25 February 1999: US-based Holophane Corporation has announced record revenues, operating income and net income for the year ending 31 December 1998.
The company reported sales of US$ 214.9 million,…
25 February 1999: US-based Holophane Corporation has announced record revenues, operating income and net income for the year ending 31 December 1998. The company reported sales of US$ 214.9 million, an increase of 5% from US$ 205.3 million in 1997, and an operating income of US$ 31.6 million, up from US$ 31.0 million. Net income was US$ 19.2 million, or US$ 1.72 per share on a diluted basis, up 8% from US$ 1.60. Basic earnings per share were US$ 1.77, up from US$ 1.65. Fourth quarter sales were US$ 56.4 million, up 5% from 1997. Operating income was US$ 9.4 million, up from US$ 9.0 million. Net income rose to US$ 5.8 million compared to US$ 5.4 million. Earnings per share for the quarter increased 13% to US$ 0.53 on a diluted basis. Basic earnings per share were US$ 0.54, up from US$ 0.49. “I am pleased that 1998 was another record year,” said Holophane Chairman and CEO, John DallePezze. “While the overall level of sales growth was less than we would like to have seen, our earnings per share increased at a greater rate due to operational efficiencies and strong cash flow which supported our stock repurchase program. Our outlook continues to be positive. Our fourth quarter order rate increased 11% vs. 1998, and we have some exciting new products coming on stream that will add to the top line in 1999.” Holophane said it continues to strengthen its financial condition by emphasizing its competitive strengths, controlling costs and increasing productivity. Holophane Corporation is an international manufacturer and marketer of premium quality, highly engineered lighting fixtures and systems for a wide range of industrial, commercial and outdoor applications.