Printer Friendly

ROMAN CORPORATION REPORTS NINE-MONTH EARNINGS FROM CONTINUING OPERATIONS OF $3.3 MILLION

              ROMAN CORPORATION REPORTS NINE-MONTH EARNINGS
               FROM CONTINUING OPERATIONS OF $3.3 MILLION
    TORONTO, Nov. 5 /PRNewswire/ -- Roman Corporation Limited reached another milestone on the road to sustained profitability with earnings from continuing operations of $3,335,000, or $0.22 per common share, for the nine months ended Sept. 30, 1991.
    This compares with earnings from continuing operations of $720,000, or $0.07 per common share for the corresponding 1990 period.
    Revenues were $30,730,000 and $29,989,000, respectively.
    A third-quarter gain of $585,000 from discontinued operations brought net earnings for the first nine months of 1991 to $3,920,000, or $0.27 per common share. A loss from discontinued operations of $98,026,000 resulted in a net loss of $97,306,000, or $9.82 per common share, for the 1990 period.
    Helen Roman-Barber, Roman Corporation's chairman and chief executive officer, said, "Roman Corporation's rising earnings are due largely to Strathcona Paper Company, our operating division, which continues to perform well, even in today's adverse economic conditions."
    Strathcona is a leading Canadian producer of environmentally friendly recycled and recyclable clay-coated boxboard, which is used primarily as packaging for consumer goods.
    For the third quarter of 1991, Roman Corporation's earnings from continuing operations were $548,000, or $0.02 per common share, and net earnings were $1,133,000, or $0.07 per common share, compared with earnings from continuing operations of $296,000, or $0.03 per common share, and a net loss of $48,376,000, or $4.88 per common share, for the third quarter of 1990. Revenues were $9,125,000 and $9,797,000, respectively.
    All 1991 results per common share were calculated after provision for preferred share dividends. No preferred shares were outstanding during the first nine months of 1990.
                       ROMAN CORPORATION LIMITED
                         Consolidated Earnings
     Nine months ended Sept. 30              1991              1990
    Revenue                              $30,730,000       $29,989,000
    Earnings before income taxes and
      discontinued operations              3,920,000         1,358,000
    Provision for income taxes               585,000           638,000
    Net earnings from continuing
      operations                           3,335,000           720,000
    Gain (loss) from discontinued
      operations                             585,000       (98,026,000)
    Net earnings (loss) for
      the period                           3,920,000       (97,306,000)
    Earnings per common share from
      continuing operations                    $0.22             $0.07
    Earnings (loss) per common share
      for the period                           $0.27            $(9.82)
    -0-                   11/5/91
    /CONTACT:  Ed Shiller, 416-496-2243 or 416-971-3330, for Roman Corporation/ CO:  Roman Corporation Limited ST:  Ontario IN:  MNG SU:  ERN CK -- NY053 -- 1271 11/05/91 13:04 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 5, 1991
Words:429
Previous Article:COMPAQ'S PFEIFFER ANNOUNCES MANAGEMENT TEAM, OUTLINES NEW BUSINESS STRATEGY
Next Article:PIPER JAFFRAY REPORTS RECORD REVENUES FOR THIRD CONSECUTIVE YEAR


Related Articles
MARKEL CORPORATION ANNOUNCES EARNINGS
DURHAM CORPORATION ANNOUNCES EARNINGS RESULTS
CENTEX REPORTS THIRD QUARTER AND NINE MONTHS RESULTS
ONEX CORPORATION SEPTEMBER 30, 1992 RESULTS
MAVERICK TUBE CORPORATION EARNINGS IMPROVE DUE TO SALES INCREASE
KEMPER CORPORATION REPORTS 1993 THIRD-QUARTER OPERATING EARNINGS FROM CONTINUING OPERATIONS OF $32.8 MILLION
Andrew Corporation Reports Third Quarter Results
Valhi Reports Third Quarter Results.
Energizer Holdings, Inc. Announces Third Quarter Earnings.
Dover Reports 16% EPS Improvement in Third Quarter Results.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters