Printer Friendly

TRIMAS CORPORATION ANNOUNCES RECORD FIRST-QUARTER RESULTS AS EARNINGS PER SHARE INCREASE 18 PERCENT ON HIGHER NUMBER OF SHARES OUTSTANDING

 ANN ARBOR, Mich., April 27 /PRNewswire/ -- TriMas Corporation (NYSE: TMS) today reported record first-quarter sales and earnings for the period ended March 31, 1993. Net sales for the quarter increased 12 percent to $106.9 million and operating profit gained 16 percent as compared to the prior year period.
 Earnings available for common stock, after providing for preferred stock dividends, increased 73 percent to $6.7 million, compared to $3.9 million in 1992's first quarter. Earnings per common share increased 18 percent in the first quarter to $.46 based on 14.6 million shares outstanding as compared to $.39 per share and 9.9 million shares outstanding in the first quarter of 1992. The 47-percent increase in the number of common shares outstanding resulted from the public offering of 4.6 million shares in April 1992.
 During the first quarter of 1993, all of the company's business segments recorded increased sales and operating earnings, as compared to the first quarter 1992. Based on the company's expectation of continuing modest economic improvement during the year, ongoing operating efficiencies, market share initiatives and new product introductions, management believes that TriMas should achieve record sales and earnings in 1993.
 TriMas Corporation is a diversified proprietary products company with leadership product positions in commercial, industrial and consumer niche markets.
 TRIMAS CORPORATION
 Consolidated Condensed Statements of Income
 (Unaudited)
 Three Months Ended
 March 31,
 1993 1992
 Net sales $106,920,000 $95,820,000
 Cost of sales (74,150,000) (66,310,000)
 Selling, general and
 administrative expenses (17,260,000) (16,120,000)
 Other expense, net (1,430,000) (3,950,000)
 Income before income taxes 14,080,000 9,440,000
 Income taxes 5,660,000 3,830,000
 Net income $8,420,000 $5,610,000
 Earnings available for common stock $6,670,000 $3,860,000
 Earnings per common share $0.46 $0.39
 Weighted average common and common
 equivalent shares outstanding 14,566,000 9,905,000
 -0- 4/27/93
 /CONTACT: Brian P. Campbell, president, TriMas Corporation, 313-747-7025/
 (TMS)


CO: TriMas Corporation ST: Michigan IN: SU: ERN

ML -- DE007 -- 1161 04/27/93 09:00 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 27, 1993
Words:357
Previous Article:MASCO INDUSTRIES, INC. ANNOUNCES IMPROVED 1ST-QUARTER RESULTS
Next Article:VERTICAL TECHNOLOGIES ANNOUNCES TRACK-ONE(TM) TRACKING SOFTWARE: A LOW-COST, EASY-TO-USE SOLUTION FOR MANAGING AND TRACKING INFORMATION
Topics:


Related Articles
TRIMAS CORPORATION ANNOUNCES RECORD THIRD-QUARTER RESULTS AS EARNINGS PER SHARE INCREASE 41 PERCENT ON HIGHER NUMBER OF SHARES OUTSTANDING
TRIMAS CORPORATION ANNOUNCES RECORD SECOND-QUARTER RESULTS AND INTENT TO OFFER CONVERTIBLE SUBORDINATED DEBENTURES
TRIMAS CORPORATION ANNOUNCES RECORD THIRD-QUARTER RESULTS AS EARNINGS PER SHARE INCREASE 18 PERCENT
TRIMAS CORPORATION ANNOUNCES RECORD 1993 SALES AND EARNINGS AND FORECASTS A RECORD YEAR IN 1994
TRIMAS CORPORATION ANNOUNCES RECORD FIRST QUARTER RESULTS AS EARNINGS PER SHARE INCREASE 26 PERCENT ON HIGHER NUMBER OF SHARES OUTSTANDING
TRIMAS CORPORATION ANNOUNCES RECORD SECOND QUARTER RESULTS AS EARNINGS PER SHARE INCREASE 18 PERCENT ON HIGHER NUMBER OF SHARES OUTSTANDING
TRIMAS CORPORATION ANNOUNCES RECORD THIRD QUARTER RESULTS AS EARNINGS PER SHARE INCREASE 27 PERCENT ON HIGHER NUMBERS OF SHARES OUTSTANDING
TRIMAS CORPORATION ANNOUNCES RECORD FIRST QUARTER RESULTS AS EARNINGS PER SHARE INCREASE 24 PERCENT
TriMas Corporation Announces Record First Quarter Sales And Earnings
TriMas Corporation Announces Record Second Quarter Earnings

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters