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ONEIDA LTD. THIRD QUARTER EARNINGS IMPROVE SIGNIFICANTLY

 ONEIDA, N.Y., Nov. 23 /PRNewswire/ -- Oneida Ltd. (NYSE: OCQ) today announced substantially increased earnings for the third quarter of 1993, posting net income of $3,530,000 equal to 33 cents per share on sales of $119,816,000 for the three months ended Oct. 30, 1993. In comparison, net income for the same period a year ago totaled $2,203,000 equal to 21 cents per share on sales of $138,840,000. Last year's third quarter included an additional week as part of a 53-week year.
 Oneida's earnings also improved for the first nine months of its fiscal year, with net income of $7,400,000 equal to 71 cents per share on sales of $340,626,000. For the first nine months a year ago, net income before one-time accounting charges was $4,958,000 equal to 48 cents per share on sales of $369,895,000. However, the one-time, non- cash charges -- due to accounting changes for post employment benefits and retirees' health care benefit costs -- resulted in a net loss for the first nine months last year of $32,007,000 equal to a $3.20 per share loss.
 Oneida Ltd. Chairman William D. Matthews said this year's stronger earnings through the third quarter continue to be driven by more efficient operations and improved gross margin percentages. He noted that the company's ongoing reduction of debt levels has sharply cut interest expenses.
 ONEIDA LTD.
 AND CONSOLIDATED SUBSIDIARIES
 SUMMARIZED FINANCIAL INFORMATION
 FOR THE THREE MONTHS ENDED
 Oct. 30, Oct. 31,
 (In thousands except per share amounts) 1993 1992
 Net Sales $119,816 $138,840
 Gross Margin 33,613 34,658
 Selling, General & Administrative Expenses 25,509 28,358
 Income from Operations 8,199 6,431
 Interest Expense 1,802 2,515
 Income Before Income Taxes and Cumulative
 Effect of Accounting Changes 5,983 3,691
 Cumulative Effect of Accounting Changes,
 Net of Income Taxes of $(21,373) --- ---
 Provision (Credit) for Income Taxes 2,453 1,488
 Net Income (Loss) 3,530 2,203
 Earnings Per Share of Common Stock:
 Before Cumulative Effect of Accounting
 Changes .33 .21
 Net Income (Loss) .33 .21
 Weighted Average Number of Common Shares
 Outstanding 10,483 10,111
 FOR THE NINE MONTHS ENDED
 Oct. 30, Oct. 31,
 (In thousands except per share amounts) 1993 1992
 Net Sales $340,626 $369,895
 Gross Margin 93,289 96,310
 Selling, General & Administrative Expenses 74,638 79,954
 Income from Operations 19,056 16,787
 Interest Expense 5,837 7,869
 Income Before Income Taxes and Cumulative
 Effect of Accounting Changes 12,543 8,204
 Cumulative Effect of Accounting Changes,
 Net of Income Taxes of $(21,373) --- (36,964)
 Provision (Credit) for Income Taxes 5,143 3,246
 Net Income (Loss) 7,400 (32,007)
 Earnings Per Share of Common Stock:
 Before Cumulative Effect of Accounting
 Changes .71 .48
 Net Income (Loss) .71 (3.20)
 Weighted Average Number of Common Shares
 Outstanding 10,347 10,027
 Note: The three and nine months ended Oct. 31, 1992, include 14 and 40 weeks of operations, versus 13 and 39 weeks for the same periods ended Oct. 30, 1993.
 This summary is based on unaudited figures.
 -0- 11/23/93
 /CONTACT: David A. Gymburch, corporate public relations, of Oneida Ltd., 315-361-3271/
 (OCQ)


CO: Oheida Ltd. ST: New York IN: HOU SU: ERN

AR-KL -- CL008 -- 7204 11/23/93 10:43 EST
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Date:Nov 23, 1993
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