TENNEY ENGINEERING REPORTS RESULTS
TENNEY ENGINEERING REPORTS RESULTS UNION, N.J., Nov. 13 /PRNewswire/ -- Robert S. Schiffman, president
and chief executive officer of Tenney Engineering, Inc. (AMEX: TNY), today announced Tenney's results of operations for the third quarter and nine months ended Sept. 30, 1991.
Revenue from continuing operations for the third quarter of 1991 were $4,173,000, compared to $3,912,000 in 1990. Earnings from operations for the 1991 period were $212,000, as compared to earnings from operations of $16,000 in 1990. For the third quarter of 1991, the company had net earnings of $355,000, which included a gain on sale of property of approximately $290,000, as compared to a net loss of $175,000 in 1990. Revenue from continuing operations for the nine months of 1991 were $12,974,000, compared to $12,481,000 in 1990. Earnings from operations for the 1991 period were $96,000, compared to a loss from operations of $613,000 in 1990. The net loss in 1991 was $90,000, which included the gain on sale of property of approximately $290,000, as compared to a net loss in 1990 of $959,000, which included a gain on the sale of a marketable security of approximately $150,000. Tenney Engineering, Inc. engineers, manufactures and markets high- technology environmental test equipment, allied vacuum products and insulated enclosures. TENNEY ENGINEERING, INC. (Dollars in thousands, except share amounts) Quarter ended Sept. 30 1991 1990 Net revenue $4,173 $3,912 Earnings from operations 212 16 Other expense (income) - net (143)(A) 191 Net earnings (loss) 355(A) (175) Earnings (loss) per common share $0.10 $(0.05) Nine months ended Sept. 30 1991 1990 Net revenue $12,974 $12,481 Earnings (loss) from operations 96 (613) Other expense (income) - net 186(A) 346(B) Net loss 90(A) (959)(B) Loss per common share $(0.02) $(0.27) (A) -- Includes a gain on sale of property of approximately $290,000. (B) -- Includes a gain on sale of a marketable security of approximately $150,000. -0- 11/13/91 /CONTACT: Frank E. Colgan, vice president-finance of Tenney Engineering, 908-686-7870/ (TNY) CO: Tenney Engineering, Inc. ST: New Jersey IN: SU: ERN CK-OS -- NY077 -- 4066 11/13/91 15:33 EST
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|Date:||Nov 13, 1991|
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