BETHLEHEM STEEL ANNOUNCES FIRST QUARTER 1997 RESULTS
CONSOLIDATED STATEMENTS OF INCOME
(dollars and shares in millions, except per share data)
(unaudited)
|
|
Three Months
Ended
March 31 |
|
|
|
|
| |
|
1997 |
|
1996 |
|
|
|
|
|
| Net Sales |
|
$1,192.5 |
|
$1,118.5 |
|
| Costs and Expenses: |
|
|
|
|
|
| Cost of sales |
|
1,052.5 |
|
1,009.9 |
|
| Depreciation |
|
56.9 |
|
69.9 |
|
Selling, administration
and general expense |
|
26.8 |
|
26.1 |
|
|
|
|
|
| Total Costs and Expenses |
|
1,136.2 |
|
1,105.9 |
|
|
|
|
|
| Income from Operations |
|
56.3 |
|
12.6 |
|
| Financing Income (Expense): |
|
|
|
|
|
| Interest and other
financing costs |
|
(11.8) |
|
(14.0) |
|
| Interest and other income |
|
1.4 |
|
1.5 |
|
|
|
|
|
| Income before Income Taxes |
|
45.9 |
|
0.1 |
|
| Provision for Income Taxes |
|
(7.5) |
|
- |
|
|
|
|
|
| Net Income |
|
38.4 |
|
0.1 |
|
| Dividends on Preferred and Preference Stock
|
|
10.4 |
|
10.5 |
|
|
|
|
|
| Net Income (Loss) Applicable to Common Stock
|
|
$28.0 |
|
$(10.4) |
|
| Net Income (Loss) per
Common Share |
|
$0.25 |
|
$(0.09) |
|
| Average Primary Shares
Outstanding |
|
112.0 |
|
110.8 |
|
The accompanying Notes are an integral part of the Consolidated
Financial Statements.
Quarterly Financial Statements
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