Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, January 28, 1993 TAG: 9301280058
SECTION: BUSINESS PAGE: B7 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
REPORTED EARNINGS
AMP Inc., a Pennsylvania maker of electronic connection devices with a plant and machine shop in Roanoke, on Wednesday reported 1992 net income of $290 million, or $2.75 per share, up 12 percent from 1991's $259.7 million, or $2.45 per share. Sales rose 8 percent to $3.34 billion from $3.10 billion.In the fourth quarter, net income was $70 million, or 67 cents per share, up 10 percent from $63.5 million, or 60 cents per share, a year earlier. Sales rose 7 percent to $845 million from $791 million.
DuPont
DuPont Co., Wilmington, Del.-based chemicals maker operating a nylon plant at Martinsville, on Wednesday reported a 1992 loss of $3.93 billion, or $5.85 per share, including transition charges, effects of previously announced accounting changes and an extraordinary charge for early redemption of debt. Excluding the charges, net income was $1.24 billion, or $1.81 per share, compared with $1.40 billion, or $2.08 per share, in 1991. Total sales for 1992 were $37.8 billion, up 2 percent.
DuPont reported a fourth-quarter net loss of $230 million, or 35 cents per share, compared with net loss of $240 million, or 36 cents per share, in the 1991 quarter.
Ingersoll-Rand
Ingersoll-Rand Co., Woodcliff Lake, N.J., company operating a rock drill division and a small Anchor Systems plant in Roanoke County, on Wednesday reported fourth-quarter net earnings of $32.4 million, or 31 cents per share, down 41 percent from $54.7 million, or 53 cents per share, for the 1991 quarter. Earnings for 1992, before the one-time cumulative effect of accounting changes, totalled $115.6 million, or $1.11 per share, off 23 percent from $150.6 million, or $1.45 per share for 1991.
Net sales for the quarter were $1.1 billion, a 17 percent increase over the 1991 quarter. Net sales in 1992 totalled $3.8 billion, 5.5 percent higher than in 1991.
USAir Group
USAir Group, Arlington-based parent of USAir, said Wednesday that 1992 losses nearly quadrupled to $1.2 billion from the previous year because of stiff competition and special one-time accounting adjustments. Losses per share for the year were $27.23. In 1991 the company lost $305.3 million, or $7.62 per share. Operating revenues in 1992 improved to $6.7 billion from $6.5 billion in 1991.
In the fourth quarter, the company lost $254 million, or $5.66 a share, on revenue of $1.6 billion. For the 1991 quarter, earnings were $1.7 million, or a loss of 24 cents a share.
Pittston Co.
Pittston Co., Stamford, Conn. parent of Pittston Coal Co. and operator of Southwest Virginia coal mines, reported net income of $49.1 million, or $1.32 per share, for 1992 and $15.6 million, or 42 cents per share, for the fourth quarter. Before special charges, losses were $151.9 million, or $4.07 per share, for the year and $67.8 million, or $1.82 per share, for the quarter.
Consolidated revenues last year were $2.073 billion, up 10 percent from the year-earlier $1.88 billion. For the quarter, revenues were $543.9 million, up 14 percent from $477.2 million.
Hershey Foods
Hershey Foods Corp., the Hershey, Pa., operator of a pasta plant at Winchester, on Wednesday reported 1992 net sales of $3.22 billion, up 11 percent from $2.89 billion in 1991. Net income for 1992 was $242.6 million, or $2.69 per share, up 11 percent from $219.5 million, or $2.43 per share.
Net sales for the fourth quarter were up 12 percent to $969.5 million from $863.9 million a year earlier. Net income for the quarter was $82.3 million, or 91 cents per share, compared with $74.9 million, or 83 cents per share.
Memo: ***CORRECTION***