TREDEGAR'S SECOND-QUARTER, SIX-MONTHS RESULTS IMPROVE
TREDEGAR'S SECOND-QUARTER, SIX-MONTHS RESULTS IMPROVE RICHMOND, Va., July 15 /PRNewswire/ -- Tredegar Industries Inc.
(NYSE: TG) reported today its sales, net income and earnings per share for the second quarter ending June 30, 1992.
Second-quarter sales were $117,376,000, down from $122,328,000 in 1991. For the first six months of 1992, sales were $235,688,000, down from $236,325,000 in 1991. Second-quarter net income was $3,812,000, or 35 cents per share, compared with $1,748,000, or 16 cents per share in 1991. For the first six months of 1992, net income was $6,581,000, or 60 cents per share, compared with $1,055,000, or 10 cents per share, a year earlier. Results for the first six months of 1992 include an after-tax charge of $1,182,000, or 11 cents per share. The charge, taken in the first quarter, is related to the accelerated write-off of certain goodwill associated with the company's restructured molded plastics business. John D. Gottwald, Tredegar's president and chief executive officer, said: "Tredegar's overall performance continues to stabilize and improve. We're particularly pleased with the continued improvement in our aluminum and molded plastics businesses. Energy results also improved. Results in our plastic films business were below last year's record pace primarily due to customer inventory adjustments." Tredegar Industries is a diversified manufacturer of plastics and metal products and has interests in coal, oil and gas. -0- 7/15/92 /CONTACT: Edward A. Cunningham, 804-330-1598, or Thomas E.B. Phillips, 804-330-1043, both of Tredegar Industries, Inc./ (TG) CO: Tredegar Industries, Inc. ST: Virginia IN: OIL SU: ERN
JZ -- CH002 -- 9406 07/15/92 09:17 EDT
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|Date:||Jul 15, 1992|
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