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NORD RESOURCES CORPORATION ANNOUNCESFOURTH QUARTER/YEAR END 1992 RESULTS

 DAYTON, Ohio, March 22 /PRNewswire/ -- Nord Resources Corporation (NYSE: NRD) today announced revenues for the year ended Dec. 31, 1992 of $103,114,000, compared to $108,407,000 for 1991. A loss from continuing operations of ($7,182,000), or ($.47) per share, was reported for 1992 compared to a loss of ($6,962,000), or ($.46) per share in 1991. Discontinued operations, related to the company's decision to dispose of its perlite operations, incurred a loss of ($2,900,000), or ($.19) per share in 1992, compared to a loss in 1991 of ($6,584,000), or ($.44) per share. From continuing and discontinued opr?ations, the company realized a loss of ($10,082,000), or ($.66) per share in 1992, before the cumulative effect of a change in accounting principle for Statement of Financial Accounting Standards No. 109 (SFAS 109), compared to a loss in 1991 of ($13,546,000), or ($.90) per share.
 As a result of applying the provisions of SFAS 109 for the year ended Dec. 31, 1992, the loss from continuing operations increased by $1,580,000, or $.10 per share, and the effect of the change in accounting principles increased net earnings per share by $23,480,000, or primary earnings per share of $1.55. Prior years' financial statements have not been restated to apply the provisions of SFAS 109. For 1992, the company realized net earnings of $13,398,000, or primary earnings per share of $.89, compared to a net loss reported in 1991 of ($13,546,000), or ($.90) per share.
 The rutile segment reported operating earnings for the year ended Dec. 31, 1992 of $14,081,000, compared to operating earnings of $11,069,000 in 1991. This increase in operating earnings is due to a reduction in production costs as a result of moving the dredge and related equipment to a new deposit in March 1992. This deposit contains high quality ore and is more easily mined than the previous deposit. Rutile production for 1992 was 149,000 metric tons despite 29 days of downtime incurred due to the equipment move, compared to 155,000 metric tons in 1991. Sales of rutile in 1992 were 153,000 metric tons and in 1991 sales were 148,000 metric tons. A decline in worldwide demand continues to put pressure on prices for rutile.
 On Dec. 29, 1992, the rutile segment completed financing arrangements with a consortium of international development banks for $48 million. Initial funding of $21 million was received by year end. Funding of the balance of approximately $27 million under the development bank loans will take place as required by the rutile subsidiary. These funds will be used for capital improvements including a new power plant.
 The kaolin segment incurred an operating loss for the year ended Dec. 31, 1992 of ($9,378,000) compared to an operating loss of ($8,035,000) in 1991. Operating results for the kaolin segment continue to be negatively impacted by the worldwide recession in the paper industry. However, sales of all Norplex(R) products increased in 1992 to over 12,000 tons from 5,400 tons in 1991. Nord Kaolin recently acquired a substantial trial order from a new customer and continues to expand its existing customer base for Norplex(R).
 On March 11, 1993, a 20 percent interest in Nord Kaolin was purchased by Kemira Oy of Helsinki, Finland for $10 million in cash and materials. This agreement grants Kemira the option to purchase an additional 31 percent of Nord Kaolin for a minimum of $23 million up to $36 million over a four year period.
 FOURTH QUARTER 1992
 For the fourth quarter of 1992, revenues were $28,173,000 compared to 1991 fourth quarter revenues of $27,201,000. Including additional tax expense of $1,016,000 due to the adoption of SFAS 109, a loss was reported from continuing operations of ($638,000), or ($.04) per share, for the 1992 fourth quarter compared to earnings of $612,000, or $.04 per share, in the fourth quarter of 1991. Discontinued operations incurred a loss of ($1,400,000), or ($.09) per share, in fourth quarter 1992 compared to a loss of ($4,954,000), or ($.33) per share in the same period of 1991.
 The 1992 fourth quarter operating results improved compared to third quarter 1992 results primarily due to increased sales and better profit margins at the rutile segment.
 Nord Resources Corporation is a major producer of rutile (a premium titanium dioxide mineral) and kaolin, and holds a 42 percent interest in Nord Pacific Limited (NASDAQ: NORPF), a company engaged in the exploration for and development of precious, strategic and base metals, particularly copper.
 The following summary of operations is stated with both continuing and discontinued operations and with the cumulative effect of a change in an accounting principle (SFAS 109):
 For the Year Ended
 December 31
 1992 1991
 Revenues $103,114,000 $108,407,000
 (Loss) from Continuing
 Operations $ (7,182,000) $ (6,962,000)
 (Loss) from Discontinued
 Operations (2,900,000) (6,584,000)
 (Loss) before Cumulative
 Effect of Change in Accounting
 Principle (10,082,000) (13,546,000)
 Cumulative Effect of Change in
 Accounting Principle 23,480,000 --
 Net Earnings (Loss) $13,398,000 $(13,546,000)
 Earnings (Loss) per Share:
 Primary:
 From Continuing Operations $ (.47) $ (.46)
 From Discontinued Operations $ (.19) $ (.44)
 (Loss) before Cumulative
 Effect of Change in Accounting
 Principle $ (.66) $ (.90)
 Cumulative Effect of Change in
 Accounting Principle 1.55 --
 Net Earnings (Loss) per Share $ .89 $ (.90)
 Average Shares Outstanding 15,152,000 15,126,000
 Fully Diluted:
 From Continuing Operations $ (.31)
 From Discontinued Operations (.16)
 (Loss) before Cumulative Effect
 of Change in Accounting Principle (.47)
 Cumulative Effect of Change in
 Accounting Principle 1.38
 Net Earnings per Share $ .82
 Average Shares Outstanding 18,209,000
 For the Quarter Ended
 December 31
 1992 1991
 Revenues $ 28,173,000 $ 27,201,000
 Earnings (Loss) from Continuing
 Operations $ (638,000) $ 612,000
 (Loss) from Discontinued
 Operations (1,400,000) (4,954,000)
 Net (Loss) $(2,038,000) $ (4,342,000)
 Earnings (Loss) per Share
 From Continuing Operations $ (.04) $ .04
 From Discontinued Operations $ (.09) $ (.33)
 Net (Loss) per Share $ (.13) $ (.29)
 -0- 3/22/93
 /CONTACT: Terence H. Lang, senior vice president of finance, or Susan Shahan, director of shareholder relations, both of Nord Resources Corporation, 513-433-6307/
 (NRD NORPF)


CO: Nord Resources Corporation ST: Ohio IN: MNG SU: ERN

BM -- CL010 -- 8185 03/22/93 11:20 EST
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