STEWART & STEVENSON REPORTS SECOND QUARTER REVENUES
STEWART & STEVENSON REPORTS SECOND QUARTER REVENUES HOUSTON, Aug. 20 /PRNewswire/ -- Stewart & Stevenson Services, Inc.
(NASDAQ: SSSS), a leading manufacturer of diesel and gas turbine powered equipment, today announced net earnings of $10,626,000 or $.33 per share on revenues of $199,977,000 for the second quarter ending July 31, 1992. These results compare to income of $8,510,000 or $.28 per share on revenues of $160,125,000 for the same period one year ago. Earnings for the first six months totaled $19,699,000 or $.61 per share on revenues of $381,894,000 compared to revenues of $314,110,000 and net income of $16,307,000 or $.54 per share for the first half of 1991.
Both sales and net profit for the quarter increased approximately 25 percent over the prior year. To date, gas turbine products have been the key contributor to these sales and earnings increases. However, based on scheduled deliveries, the company expects its diesel-driven products will make a meaningful contribution to sales and earnings during the second half of the year. Consolidated operating results for the three and six months ended July 31 were as follows: STEWART & STEVENSON SERVICES, INC. Dollars In Thousands except per share data 1992 1991 Three Months Ended July 31 Sales $199,977 $160,125 Net Earnings 10,626 8,510 Net Earnings per Share .33 .28 Total Shares Outstanding 32,471 29,978 Six Months Ended July 31 Sales $381,894 $314,110 Net Earnings 19,699 16,307 Net Earnings per Share .61 .54 Total Shares Outstanding 32,464 29,952 -0- /CONTACT: David R. Stewart, director, investor relations, Stewart & Stevenson Services, 713-868-7657/ (SSSS) CO: Stewart & Stevenson Services, Inc. ST: Texas IN: SU: ERN
DC -- NY053 -- 1764 08/20/92 14:04 EDT
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|Date:||Aug 20, 1992|
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