THERMO FIBERTEK ANNOUNCES THIRD QUARTER RESULTS
THERMO FIBERTEK ANNOUNCES THIRD QUARTER RESULTS AUBURN, Mass., Nov. 4 /PRNewswire/ -- Thermo Fibertek Inc.
(AMEX: TFT, which is currently trading on a when-issued basis) today reported revenues of $31.1 million for the quarter ended Sept. 26, 1992, compared with $29.1 million for the quarter ended Sept. 28, 1991. Net income was $2.0 million, or 9 cents per share, for the current quarter, compared with net income of $1.7 million, or 8 cents per share, for the same quarter last year.
William Rainville, president and chief executive officer of Thermo Fibertek, said, "We are pleased with the successful completion of our rights offering and, as a public company, will continue to pursue growth in the paper-recycling equipment industry." Thermo Fibertek develops, markets, and manufactures a range of equipment and accessory products for the domestic and international paper industry. The company's products include de-inking and stock- preparation equipment for paper recycling. Thermo Fibertek is a public subsidiary of Thermo Electron Corporation (NYSE: TMO). THERMO FIBERTEK INC. Financial Highlights Three Months Ended Nine Months Ended 9/26/92 9/28/91 9/26/92 9/28/91 Revenues $31,116,000 $29,090,000 $92,663,000 $93,227,000 Income before provision for income taxes 3,543,000 3,000,000 10,156,000 9,808,000 Net income 2,033,000 1,694,000 5,951,000 5,540,000 Earnings per share(a) 9 cents 8 cents 28 cents 28 cents Weighted average shares(a) 22,391,000 20,000,000 21,611,000 20,000,000 ---- NOTE TO EDITORS: (a) Share data has been adjusted to reflect a two- for-one stock split effected on Sept. 17, 1992. -0- 11/4/92 /CONTACT: John N. Hatsopoulos of Thermo Electron, 617-622-1111/ (TMO TFT) CO: Thermo Electron Corporation ST: Massachusetts IN: SU: ERN
CH -- NE007 -- 2366 11/04/92 09:59 EST
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|Date:||Nov 4, 1992|
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