwout, president of Morehouse Industries, 714-738-5000/ (MIXS) CO: Morehouse Industries Inc. ST: California IN: SU: ERN
KJ-JL -- LA013 -- 9330 06/11/92 15:03 EDT
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|Date:||Jun 11, 1992|
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