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 ATLANTA, Aug. 11 /PRNewswire/ -- Superior TeleTec Inc. (AMEX: STT) today reported its results for the first fiscal quarter of fiscal 1994, ended June 27, 1993.
 Net income was $687,000, or $.08 per share, in the current year quarter, as compared to net income from continuing operations of $1,456,000, or $.17 per share, in the first quarter of last fiscal year. In the prior year's first fiscal quarter, the company had income from discontinued operations of $155,000, or $.02 per share, bringing net income for that period to $1,611,000, or $.19 per share. In the first fiscal quarter of 1994 the company did not record any income or loss from discontinued operations.
 Revenues for the 1994 first fiscal quarter were $29.0 million, as compared to $35.9 million in the same quarter of the previous year. For the trailing twelve months ended June 27, 1993, operating cash flow (operating income plus depreciation and amortization) was approximately $10.2 million.
 The recent results were primarily attributable to reduced demand for copper cable and wire products. Also, the sale of one of its fiber optic cable product lines caused Superior to temporarily close its other fiber optic cable operations in order to consolidate production into its Brownwood, Texas facility, thus reducing revenues.
 James R. Kanely, chairman and chief executive officer of Superior, stated, "In the fiscal 1994 first quarter our base copper cable and wire business experienced a cyclical downturn, along with a weather-related slowdown at one of our major Regional Bell Operating Company customers. We believe that these conditions are only temporary. While revenues also were reduced due to lower copper prices and our consolidation of fiber optic operations and the resulting interruption in production, these factors had no material effect on profitability."
 Mr. Kanely added, "Superior has bids currently outstanding for long term supply agreements representing over $100 million in annual demand, and we are optimistic about our prospects for additional business from these sources."
 Noting that Superior had previously announced the signing of a definitive agreement to merge with and into The Alpine Group (AMGX: AGI), Mr. Kanely commented, "We are proceeding with the filing of preliminary proxy materials and other steps required for the merger and are excited about the opportunity to combine our manufacturing expertise and strong historical cash flow with Alpine's cutting-edge flat panel display technology." The transaction, which is valued at approximately $67 million, was announced on June 17, 1993.
 Superior TeleTec Inc. manufactures and sells telecommunications products primarily to the independent telephone holding companies and the Regional Bell Operating Companies. The company offers both copper cable and wire products and fiber optic cable for Local Area Network applications.
 Consolidated Statements of Income
 Three Months Ended
 6/27/93 6/28/92
 Sales $29,045,848 $35,930,341
 Cost of sales 25,526,798 30,102,109
 Gross profit 3,519,050 5,828,232
 Freight and distribution costs 691,741 1,046,443
 Selling, general, and
 administrative expenses 1,608,407 2,025,878
 Operating income 1,218,902 2,755,911
 Interest expense 229,430 355,963
 Other income (expense) 83,071 (41,532)
 Net income from continuing
 operations before income tax
 expense 1,072,543 2,358,416
 Income tax expense 385,500 902,068
 Net income from continuing
 operations 687,043 1,456,348
 Income from discontinued
 operations, net of related tax
 impact -- 155,053
 Net income $687,043 $1,611,401
 Income per common share and
 common share equivalent
 From continuing operations $.08 $.17
 Net income $.08 $.19
 -0- 8/11/93
 /CONTACT: David S. Aldridge of Superior TeleTec Inc., 404-953-8338, or Lynn Morgen or Edward Nebb, 212-850-5600, or Ken Pieper, 214-701-8851, all of Morgen-Walke Associates/

CO: Superior TeleTec Inc. ST: Georgia IN: TLS SU: ERN

TM -- NY001 -- 1477 08/11/93 07:30 EDT
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Publication:PR Newswire
Date:Aug 11, 1993

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