Printer Friendly

TRINITY INDUSTRIES REPORTS RESULTS

 TRINITY INDUSTRIES REPORTS RESULTS
 DALLAS, Oct. 15 /PRNewswire/ -- Trinity Industries, Inc. (NYSE: TRN)


today reported an increase in net income of 61 percent for the second quarter and an increase in net income of 37 percent for the first half of its 1993 fiscal year.
 In the three months ended Sept. 30, 1992, revenues totalled $393.8 million. Net income of $9.7 million, or $0.42 earnings per share, was recorded. In the six month period, revenues were $758.5 million, and the company recorded net
income of $18.0 million, or $0.78 earnings per share. In the prior year's comparable quarter, restated net income of $6.0 million, or $0.26 per share, was recorded on restated revenues of $326.8 million. For the first six months of the prior fiscal year, restated net income of $13.1 million, or $0.57 per share, was recorded on restated revenues of $650.1 million.
 In light of the continuing depressed economy, the Marine Products segment continues performing at an improved pace and should continue with favorable results. In the Railcar segment, the order rate approximated the production rate. As orders on hand increased, production rates were increased and are anticipated to increase further as new orders justify expanded production.
 On Sept. 22, 1992, Trinity concluded the previously announced acquisition of all of the outstanding shares of Syro Steel Company for 1,621,448 shares of Trinity common stock. Syro manufactures and distributes a wide variety of fabricated steel products, including highway safety barrier systems, piling products, roll formed products, corrugated plate products, steel service center operations, and other products. Syro is included in the Construction Products segment and accounted for by the pooling of interests method. Prior year amounts have been restated for the inclusion of Syro.
 Trinity President, W. Ray Wallace, said, "The acquisition of Syro is an important addition to Trinity. From Syro's well established national marketing system, Syro gives Trinity a broader product base. We expect the combination of the companies will enhance Trinity's participation in infrastructure markets. We continue to be optimistic about the business prospects for Trinity."
 Trinity Industries, Inc., with headquarters in Dallas, manufactures and markets a wide variety of metal products, principally in six business segments: Railcars, Marine Products, Construction Products, Metal Components, Containers and Leasing.
 TRINITY INDUSTRIES, INC.
 Condensed Consolidated Income Statement
 (in millions, except per share amounts)
 Six Months Ended Sept. 30
 1992 1991
 (Restated)
 Revenues $ 758.5 $ 650.1
 Income before income taxes $ 28.9 $ 21.6
 Provision for income taxes $ 10.9 $ 8.5
 Net income $ 18.0 $ 13.1
 Income per common and
 common equivalent share $ 0.78 $ 0.57
 Weighted average number of common
 and common equivalent shares
 outstanding 22.9 22.8
 Three Months Ended Sept. 30
 1992 1991
 (Restated)
 Revenues $ 393.8 $ 326.8
 Income before income taxes $ 15.6 $ 10.2
 Provision for income taxes $ 5.9 $ 4.2
 Net income $ 9.7 $ 6.0
 Income per common and
 common equivalent share $ 0.42 $ 0.26
 Weighted average number of common
 and common equivalent shares
 outstanding 22.9 22.8
 Trinity Industries, Inc.
 Condensed Segment Data
 (in millions)
 Revenues:
 Six Months Ended Three Months Ended
 Sept. 30 Sept. 30
 1992 1991 1992 1991
 (Restated) (Restated)
 Railcars $ 240.7 $ 254.7 $ 125.4 $ 127.1
 Marine Products 215.3 122.9 113.6 59.4
 Construction Products 148.1 122.9 75.0 64.2
 Metal Components 47.0 47.8 24.4 23.6
 Containers 69.1 66.1 35.2 33.5
 Leasing 37.8 35.4 20.0 18.7
 Eliminations and
 corporate items 0.5 0.3 0.2 0.3
 Consolidated total $ 758.5 $ 650.1 $ 393.8 $ 326.8
 Operating profit (loss):
 Six Months Ended Three Months Ended
 Sept. 30 Sept. 30
 1992 1991 1992 1991
 (Restated) (Restated)
 Railcars $ 6.1 $ 13.3 $ 5.4 $ 5.5
 Marine Products 15.3 0.4 7.8 0.3
 Construction Products 13.2 9.4 5.6 4.4
 Metal Components 6.6 8.1 3.3 4.1
 Containers 8.0 6.6 3.9 3.9
 Leasing 1.9 2.9 1.3 1.2
 Eliminations and
 corporate items (20.6) (15.5) (11.1) (7.7)
 Consolidated total $ 30.5 $ 25.2 $ 16.2 $ 11.7
 -0- 10/15/92
 /CONTACT: F. Dean Phelps, vice president, of Trinity Industries, Inc., 214-689-0592/
 (TRN) CO: Trinity Industries, Inc. ST: Texas IN: SU: ERN


LR -- NY091 -- 0570 10/15/92 15:42 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 15, 1992
Words:754
Previous Article:TORCHMARK CORPORATION REPORTS THIRD QUARTER EARNINGS
Next Article:VICEROY INCREASES EARNINGS IN SECOND QUARTER
Topics:


Related Articles
TRINITY INDUSTRIES REPORTS RESULTS
TRINITY INDUSTRIES REPORTS RESULTS
TRINITY INDUSTRIES REPORTS RESULTS
Trinity Industries Reports Results for Second Fiscal Quarter.
Trinity Industries Reports Results for Third Fiscal Quarter.
Trinity Industries Reports Operating Results for First Quarter of 2003.
Trinity Industries, Inc. Responds to Jury Award in Beaumont, Texas.
Trinity Learning Corporation Completes $5.5 Million Financing from Laurus Funds.
Trinity Industries Announces Increase in Earnings Guidance.
Trinity Industries Announces Barge Litigation Settlement.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters