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PITTWAY'S THIRD QUARTER INCOME FROM CONTINUING OPERATIONS UP 44 PERCENT ON 15 PERCENT SALES INCREASE

 CHICAGO, Nov. 2 /PRNewswire/ -- Pittway Corporation (AMEX) sales from continuing operations for the three months ended Sept. 30, 1993 increased 15 percent to $165,296,000 as compared to $143,418,000 for the third quarter in 1992. Income from continuing operations for the quarter increased 44 percent to $5,159,000 ($.37 per share) from $3,574,000 ($.26 per share) a year ago.
 For the first nine months of 1993, sales from continuing operations increased 14 percent to $475,487,000 from $416,511,000. Income from continuing operations increased 81 percent to $14,805,000 ($1.06 per share) from $8,189,000 ($.59 per share) a year ago.
 Net income for the third quarter and year to date is not comparable with amounts reported last year for a number of reasons. First, net income from First Alert/BRK and Barr, both sold last year, and Seaquist, spun out to stockholders in April of this year, is not included after the dates of disposition. Second, a one-time after tax gain of $17.7 million ($1.28 per share), related to the sale of First Alert/BRK and Barr, was taken in 1992's third quarter. Finally, this year's nine month net income figure includes first quarter credits for accounting changes of $1.5 million for continuing operations and $3.1 million related to AptarGroup. As a result of these three factors, net income for the third quarter decreased to $5,159,000 ($.37 per share) from $24,653,000 ($1.78 per share) last year. Net income for the first nine months decreased to $27,066,000 ($1.94 per share) from $40,915,000 ($2.95 per share) in 1992.
 The announcement was made today by Neison Harris, chairman, and King Harris, president, of the diversified company based in Chicago.
 Commenting on third quarter results from continuing operations, King Harris said, ``Sales and profits in our alarm businesses were significantly ahead of last year.
 ''The Ademco Security Group had its strongest quarter of the year as all its major subdivisions posted higher sales and profits. Ademco Distribution (ADI) continued to pick up market share in what has been a sluggish year for the burglar alarm business. In a recent dealer survey conducted by Security Distribution & Marketing magazine, ADI was identified as the preferred distributor by 40 percent of the respondents. Its nearest competitor had a 12 percent preference rating. In the same dealer survey Ademco wired, wireless and wired/wireless controls were most preferred. This is the first time in many years that Ademco has been voted #1 in all three control categories and is indicative of the major gains in market share that Ademco's VISTA line of controls have made in the last three years.
 ``The Pittway Systems Techonolgy Group had another solid quarter, paced by excellent operating results at Notifier/Fire-Lite and System Sensor. The Group also moved ahead on a number of projects which should favorably impact sales in 1994. Notifier/Fire-Lite made progress strengthening its European business and completed a 60,000 square foot expansion of its Northford, Conn. factory. System Sensor prepared to launch two important new product lines, low profile smoke detectors for general applications and sounder/strobes which meet the demanding requirements of the Americans with Disabilities Act. It also finished expanding its factory in Trieste, Italy. MicroLite, the Group's lighting controls company, added key modules to its product line and substantially increased its bid activity. The Group also completed the acquisition of Xetron, an access controls manufacturer in Devine, Texas. Xetron's products add an important dimension to Pittway's overall ability to provide integrated control systems for commercial and industrial premises.
 ``Penton's sales and operating profits remained flat compared with a year ago, reflecting the continuing low level of activity in the business publishing industry. Progress, though, was made toward strengthening the company for the future. In October two small acquisitions were made. The Office was purchased and will be combined with Modern Office Technology. The new combined magazine will be the clearcut leader in its market. Heat Treating was also acquired and will become a quarterly magazine in Penton's Manufacturing Group.''
 Pittway is a manufacturer and distributor of professional burglar and fire alarm equipment; a publisher of trade magazines and directories; and a participant in joint venture real estate developments.
 PITTWAY CORPORATION AND SUBSIDIARIES
 SUMMARY OF CONSOLIDATED INCOME
 (Dollars in Thousands, Except per share data)
 Three Months Ended Nine months ended
 Sept. 30, Sept. 30,
 1993 1992(a) 1993 1992(a)
 CONTINUING OPERATIONS -
 Net sales $165,296 $143,418 $475,487 $416,511
 Operating income $8,509 $6,016 $23,698 $15,735
 Income from Continuing
 operations before income
 taxes $8,870 $6,120 $25,045 $14,845
 Provision for income taxes 3,711 2,546 10,240 6,656
 Income from continuing ----- ----- ------ -----
 operations 5,159 3,574 14,805 8,189
 Income from discontinued
 operations, including
 cumulative effect of change
 in accounting for income
 taxes in 1993 21,079 10,726 32,726
 Cumulative effect of changes
 in accounting for income
 taxes and postretirement
 benefits 1,535
 ----- ------ ------ ------
 NET INCOME $5,159 $24,653 $27,066 $40,915
 ===== ====== ====== ======
 NET INCOME PER SHARE OF
 COMMON AND CLASS A STOCK-
 Income from continuing
 operations $.37 $.26 $1.06 $.59
 Income from discontinued
 operations 1.52 .77 2.36
 Cumulative effect of changes
 in accouting for income taxes
 and postretirement benefits .11
 --- ---- ---- ----
 Net income $.37 $1.78 $1.94 $2.95
 === ==== ==== ====
 AVERAGE NUMBER OF SHARES
 OUTSTANDING (IN THOUSANDS) 13,941 13,854 13,941 13,850 -------------------------
 (a) restated for discontinued operations
 -0- 11/2/93
 /CONTACT: Sandra Lewis, Edelman Worldwide, 312-280-7000, or Edward J. Schwartz, Pittway Corporation, 312-831-1070/
 (PRY)


CO: Pittway Corporation ST: Illinois IN: SU: ERN

DH -- NY017 -- 9494 11/02/93 08:46 EST
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Date:Nov 2, 1993
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