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PLM INTERNATIONAL REPORTS SECOND QUARTER RESULTS

 PLM INTERNATIONAL REPORTS SECOND QUARTER RESULTS
 SAN FRANCISCO, Aug. 14 /PRNewswire/ -- San Francisco-based PLM


International Inc. (AMEX: PLM) today reported the results of its operations for the quarter and six months ended June 30, 1992.
 For the quarter, PLM International reported consolidated revenues of $17.3 million, compared to $16.0 million for the same quarter in 1991. Net loss to common shares in the second quarter, after giving effect to $36.6 million of pre-tax, non-cash restructuring adjustments, was $21.3 million or $2.03 per common share, compared to net income of $0.7 million or $0.07 per common share in 1991.
 For the six-month period, consolidated revenues were $34.7 million, compared to $32.8 million for the same period in 1991. Net loss to common shares in the first half of 1992, after non-cash restructuring adjustments, was $24.6 million or $2.34 per common share, compared to net income of $1.2 million or $0.12 per common share in 1991. After giving effect to the first six months financial results PLM International's shareholder equity is $43.0 million.
 Robert N. Tidball, president and chief executive officer, stated, "In 1992 we will put behind us several issues which have hindered the company and turn our focus to the future. For example, this year we have eliminated the disruptions caused by ongoing litigation in settling the action with our former chairman and entering into a contingent settlement in the Daniels class action. Now, in connection with our overall strategic planning process and our current outlook on economic conditions, we have taken a hard look at the company's equipment portfolio and have reassessed our investment in certain equipment for which projected long-term earnings potential has declined.
 "The restructuring adjustments, which total $36.6 million, resulted primarily from re-valuation of older commuter and corporate aircraft and trailers, many of which will be sold, to reflect adjustments to their net realizable value, and to accelerate the recognition of certain capitalized items and other expenses. Proceeds from the asset sales will be used to reduce our senior debt by approximately $30 million. Further, this restructuring has no significant impact on the PLM Equipment Growth Funds, which hold dissimilar equipment, nor the net worth of PLM Financial Services, Inc., the general partner for these funds."
 Tidball added, "As we said early in the year, '1992 will be a year of preparation for longer term growth.' The plan announced today is one of many positive steps which will take us into a profitable future. This restructuring, through the elimination of assets with less attractive potential, will strengthen our financial position by reducing debt and enhancing future income. Additionally, the company has implemented cost reduction measures that will favorably impact overhead and operating expenses. Through these actions we expect the company to be profitable in the second half of 1992. Additionally, we expect continued profitability in 1993."
 The company's lenders have provided appropriate interim waivers and amendments for implementation of the restructuring adjustments and have agreed to enter into negotiations with the intention to amend and restate the company's senior term loan agreement.
 In closing, Tidball stated, "This restructuring streamlines the company from both an operating and a financial point of view. Focusing our operations on areas of proven strength will make the company a more formidable competitor."
 The following table sets forth a summary of selected operating statistics for the quarter and six months ended June 30, 1992 and 1991:
 Selected Operating Statistics(A)
 Three months Six months
 ended June 30, ended June 30,
 1992 1991 1992 1991
 Total Revenues $17,338 $15,964 $34,671 $32,828
 Income (Loss) Before
 Income Taxes (34,824) 2,997 (36,328) 5,953
 Net Income (Loss) (19,552) 2,428 (21,056) 4,731
 Preferred Dividends 1,760 1,760 3,520 3,520
 Net Income (Loss) Available
 for Common Shares (21,312) 668 (24,576) 1,211
 Average Common Shares
 Outstanding(B) 10,497 10,154 10,497 10,154
 Net Income (Loss) per Common
 Share (2.03) 0.07 (2.34) 0.12
 (A) Figures are in thousands, except per share data.
 (B) Included for per common share calculation
 PLM International is a transportation equipment leasing company specializing in the management of equipment on operating leases. The company is also the leading sponsor of syndicated investment programs organized to invest primarily in transportation equipment.
 -0- 8/14/92
 /CONTACT: Valerie Carattini-Cooke of PLM International, 415-905-7227/
 (PLM) CO: PLM International Inc. ST: California IN: TRN SU: ERN


DG -- SF005 -- 0220 08/14/92 17:28 EDT
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Date:Aug 14, 1992
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