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THE ACTAVA GROUP REPORTS SECOND QUARTER RESULTS

 ATLANTA, July 30 /PRNewswire/ -- The Actava Group Inc. (NYSE: ACT), formerly Fuqua Industries, today reported approximate breakeven results for the second quarter of 1993, compared to a profit of $2.6 million, or $.16 per share, for the second quarter of 1992.
 Actava had previously announced, on July 22, preliminary results of slightly less than breakeven. The actual results for the second quarter reflected a profit of $43,000. Sales for the quarter of $313 million were an increase of 8 percent from the same period last year. In addition, Actava reaffirmed its decision to continue to explore alternatives for realizing value from its investment in Snapper.
 Actava said that all of its business segments experienced sales increases in the second quarter in comparison to last year. Newly acquired DP(R) contributed $5 million in sales for the quarter from its acquisition date of June 8, and the other Actava Sports companies contributed a combined sales increase of 6.8 percent. Both Snapper and Qualex, Actava's photofinishing company jointly owned with Eastman Kodak Company, also experienced a combined sales increase for the quarter. Earnings are lower this quarter as compared to the same quarter last year due to a continuation of costs associated with the introduction of new Snapper products, higher working capital interest costs, and increased legal and professional costs relating to the now-completed Intermark/Triton bankruptcy proceedings.
 For the first six months of 1993, Actava had a net loss of $7.6 million, or $.45 per share, as compared to net income of $1.9 million, or $.11 per share, for the first six months of 1992. The 1993 results include a loss of $2.7 million, or $.16 per share, from recognizing employee post-employment benefit liabilities as a cumulative effect of a change in accounting principle. The 1992 results include income of $1 million, or $.06 per share, from a change in accounting principle related to proof-advertising programs for photofinishing customers. The year-to-date net loss excluding the cumulative effect of the changes in accounting principles was $4.8 million, or $.29 per share, as compared to net income of $825,000 or $.05 per share, for the same 1992 period.
 The Actava Group has five companies engaged in the broader leisure industry: DP(R) (fitness and recreation equipment); Qualex (photofinishing); Hutch Sports USA (sporting goods equipment); Nelson/Weather-Rite (camping and outdoor products); and Willow Hosiery (athletic and family hosiery). These Actava companies provide high- quality, brand-name consumer products through distribution channels in the sports, fitness and recreation areas. Another member of The Actava Group is Snapper, which manufactures and markets premium quality lawn care and garden products.
 THE ACTAVA GROUP INC.
 Summary of Earnings
 (In thousands except per share data)
 3 mos. ended 6/30/93 6/30/92
 Sales $ 313,261 $ 288,248
 Net income (loss) before cumulative
 effect of change in accounting
 principle 43 2,631
 Cumulative effect of change in
 accounting principle --- ---
 Net income (loss) after cumulative
 effect of change in accounting
 principle 43 2,631
 Income (loss) per common share:
 Before cumulative effect of change
 in accounting principle --- 0.16
 Cumulative effect of change in
 accounting principle --- ---
 Net income (loss) after cumulative
 effect of change in accounting
 principle --- 0.16
 Avg. common and common equiv.
 shares 16,820 16,544
 6 mos. ended 6/30/93 6/30/92
 Sales $ 577,148 $ 564,532
 Net income (loss) before cumulative
 effect of change in accounting
 principle (4,831) 825
 Cumulative effect of change in
 accounting principle (2,730) 1,034
 Net income (loss) after cumulative
 effect of change in accounting
 principle (7,561) 1,859
 Income (loss) per common share:
 Before cumulative effect of change
 in accounting principle (0.29) 0.05
 Cumulative effect of change in
 accounting principle (0.16) 0.06
 Net income (loss) after cumulative
 effect of change in accounting
 principle (0.45) 0.11
 Avg. common and common equiv.
 shares 16,683 16,544
 -0- 7/30/93
 /CONTACT: Frederick B. Beilstein III, senior vice president, treasurer and CFO, or Bridget B. Sullivan, manager-Investor Relations of The Actava Group, 404-658-9000/
 (ACT)


CO: The Actava Group ST: Georgia IN: LEI SU: ERN

RA-BN -- AT002 -- 7647 07/30/93 10:01 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
Words:700
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