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TRINITY INDUSTRIES, INC. REPORTS INCREASE IN REVENUES AND INCOME

 DALLAS, Oct. 19 /PRNewswire/ -- Trinity Industries, Inc. (NYSE: TRN) today reported an increase in revenues and income before cumulative effect of accounting change for income taxes of 18 percent and 105 percent, respectively, for the second quarter, and an increase of 14 percent and 104 percent, respectively, for the first half of its 1994 fiscal year.
 In the three months ended Sept. 30, 1993, revenues totaled $463.6 million. Income before cumulative effect of change in accounting for income taxes of $19.9 million, or $0.50 per share, was recorded. In the six month period, revenues were $865.8 million, and the company recorded income before cumulative effect of change in accounting for income taxes of $36.7 million, or $0.92 per
share. In the prior year's comparable quarter, net income of $9.7 million, or $0.28 per share, was recorded on revenues of $393.8 million. For the first six months of the prior fiscal year, net income of $18.0 million, or $0.52 per share, was recorded on revenues of $758.5 million.
 Business conditions improved during the quarter. In the Railcars segment, the number of railcars shipped during the second quarter increased by approximately twenty-five percent compared to the first quarter, and the railcar order rate approximated the production rate. In the Construction Products segment, the emphasis on infrastructure products, including highway guardrail, safety products and building materials, has improved segment revenues and operating results. In the Marine Products segment, demand for the company's products is broad based and continues to remain strong. The Containers segment is expanding after initial concerns that the proposed BTU tax would inhibit customers use of products in the segment.
 "Trinity has grown and improved service to its customers by focusing on their requirements. Trinity's quality programs are gaining momentum, and we continue to be optimistic about the business prospects for the Company throughout the decade of the nineties," said W. Ray Wallace, Trinity's chairman, chief executive officer, and president.
 Trinity Industries, Inc., with headquarters in Dallas, manufactures and markets a wide variety of metal products, principally in six business segments: Railcars, Construction Products, Marine Products, Containers, Metal Components, and Leasing.
 TRINITY INDUSTRIES, INC.
 Condensed Consolidated Income Statement
 (in millions, except per share data)
 Periods ended Sept. 30 Six Months Three Months
 1993 1992 1993 1992
 Revenues $865.8 $758.5 $463.6 $393.8
 Income before income
 taxes and cumulative
 effect of change in
 accounting for income
 taxes $ 59.6 $ 28.9 $ 32.5 $ 15.6
 Provision for income
 taxes 22.9 10.9 12.6 5.9
 Income before cumulative
 effect of accounting change
 and effect of tax rate
 increase 36.7 18.0 19.9 9.7
 Cumulative effect of change
 in method of accounting
 for income taxes and
 effect of tax rate
 increase 5.8 -- (2.1) --
 Net income $ 42.5 $ 18.0 $ 17.8 $ 9.7
 Income per common and
 common equivalent share
 before cumulative effect
 of accounting change and
 effect of tax rate
 increase $ 0.92 $ 0.52 $ 0.50 $ 0.28
 Cumulative effect of
 accounting change for
 income taxes and effect
 of tax rate increase 0.14 -- (0.06) --
 Net income per common
 and common equivalent
 share $ 1.06 $ 0.52 $ 0.44 $ 0.28
 Weighted average number
 of common and common
 equivalent shares
 outstanding 40.0 34.3 40.1 34.3
 Effective April 1, 1993, Trinity adopted Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes." This statement requires a change from the deferred to the liability method of computing income taxes. As permitted by Statement No. 109, Trinity has elected not to restate the financial statements of any prior period. The cumulative effect of applying the change in accounting method is a decrease in Trinity's deferred tax liability and a nonrecurring credit of $7.9 million or $0.20 earnings per share. Additionally, the effect of the recent change in the tax rate is a charge of $2.1 million or $0.06 earnings per share.
 Earnings per share for the six and three month periods ended Sept. 30, 1992 is adjusted for the three-for-two stock split distributed on Aug. 31, 1993.
 TRINITY INDUSTRIES, INC.
 Condensed Quarterly Segment Data
 Second Quarter
 (in millions)
 Periods ended Sept. 30 Six Months Three Months
 1993 1992 1993 1992
 Revenues:
 Railcars $344.4 $240.7 $189.8 $125.4
 Construction Products 186.2 148.1 98.7 75.0
 Marine Products 166.1 215.3 85.6 113.6
 Containers 71.4 69.1 37.5 35.2
 Metal Components 50.1 47.0 25.0 24.4
 Leasing 47.2 37.8 26.8 20.0
 Eliminations and
 corporate items 0.4 0.5 0.2 0.2
 Consolidated total $865.8 $758.5 $463.6 $393.8
 Periods ended Sept. 30 Six Months Three Months
 1993 1992 1993 1992
 Operating profit (loss):
 Railcars $ 24.8 $ 6.1 $ 13.8 $ 5.4
 Construction Products 23.3 13.2 11.9 5.6
 Marine Products 13.1 15.3 6.9 7.8
 Containers 4.5 8.0 2.0 3.9
 Metal Components 5.9 6.6 2.9 3.3
 Leasing 7.1 1.9 4.1 1.3
 Eliminations and
 corporate items (18.1) (20.6) (8.6) (11.1)
 Consolidated total $ 60.6 $ 30.5 $ 33.0 $ 16.2
 -0- 10/19/93
 /CONTACT: F. Dean Phelps, vice president of Trinity Industries, Inc., 214-689-0592/
 (TRN)


CO: Trinity Industries, Inc. ST: Texas IN: MNG SU: ERN

TM -- NY094 -- 4168 10/19/93 16:20 EDT
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Date:Oct 19, 1993
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