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NORD RESOURCES CORPORATION ANNOUNCES SECOND QUARTER 1992 RESULTS

 NORD RESOURCES CORPORATION ANNOUNCES SECOND QUARTER 1992 RESULTS
 DAYTON, Ohio, Aug. 13 /PRNewswire/ -- Nord Resources Corporation (NYSE: NRD) announced today results of operations for the second quarter ended June 30, 1992. A net loss of $3,581,000, or $.24 per share, was incurred in the second quarter of 1992 compared to a net loss of $3,586,000, or $.24 per share, in the second quarter of 1991. Revenues for the second quarter of 1992 were $25,256,000, compared to second quarter 1991 revenues of $25,823,000.
 For the first two quarters of 1992, the company incurred a net loss of $5,806,000, or $.38 per share, on revenues of $45,999,000 compared to a net loss of $5,568,000, or $.37 per share, on revenues of $54,243,000 for the same period of 1991.
 Included in the net loss was a loss from discontinued operations of $556,000 and $1,115,000 in the second quarter and first two quarters of 1991, respectively.
 For the first two quarters of 1992, revenues from the kaolin segment increased to $13,598,000 compared to $12,576,000 for the first two quarters of 1991. Revenues from kaolin for the second quarter of 1992 decreased to $5,999,000 compared to $6,222,000 for the same period in 1991. This first half 1992 increase in revenues is due primarily to an increase in sales of calcined clay products (Norcal) over the first half of 1991. While tons of Nord Kaolin's new line of products sold have increased, prices have declined in the first two quarters of 1992 compared to 1991. Sales are still not at sufficient levels to have a significant impact on operating results.
 There are indications, however, of increasing acceptance of Norplex(R) products in the marketplace as additional trials are being run at major paper companies in the United States and a conversion to a Norplex(R) product by a major customer has occurred recently. A gradual increase in tons of Norplex(R) sold during the second half of 1992 is anticipated.
 While the paper industry remains in recession, Nord Kaolin is striving to position itself for the eventual economic turnaround. As announced at its annual meeting of shareholders on June 3, 1992 in Los Angeles, Nord Resources has entered into a Letter of Intent with the American subsidiary of Kemira Oy of Helsinki, Finland, one of the world's largest chemical companies and titanium dioxide pigment producers, for the sale of an interest in Nord Kaolin. Under the Letter of Intent, Kemira would acquire 20 percent of Nord Kaolin by investing $10 million in Nord Kaolin with an option to purchase an additional 31 percent by 1996. This agreement is expected to close in the second half of 1992 and is subject to approval by the company and Kemira and certain third party lenders.
 The rutile segment revenues for the first two quarters of 1992 were $30,900,000 compared to $38,600,000 in 1991, while revenues for the second quarter of 1992 were $18,600,000 compared to $18,500,000 in 1991. The decline in revenues is due to a decrease in prices for rutile of approximately 15 percent and fewer tons sold during the first half of 1992. Since moving into Lanti, the new high quality ore deposit, in late March 1992, the rutile mining operation has been producing at record levels. As a result of mining in the new ore deposit in 1992, production costs at SRL are expected to be substantially lower in 1992 compared to 1991 levels. Tons of rutile sold are expected to increase in the second half of 1992 compared to the first half, but average sales prices are expected to continue at below 1991 levels.
 In light of recent operating losses and the continuing worldwide economic recession particularly in the paper and paint industries, Nord is continuing cost containment measures in all of its operations and is limiting its capital expenditures. Agreements providing for $48 million of financing have been negotiated with four international development institutions, three of which have already been executed. These are specifically, the International Finance Corporation, a member of the World Bank Group, for $15 million, the Commonwealth Development Bank, an entity of the British government, for $13 million and Deutsche Investitions und Entwicklungsgesellschaft mbH, an entity of the German government for $5 million. The company anticipates signing the fourth agreement this month with the Overseas Private Investment Corporation, an entity of the U.S. government, pursuant to which it will provide guarantees of a loan to SRL of $15 million. The initial funding of the loans is subject to preparation of closing documents and of obtaining required consents from third parties.
 Nord Resources Corporation is a major producer of kaolin and natural rutile (a premium titanium dioxide mineral), and holds a significant interest in Nord Pacific Limited, a company engaged in the exploration for and development of precious, strategic and base metals.
 A summary of the consolidated statement of earnings follows:
 For The Quarter Ended 6/30/92 6/30/91
 Revenues $25,256,000 $25,823,000
 (Loss) from Continuing
 Operations $(3,581,000) $(3,030,000)
 (Loss) from Discontinued
 Operations $ -- $( 556,000)
 Net (Loss) $(3,581,000) $(3,586,000)
 Net (Loss) Per Share:
 From Continuting Operations ($.24) ($.20)
 From Discontinued Operations $ -- ($.04)
 Net (Loss) ($.24) ($.24)
 Avg. shares outstanding 15,120,000 15,122,000
 For The Two Quarters Ended 6/30/92 6/30/91
 Revenues $45,999,000 $54,243,000
 (Loss) from Continuing
 Operations $(5,806,000) $(4,453,000)
 (Loss) from Discontinued
 Operations $ -- $(1,115,000)
 Net (Loss) $(5,806,000) $(5,568,000)
 Net (Loss) Per Share:
 From Continuting Operations ($.38) ($.30)
 From Discontinued Operations $ -- ($.07)
 Net (Loss) ($.38) ($.37)
 Avg. shares outstanding 15,120,000 15,102,000
 -0- 8/13/92
 /CONTACT: Terence H. Lang, senior vice president - finance, or Susan Shahan, director of shareholder relations, both of Nord Resources Corporation, 513-433-6307/
 (NRD) CO: Nord Resources Corporation ST: Ohio IN: MNG SU: ERN


BM -- CL007 -- 9663 08/13/92 13:08 EDT
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Date:Aug 13, 1992
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