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Financial

GenCorp., Fairlawn, Ohio, reported a third-quarter earnings improvement in 1999. Earnings were at $0.53 per diluted share, compared to $0.42 per diluted share in the third quarter of 1998.Sales for the third quarter totaled $459.4 million as compared to $443.1 million in 1998. Operating profit totaled $43.9 million for the third quarter of 1999. This is a 22-percent increase from $36 million in 1998.For the nine months ended August 31, earnings were at $1.56 per diluted share. This is an increase of 24 percent over the $1.26 per diluted share in 1998. Sales for the nine months totalled $1.39 billion, a 16-percent increase from $1.2 billion in 1998.With unusual items, earnings for the third quarter totaled $0.48 per diluted share. This included the $2.8-million expense related to the spin-off of the companys decorative and building products and performance chemical business units into a separate publicly traded company, OMNOVA Solutions Inc. (See Dyeing, PrintingandFinishing News, in this issue.)JPS Industries, Greenville, S.C., has announced the results of the third quarter and nine months ended July 31, 1999.For the third quarter, net income was $3.5 million, or $0.35 per diluted share, on sales of $69.5 million compared to a net income of $939,000, or $0.09 per diluted share, on sales of $74.7 million for the third quarter of fiscal 1998.For the nine months, the company reported a net loss of $22.9 million, or $2.29 per diluted share, on sales of $212.1 million compared to a net income of $5.5 million, or $0.55 per diluted share, on sales of $249.1 million for the first nine months of 1998.NedGraphics Holding N.V., the Netherlands, recently reported that net profits increased to EUR 769 thousand in the first half of 1999. This was a 48.7-percent increase from EUR 517 thousand in 1998.Revenue for the first half 1999 was EUR 9.7 million as compared to EUR 6.6 million in 1998. Gross margin increased by 61.9 percent to EUR 7.7 million. For the first half of 1999, earnings per share were EUR 0.41, an increase of 32.3 percent from 1998.Speizman Industries Inc., Charlotte, N.C., recently reported the results of its fourth quarter and its fiscal year, ended July 3, 1999.Revenues for the fourth quarter were $30 million compared to $24.4 million in the fourth quarter of 1998.Earning for the quarter totaled $610,000, or $0.19 per basic and diluted share. This is a decrease from $686,000 or $0.21 per basic and $0.20 per diluted share for the fourth quarter of 1998.For the fiscal year, revenues were $101.4 million as compared to $90.9 million in the prior fiscal year. The company lost $253,000 or $0.8 per basic and diluted share. This was a decrease from earnings of $1,933,000 or $0.59 basic and $0.56 diluted per share.


November 1999




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