Printer Friendly

RTI earnings clarification.

ROCKAWAY, N.J.--(BUSINESS WIRE)--Nov. 16 1994--John Scandalios, Chairman and Chief Executive Officer of RTI Inc. (NASDAQ:RTII) in clarifying his earlier comments which accompanied the announcement of results for the three months and nine months ended Sept. 30, 1994, indicated that third quarter losses were primarily attributable to industry pricing pressures in certain market segments and expenses relating to the enhancement of quality control systems in order to comply with FDA requirements as well as to anticipate new FDA requirements for ISO 9002 registration.

RTI Inc. is a leading provider of gamma sterilization services with three sterilization facilities located in Rockaway and Salem, New Jersey and Haw River, North Carolina.
 RTI Inc. and Subsidiaries
 Consolidated Statement of Operations
 (unaudited)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1994 1993 1994 1993
Revenues $1,040,639 $1,031,337 $ 3,366,905 $3,108,949


Income from
 operations 6,926 118,597 372,727 458,165
Income before taxes (82,383)(a) 117,459 91,672 244,516


on income (loss)

Net income $ (80,743)(a) $117,459 $ 86,282 $ 242,590 (loss) Net income per
 share (loss) $ (.01)(a) $ .02 $ .01 $ .03
Weighted average 8,617,519 7,044,144 8,617,492 7,064,511


number of common shares outstanding

(a) Third quarter losses were primarily attributable to industry pricing pressures in certain market segments and extraordinary expenses relating to the enhancement of quality control systems in order to comply with FDA requirements as well as to anticipate new FDA requirements for ISO 9002 registration.

CONTACT: RTI, Rockaway
 John N. Scandalios, 201/625-8400
 or
 Lobsenz Stevens, New York
 Robert E. Keating, 212/684-6300
COPYRIGHT 1994 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Nov 16, 1994
Words:278
Previous Article:Regions Financial announces dividend.
Next Article:HP Capital Corp. to divest subsidiary; headquarters will remain in San Diego.
Topics:


Related Articles
RTI reports fiscal 1994 results.
EMCARE HOLDINGS INC. ACQUIRES EMERGENCY MEDICINE BILLING COMPANY.
RTI Inc. in agreement to sell assets to SteriGenics International.
RTI Announces Acquisitions.
RTI International Announces First Quarter Results.
'Knowledge is power' in resin buying.
Foundations and research on identifying model responsiveness-to-intervention sites.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters