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Lilly Industries reports results for first quarter 2000

Lilly Industries, Inc. of the US, reported sales of US$ 161.1 million for the first quarter ended February 29, 2000, up 10% over last year“s same quarter. Net income for the first quarter declined to…

Lilly Industries, Inc. of the US, reported sales of US$ 161.1 million for the first quarter ended February 29, 2000, up 10% over last year“s same quarter. Net income for the first quarter declined to US$ 4.5 million compared to US$ 5.6 million last year. Diluted net income per share was US$ 0.20, down from US$ 0.24 last year. In a recent company press statement, Douglas W. Huemme chairman and CEO, commented “We continue to be pleased with our top-line growth, which is a direct result of many initiatives over the past several years, as well as our focus in attractive growth markets”. He added that “lower operating margins are not an acceptable result. We have implemented a number of margin improvement activities, including price increases, headcount reductions, plant closures and administrative consolidations”. As a result, Huemme remarked, “We expect another record year in sales, operating income, and earnings per share, and we are cautiously optimistic that second quarter results will exceed last year“s second quarter”.

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