Armco Inc.Layoffs at the Baltimore Specialty Steels plant...

BY THE NUMBERS

July 26, 1991

Armco Inc.

Layoffs at the Baltimore Specialty Steels plant and a severe recession among steel users forced this Parsippany, N.J.-based steelmaker to report a $28.5 million loss in the quarter that ended June 30.

Armco said that though each of its divisions made an operating profit, it expected to end 1991 in the red, at least partly because of continued losses in its joint venture with Kawasaki Steel Corp.

Armco attributed $11.1 million of the second-quarter's loss to the cost of layoffs and product line cutbacks at the East Biddle Street plant.

Armco has said it would like to sell the plant.

...

Three months ended 6/30/91

G; .... ....Revenue.... .... .... Net.... .... .... Share

....388,700,000.... .... (28,500,000).... (0.35)

'90.... ....457,200,000.... .... (85,100,000).... (0.98)

% change.......... -15.0.... .... .......... --........ --

Six months ended 6/30/91

G; .... ....Revenue.... .... .... Net.... .... .... Share

....799,200,000.... .... (68,100,000).... (0.82)

'90.... ....903,100,000.... .... (72,200,000).... (0.86)

% change.......... -11.5.... .... ......... -- ....... --

Crown Central Petroleum

Continuing sluggish demand and low gasoline profit margins cut second-quarter earnings for this Baltimore-based petroleum refining and marketing company.

Crown, which took a $5.9 million loss because of lightning strikes at a refinery in the first quarter, said that it made $8.4 million in the second quarter, a 45 percent drop from the year-ago period. Crown said that crude costs this spring were 8 percent higher than last year.

Three months ended 6/30/91

G; .... ....Revenue.... .... .... Net.... .... .... Share

....482,163,000.... .... 8,370,000.. .... 0.85

'90.... ....492,132,000.... .... 15,181,000...... 1.54

% change........... +2.0.... .... ...... 44.9....... 44.8

Six months ended 6/30/91

G; .... ....Revenue.... .... .... Net.... .... .... Share

....901,087,000.... .... 2,421,000.. .... 0.25

'90.... ....950,460,000.... .... 16,325,000. .... 1.66

% change.... ...... +5.2.... .... ...... 85.2. ..... 84.9

UNC Inc.

The Annapolis-based aviation service company reported a sharp rise in second-quarter profits despite a slight dip in revenues.

UNC blamed about 40 percent of the $5.1 million decline in second-quarter revenues on the sale of a non-aviation subsidiary and the recession and war-related factors that caused lower sales in its divisions involved in aircraft engine and accessories overhaul.

UNC indicated the improvement in its earnings over last year was due to higher operating margins in its manufacturing, remanufacturing and overhaul businesses.

Three months ended 6/30/91

G; .... ....Revenue.... .... .... Net.... .... .... Share

....87,197,000 .... .... 1,521,000.. .... 0.09

'90.... ....92,276,000 .... .... 626,000.... .... 0.04

% change...........-5.5 .... .... ....+143.... ..... +125

Six months ended 6/30/91

H

.... .... Revenue.... .... .... Net.... .... .... Share

'91.... .... 172,734,000.... .... 2,964,000.. .... 0.17

'90.... .... 172,289,000.... .... 1,788,000.. .... 0.10

% change............ +0.3.... ..... ... +65.8.. .... +70

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