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STANT CORPORATION ANNOUNCES SECOND QUARTER EARNINGS

 RICHMOND, Ind., Aug. 11 /PRNewswire/ -- Stant Corporation (NASDAQ: STNT) reported that net sales for the three months ended June 30, 1993 were $61.4 million, a 5.9 percent increase from the $57.9 million for the same period in 1992. Net income rose 4.7 percent to $1.8 million or 13 cents per share for the three months ended June 30, 1993 compared with $1.7 million or 12 cents per share for the same period in 1992. Net income for the three months ended June 30, 1993 includes a non-recurring compensation charge of $1.2 million ($.8 million after tax) or $0.07 per share. Net income before the impact of the non-recurring charge rose 47.8 percent to $2.6 million or 20 cents per share for the three months ended June 30, 1993 compared with $1.7 million or 12 cents per share for the same period in 1992. The improved earnings for the three months ended June 30, 1993 resulted from increased sales, improved operating performance and reduced interest and tax expense.
 Net sales for the six months ended June 30, 1993, were $121.2 million, a 7.2 percent increase from the $113.0 million for the same period in 1992. Income before cumulative effect of accounting changes rose 70.3 percent to $4.2 million or 30 cents per share for the six months ended June 30, 1993 compared with $2.5 million or 14 cents per share for the same period in 1992. Because of the impact of the cumulative effect of accounting changes, a net loss of $2.9 million or 36 cents per share was reported for the six months ended June 30, 1993 compared with net income of $2.5 million or 14 cents per share for the same period in 1992. Net income for the six months ended June 30, 1993 includes a non-recurring compensation expense charge of $1.2 million ($.8 million after tax) or $0.07 per share. Net income before the impact of the non-recurring charge and cumulative effect adjustments rose 101.0 percent to $5.0 million or 37 cents per share for the six months ended June 30, 1993 compared with $2.5 million or 14 cents per share for the same period in 1992. The improved earnings for the six months ended June 30, 1993 resulted from increased sales, improved operating performance and reduced interest and tax expense.
 For the three months ended June 30, 1993, aftermarket sales were up 7.5 percent as caps, clamps, tools and most other product showed significant growth. OEM sales were up 4.2 percent with cap sales growing 13 percent and thermostat and clamp sales equal to the prior year. Industrial sales were up 2.7 percent. Net sales of caps and clamps increased approximately 6 percent in the 1993 period compared to the 1992 period due to a 13 percent unit increase in OE cap sales and a 3 percent increase in aftermarket sales for the same products. Thermostat sales in both the aftermarket and OEM markets were approximately equal to the 1992 period. Tool sales increased 27.0 percent, approximately half of which was due to the acquisition of the KP Tool business late in 1992 while the remainder represented increases in tool sales to retail customers.
 Stant Corporation completed its initial public offering of 6.5 million shares of its common stock on July 21, 1993. The shares of the company are quoted on the NASDAQ National Market System under the symbol STNT.
 Stant Corporation, headquartered in Richmond, Ind., is a major manufacturer of fuel tank caps, radiator caps, engine thermostats and clamps. The company is also a leading manufacturer of a variety of other automotive products, including grease guns, specialty automotive tools, tire accessories, automotive fittings, windshield wipers, power steering hoses and bellows.
 STANT CORPORATION AND SUBSIDIARIES
 FINANCIAL HIGHLIGHTS
 Three Months Ended June 30 (Unaudited)
 ($ in Thousands, Except Per Share Data)
 Percent
 1993 1992 Change
 Net Sales $61,358 $57,914 5.9
 Stock Option Related
 Compensation Expense $ 1,243 --- ---
 Income From Operations $ 5,403 $ 5,885 (8.2)
 Net Income $ 1,836 $ 1,754 4.7
 Net Income Before Stock Option
 Related Compensation Expense $ 2,592 $ 1,754 47.8
 Pro Forma per Share of Common Stock:
 Net Income $ 0.13 $ 0.12 8.3
 Net Income Before Stock Option
 Related Compensation Expense $ 0.20 $ 0.12 66.7
 Pro Forma Average Common Stock and
 Equivalents Outstanding 10,824 10,313 ---
 FINANCIAL HIGHLIGHTS
 Six Months Ended June 30 (Unaudited)
 ($ in Thousands, Except Per Share Data)
 Percent
 1993 1992 Change
 Net Sales $121,159 $112,997 7.2
 Stock Option Related
 Compensation Expense $ 1,243 --- ---
 Income From Operations $ 11,832 $ 9,736 21.5
 Income Before Cumulative Effect
 of Accounting Changes $ 4,198 $ 2,465 70.3
 Cumulative Effect of
 Accounting Changes $ (7,105) --- ---
 Net Income (Loss) $ (2,907) $ 2,465 ---
 Net Income before Cumulative Effect
 of Accounting Changes and Stock
 Option Related Compensation
 Expense $ 4,954 $ 2,465 101.0
 Pro Forma Per Share of Common Stock:
 Income Before Cumulative Effect
 of Accounting Changes $ 0.30 $ 0.14 114.3
 Cumulative Effect of
 Accounting Changes $ (0.66) --- ---
 Net Income (Loss) $ (0.36) $ 0.14 ---
 Net Income before Cumulative Effect
 of Accounting Changes and Stock
 Option Related Compensation
 Expense $ 0.37 $ 0.14 164.3
 Pro Forma Average Common Stock
 and Equivalents Outstanding 10,824 10,313 ---
 -0- 8/11/93
 /CONTACT: W. Thomas Margetts of Stant Corporation, 317-962-6655/
 (STNT)


CO: Stant Corporation ST: Indiana IN: AUT SU: ERN

BM -- CL015 -- 1726 08/11/93 13:39 EDT
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Date:Aug 11, 1993
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