Good morning Jim and ALL, Monday January 26, 12:23 pm Eastern Time
BMC Industries Sees Lower First Quarter Earnings
BMC INDUSTRIES INC. (MINN.) Sees Lower 1998 First Quarter Earnings, "Significantly" Higher Second Half Earnings
Jan. 26, 1998, BMC Industries Inc. (NYSE:BMC - news) reported that "we expect to feel the continued effect of start-up and expansion-related issues and expenses into the second quarter of 1998. First quarter earnings are expected to be below the prior-year period and second quarter earnings are anticipated to be flat compared with the prior-year quarter.
The company noted that it expects third and fourth quarter earnings to be significantly higher, with earnings for 1998 at least 15% higher than for 1997.
BMC reported net income of $0.28, $0.42, and $0.31 per share, respectively, for the first three quarters of 1997. For the fourth quarter and full year of 1997, BMC reported net income of $0.24 and $1.25 per share, respectively.
In addition, BMC stated that its board authorized the repurchase of up to 1,000,000 common shares from time to time in open market or negotiated transactions.
I hope that you all are having a great day.
Margaret
:) :) :) |
