Bethlehem Steel Corp.Bethlehem Steel Corp. released its...

BY THE NUMBERS

July 30, 1992

Bethlehem Steel Corp.

Bethlehem Steel Corp. released its second-quarter earnings report yesterday, and there were no surprises for investors.

The steelmaker posted a quarterly loss of nearly $64 million on sales of $1 billion, in line with its forecast two weeks ago. At that time, Bethlehem said it would take a $25 million second-quarter charge because of an unfavorable ruling in a Kentucky court battle over mineral rights.

Bethlehem's basic steel operations division, which includes it Sparrows Point mill in Baltimore County, accounted for most of the company's loss.

Three months ended 6/30/92

. ........Revenue.. . .. . ..... NET. .. .. . .. ...Share

'92 . .. 1,014,300,000. .. . . (63,900,000). ... (0.92)

'91. ... 1,115,000,000 . ......(29,100,000). . . (0.46)

change. . ........-9.0. ... ... ....... --. ......... --

Six months ended 6/30/92

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

'92 . .....2,009,700,000. .... (108,500,000). .... (1.58)

'91. .. .. .2,170,600,000. ..... (68,300,000). .....(1.06)

% change. ...........-7.4. .... .. . ..... --. .......... --

USF&G Corp

USF&G Corp. said yesterday that it eked out its second narrowly profitable quarter in a row in the three months that ended in June, but, just as in early 1992, the Baltimore insurance conglomerate posted a small loss after it paid the dividend on its preferred stock.

The second straight quarter of essentially break-even performance pleased analysts, most of whom had expected a slightly bigger loss. And two analysts predicted that USF&G will return to yearly profits next year after breaking even or losing a small amount in 1992. That would mark the company's comeback from its nearly overwhelming problems in 1990 and last year.

The numbers worked out to a profit of $6 million in the quarter before the dividend was paid. But after the dividend was paid, the company lost 7 cents a share, or about $5.9 million.

-

Three months ended 6/30/92

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

'92. ...... 900,000,000. .. 6,000,000.. ..(0.07)

'91. .....1,053,000,000. ..(56,000,000)..(0.77)

% change...........-14.5. ..... ..... --. .... --

Six months ended 6/30/92

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

'92. ......1,841,000,000.....10,000,000. .... (0.17)

'91. ......2,137,000,000...(111,000,000).....(1.47)

% change. .... ....-13.9. .... .. ... --. ........ --

Earnings per share are adjusted for the payment of dividend to preferred stockholders.

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