CUDAHY, Wis., July 17 /PRNewswire/ -- Ladish Co., Inc. (Nasdaq: LDSH)
(http://www.ladishco.com) today reported 2000 second quarter net income of
$4.25 million on sales of $57.41 million, resulting in diluted earnings per
share of $0.31.
For the first six months of 2000, net income was $9.14 million, while
sales were $112.27 million. Diluted earnings per share for the six months
ended June 30, 2000 were $0.66.
"The 28% increase in sales in the second quarter of this year over 1999
along with a 68% increase in profitability for the same period are directly
attributable to a stronger aerospace market, our strategic acquisition of
Pacific Cast Technologies and meeting industry challenges through improved
operating efficiencies," says Kerry L. Woody, Ladish's President and CEO. "We
are pleased with the year-to-date growth Ladish has experienced and the
improved returns. The integration of Pacific Cast Technologies with the
forging operation in Wisconsin along with our machining business in
Connecticut is ahead of original projections. We remain cautiously optimistic
about the outlook for aerospace and our opportunities for the remainder of
2000 and 2001."
(Dollars in For the Three Months For the Six Months
thousands, except Ended June 30 Ended June 30
earnings per share)
2000 1999 2000 1999
Net sales $57,414 $44,771 $112,266 $87,527
Net income $4,245 $2,528 $9,138 $3,997
EBITDA $9,538 $6,219 $19,688 $11,107
Basic earnings
per share $0.33 $0.18 $0.69 $0.29
Weighted average
shares outstanding 13,035,403 13,681,544 13,250,103 13,776,189
Diluted earnings
per share $0.31 $0.18 $0.66 $0.27
Weighted average
shares outstanding 13,675,514 14,401,338 13,845,543 14,804,473
Ladish Co., Inc. is a leading producer of highly engineered, technically
advanced components for the jet engine, aerospace and general industrial
markets. Ladish is headquartered in Cudahy, Wisconsin with operations in
Wisconsin and Connecticut. Ladish common stock trades on Nasdaq under the
symbol LDSH.
SOURCE Ladish Co., Inc.
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Related links:
http://www.ladishco.com
CONTACT:
Wayne E. Larsen of Ladish Co., Inc.,
414-747-2935, Fax: 414-747-2890; or William J. Libby of Libby
Associates, 203-431-8480, Fax: 203-431-6132, for Ladish Co., Inc.
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