Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

York Updates Guidance
Oct 16, 2002
 Printable format
 Email this Article
 Search

York International Corporation commented on its expectations for the third and fourth quarters of 2002. The company expects its third quarter earnings to be approximately U.S. $0.62-$0.65 per share compared to $0.66 per share in the third quarter of 2001. During the third quarter, the Company's results were more adversely impacted than expected by continued economic deterioration in Latin America and integration activities at the Bristol, VA, U.S. facility. In addition, the Company had unanticipated production cost overruns in the European Refrigeration business and inventory variances in the Engineered Systems Group. The Company's Unitary Products Group experienced a strong residential market and exceeded third quarter expectations.

Michael R. Young, president and CEO said, "Our balance sheet performance continues to be strong and we expect to exceed our debt reduction targets of $120 million for the full year of 2002. During the fourth quarter, we will continue to face poor economic conditions and increasing pricing and cost pressures. As a result, we expect fourth quarter earnings to be in the range of $0.50 to $0.60 per share compared to $0.63 per share in the fourth quarter of 2001."

Results for 2002 exclude the amortization of goodwill resulting from the adoption of FAS 142. Actual third quarter results will be released on Tuesday, Oct. 22, 2002 and the company will provide additional comments at that time.

Back to Daily News

 

Daily News

...........................................................

Oct 30, 2014: Whirlpool Corp. reports strong third-quarter

Oct 30, 2014: Statistical Portrait of the European Appliance Industry Released by Appliance Magazine

Oct 30, 2014: New Whirlpool acquisition Indesit reports profit for year so far

Oct 30, 2014: Consumer Confidence Index rebounds in October

Oct 29, 2014: New home sales up slightly in September 2014

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows