Thiokol now Cordant Techologies (CDD) Message Board

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Technology Stocks : Thiokol now Cordant Techologies (CDD)

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To: Greg Jung who wrote (116)	7/31/1999 12:39:00 PM
From: Carmine Cammarosano	Read Replies (1) of 127

SALT LAKE CITY, July 27 /PRNewswire/ -- Cordant Technologies Inc. (NYSE: CDD) reported net income of $38.5 million or $1.03 per share for the quarter ended June 30, 1999, compared to $41.1 million, or $1.09 per share, last year. The current quarter's net income included a $3.1 million or $.08 per share charge in the fastener segment for closure and relocation of an aerospace fastener facility. The current quarter also included the reversal of the Howmet Stock Appreciation Rights (SAR) benefit in the first quarter of $1.3 million or $.03 per share. This reversal resulted from Howmet's stock price being above $15 per share on June 30, 1999. Net income for the prior year's quarter included a $2.6 million or $.07 per share tax refund. Excluding these items, earnings per share of $1.14 increased 12 percent over the prior year's quarter. Sales for the quarter were $641.9 million, a two percent increase over second quarter sales a year ago.

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