Volume 35, Number 9, September 2000
Applied Films Sees Net Income Skyrocket
Applied Films Corp. of Longmont, Colo., posted its results for the fiscal 2000 third quarter and nine-month period ended April 1, 2000. The company saw net income soar to $807,000, or $.18 per diluted share, compared to a net income of $143,000, or $.04 per diluted share, for the fiscal 1999 third quarter. Net sales were $11.8 million versus $8.2 million for the same period last year.
We continued to experience increased demand throughout the third quarter for our thin film coated glass products ..., said Tom Edman, president and CEO. This was evidenced by a 27 percent increase in sales of coated glass over the prior quarter and a 79 percent increase in those sales over the same period last year.
Applied Films Corp. also received its results for the fiscal 2000 fourth quarter and year, both of which ended July 1. For the fourth quarter, the company received a net income of $1.48 million. For the fiscal year, the net income was $3.1 million at $0.69 a share.
PPG Experiences Changes
PPG Industries Inc. of Pittsburgh recently reported its income for the second quarter of 2000, $205 million, with shares priced at $1.17 each. Although the numbers were down from the first quarter of the year, during which PPG achieved a net income of $307 million, officials attributed the decrease to the soaring costs of gasoline.
Mitigating actions include selective price increases and additional cost-containment efforts, and we are hedging future natural gas purchases, said Raymond W. LeBoeuf, board chairman and chief executive officer of PPG.
In addition to reports of its quarterly income, PPG also declared a regular quarterly dividend of 40 cents a share recently. With the announcement of the dividend, LeBoeuf also announced that share repurchases would resume, based on the $10 million share program authorized in 1998.
Pilkington Predicts Strong Year
Londons Pilkington PLC announced recently that the year had started well and demand for its products is strong.
Glass prices have been increased and sales and profits are running ahead of last year, said chairman Nigel Rudd. In North America, demand is strong, with rising prices. Rudd said business is running just as smoothly in Europe.
In June, Pilkington reported annual pre-tax profits of $261.6 million, despite predictions made earlier in the year.
The summer month of August meant more than nice weather for ten of the publicly traded glass companies or companies that own glass concerns. These companies reported increases for the month with Applied Film Corp. soaring ahead of the pack with an impressive 42 percent jump. While eight of the companies posted decreases, ThermoView Industries was once again the leader with a 15 percent decline.
The majority of companies saw increases for the month with Apogee posting the biggest rise of 19 percent.
(July 28 - Aug 31)
|3M Corp. (MMM)||91-93||78.18 - 103.81||20.2|
|Apogee (APOG)||4.31 - 4.44||3.25 - 10.12||12.7|
owns Alumax & Kawneer
|31 - 33.25||27.25 - 43.62||19.2|
|Applied Films Corp. (AFCO)||24.5 - 34.75||3.00 - 42.00||49.6|
|Asahi (ASGLY)||96.5 yen - 89||NA||NE|
|Butler Mfg. (BBR)
|20.19 - 22.19||17.00 - 28.56||5.5|
|7.75 - 7.63||5.50 - 12.75||13.9|
|CRH plc (CRHCY)
owns OldCastle Glass
|17.25 - 17.25||15.87 - 23.75||15.1|
|Donnelly (DON)||13.06 - 13.88||11.75 - 16.81||4.4|
|Dow Chemical (DOW)||28.56 - 26.19||26.00 - 47.16||11.6|
|Dupont (DD)||45.88 - 44.88||42.87 - 75.06||6.4|
|Dwyer Group (DWYR)
owns the Glass Doctor
|2.69 - 2.38||2.00 - 4.25||9.9|
|Flour City Intl (FCIN)||3.38 - 3.81||1.31 - 6.00||NE|
|Lilly Industries (LI)||30.44 - 30.63||10.50 - 30.75||22.4|
|Pilkington plc (PILK)||96.50 pounds - 92||NA||NA|
|PPG (PPG)||40.69 - 40.94||40.94 - 67.00||11.9|
|Solutia (SOI)||14.31 - 15.06||11.25 - 21.81||10.1|
|ThermoView Ind. (THV)||.88 - .75||0.75 - 7.12||NE|
owns VVP America
|3.38 - 3.19||2.93 - 5.87||NE|
NA = Not Applicable; NE = Negative Earnings
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