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THOMAS INDUSTRIES INC. ANNOUNCES FIRST QUARTER RESULTS

 THOMAS INDUSTRIES INC. ANNOUNCES FIRST QUARTER RESULTS
 LOUISVILLE, Ky., April 9 /PRNewswire/ -- Thomas Industries Inc. (NYSE: TII) today reported that first quarter 1992 pre-tax earnings, before non- recurring charges, increased to $1,004,000, compared to $481,000 in the first quarter of 1991. After considering non-recurring charges of $5,925,000 in the first quarter of 1992, net income declined from $281,000 or $.03 per share in 1991, to a loss of $3,696,000, or $.37 per share, in 1992. Net sales for the three months ended March 31, 1992, were $100,177,000, a 2.2 percent decline from $102,480,000 for the comparable period a year ago.
 As part of the restructuring, the Company will close its Residential Lighting plant in Beaver Dam, Kentucky, sometime in the third quarter of 1992. This plant is one of three facilities operated by Thomas Industries' Residential Lighting Division. The inventory, equipment, and assembly operations will be consolidated into the Division's Hopkinsville, Kentucky, plant. As a result of this shutdown, the Company will incur non-recurring charges related to severance payments, relocation costs, disposal of assets, and environmental remediation.
 According to Timothy C. Brown, President and Chief Executive Officer, the plant closing is necessitated by a variety of factors, including the historically low level of new residential construction, increased off-shore competition, and improved productivity levels which have created excess manufacturing capacity within the Division.
 In connection with further consolidation efforts, the Emco operation will begin to produce certain McPhilben lighting products, thereby giving the Long Island, New York, location more capability in serving the important New York metropolitan market with commercial and industrial lighting equipment. The Lighting Group will also continue to pursue functional consolidations throughout the course of the year, which are included in this charge.
 To focus its research and development efforts on the basics of its core business, lighting fixtures and systems, the Company is currently negotiating the sale of its electronic ballast technology and related assets. Brown commented, "Thomas Industries intends to continue to make the development of high tech and energy-efficient lighting products a top priority."
 The non-recurring charge also includes costs related to its joint venture in Thailand involving Thomas Industries' Builders Brass Works operation, and the sale of an idle facility in Shakopee, Minnesota, and other Company assets.
 According to Brown, the Company has chosen to take these restructuring charges in order to be fully prepared for future growth opportunities. "To capitalize on programs we currently have in place, to further strengthen operating efficiencies, and to improve future profits, we have decided to take these non-recurring charges resulting in a loss in the first quarter," he said.
 The Company reported that these restructuring charges do not include recognition of the Financial Accounting Standards Board Statement No. 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions," which must be accounted for by the first quarter of 1993.
 In discussing the first quarter results, Brown said, "In our Lighting Group, we are encouraged by improved sales and earnings for our Residential and Outdoor Lighting Divisions. However, due to projections of continued decline in non-residential construction markets through the end of the year, we are not expecting a quick turnaround for our Commercial and Industrial Lighting Division. We are also experiencing continued poor performance by our Canadian Commercial and Industrial Lighting operation as the Canadian markets reflect an even more severe downturn than that in the United States.
 "Our Compressor and Vacuum Pump Group remains strong, and reported record sales and earnings for any first quarter in the Company's history. This Segment's operations in both Europe and North America continue to benefit from the development of new products for emerging markets and applications worldwide."
 Thomas Industries Inc. designs, manufactures and markets a broad array of commercial, industrial and residential lighting products, fractional horsepower compressors and vacuum pumps, as well as specialty products for commercial, industrial and consumer markets. Thomas has operations in the U.S., Canada, Europe and Asia.
 THOMAS INDUSTRIES INC.
 COMPARATIVE SALES AND INCOME
 For the quarter ended March 31
 1992 1991 Pct. Change
 Net sales $100,177,000 $102,480,000 -2.2
 Costs and Expenses 99,173,000 101,999,000 -2.8
 Restructuring Costs 5,925,000 - -
 Income before taxes $( 4,921,000) $ 481,000 -1,123.1
 Net income $( 3,696,000) $ 281,000 -1,415.3
 Net income per share $(.37) $.03 -1,333.3
 Dividends declared
 per share $.10 $.19 -47.4
 Average number of common
 shares outstanding 10,010,421 10,010,252
 The 1992 first quarter income before taxes includes a non-recurring charge of $5,925,000 to establish a reserve for the costs associated with plant consolidations to reduce excess manufacturing capacity in the Lighting Segment, and the disposition of other non-producing assets.
 The 1992 first quarter net income includes a charge of $3,986,000 (40 cents per share) as a result of the above non-recurring charge. The 1992 first quarter net income excluding this non-recurring charge is $290,000 (3 cents per share). THE FOREGOING FIGURES HAVE BEEN APPROVED BY THE MANAGEMENT OF THOMAS INDUSTRIES FOR OFFICIAL RELEASE ON THE DATE INDICATED.
 -0- 4/9/92
 /CONTACT: Corporate Communications Department, 502-893-4628 or 502-893-4600/
 (TII) CO: Thomas Industries, Inc. ST: Kentucky IN: SU: ERN


CM -- CH010 -- 6969 04/09/92 17:07 EDT
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