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VAN DORN REPORTS RESULTS FOR 1992

 CLEVELAND, March 1 /PRNewswire/ -- Van Dorn Company (NYSE: VDC) today announced that for the year ended December 31, 1992, net income per share increased to $.65 per share, from $.50 per share in 1991. Net income for 1992 was adversely impacted by a net of $139,000, $.02 per share, related to special charges and credits recorded during the year, including the favorable impact from the adoption of FASB 109. Net income increased to $5,453,518 in 1992, from $4,156,230 in 1991. Net sales for 1992 increased 1.4 percent to $312,893,937, from $308,697,959 in 1991.
 Container segment sales increased 3.4 percent to $218,132,647, as sales for the Central States Can Division increased by 1.5 percent, while sales at the Davies Can Division increased 3.0 percent from 1991 levels. Container segment operating profit increased significantly to $13,386,193, from $11,693,919 for the prior year. The Central States Can Division had a strong profit performance for the year in all of its operations. The Davies Can Division operating profit improved from last year due primarily to gains recognized on the sale of certain property and equipment. Excluding these gains, Davies Can operating profits were below last year's levels.
 Plastic Machinery sales declined 3.0 percent to $94,761,290, but operating profit improved significantly to $1,770,265, from $620,301 in 1991, because of continued manufacturing improvements and cost reductions.
 Fourth quarter net income was $.22 per share versus $.14 per share last year. The fourth quarter net income was favorably affected by a net of $399,000, $.05 per share, due to the gain on the sale of certain property and equipment, offset to some extent by additional costs associated with certain shareholder lawsuits. Net sales for the quarter decreased 6 percent to $74,687,258, from $79,448,720 in the same quarter of 1991, as sales of the Plastic Machinery segment dropped about 19 percent from last year's strong fourth quarter. Container segment sales increased 2 percent for the quarter.
 Commenting on 1992's results, W. G. Pryor, President and Chief Executive Officer, said, "We are pleased with the significantly improved results at the Central States Can and Plastic Machinery Divisions. While continued delays with the introduction of the Trim-Rim(TM) can hurt the Davies Can Division's performance, we are confident that the project will be successful in the future." Pryor also stated that "The Company should be in a position to establish the date for the Special Meeting of Shareholders to consider the proposed merger with Crown Cork & Seal Company within the next two weeks."
 VAN DORN COMPANY
 REPORT FOR THE THREE MONTHS AND TWELVE MONTHS
 ENDED DECEMBER 31, 1992
 WITH COMPARATIVE FIGURES FOR 1991
 For Three Months Ended For Twelve Months Ended
 December 31, December 31,
 1992 1991 1992 1991
 Sales $74,687,258 $79,448,720 $312,893,937 $308,697,959
 Income before
 taxes 2,989,692 1,520,644 7,105,467 5,882,230
 Income taxes 1,112,000 336,000 3,377,000 1,726,000
 Income before
 cumulative
 effect of
 accounting
 change 1,877,692 1,184,644 3,728,467 4,156,230
 Cumulative
 effect of change
 in accounting
 for income taxes - - 1,725,051 -
 Net income 1,877,692 1,184,644 5,453,518 4,156,230
 Income per share
 before cumulative
 effect of accounting
 change (A) .22 .14 .44 .50
 Cumulative effect
 of change in
 accounting for
 income taxes (A) - - .21 -
 Net income per
 share (A) .22 .14 .65 .50
 Average number of
 shares out-
 standing during
 period 8,371,249 8,350,342 8,364,603 8,347,780
 Actual number of
 shares out-
 standing at end
 of period 8,373,962 8,350,342 8,373,962 8,350,342
 (A) Based on the average number of shares outstanding.
 Notes:
 (B) Net income for the year included a net charge of $139,000,
 $.02 per share, relating to a gain on the sale of certain
 property and equipment and the favorable impact of the
 adoption of FASB 109, offset by expenses relating to the
 Crown Cork & Seal proposal, certain shareholder lawsuits,
 severance costs, accrued expenses in connection with the
 cessation of operations of a joint venture and a provision
 for deferred taxes on accumulated profits of a subsidiary.
 (C) Fourth quarter net income was favorably affected by a net of
 $399,000, $.05 per share, due to the gain on the sale of
 certain property and equipment, offset to some extent by
 additional costs associated with certain shareholder
 lawsuits.
 -0- 3/1/93
 /CONTACT: Thomas R. Miklich, executive vice president, Van Dorn Company, 216-447-8777/
 (VDC)


CO: Van Dorn Company ST: Ohio IN: SU: ERN

BM -- CL018 -- 1529 03/01/93 14:55 EST
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Date:Mar 1, 1993
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