BETHLEHEM STEEL ANNOUNCES SECOND QUARTER 1997 RESULTS
CONSOLIDATED STATEMENTS OF INCOME
(dollars and shares in millions, except per share data)
(unaudited)
Three Months
Ended
June 30 |
|
Six Months Ended
June 30 |
|
|
|
|
1997
(unaudited) |
|
1996
(unaudited) |
|
|
1997
(unaudited) |
|
1996
(unaudited) |
|
|
|
|
|
|
$1,206.9 |
|
$1,236.9 |
|
Net
Sales |
|
$2,399.4 |
|
$2,355.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Costs and Expenses: |
|
|
|
|
|
1,053.4 |
|
1,092.9 |
|
Cost of sales |
|
2,105.9 |
|
2,102.8 |
|
60.4 |
|
73.2 |
|
Depreciation |
|
117.3 |
|
143.1 |
|
26.1 |
|
26.1 |
|
Selling, administration and general
expense |
|
52.9 |
|
52.2 |
|
(135.0) |
|
- |
|
Estimated gain on exiting business |
|
(135.0) |
|
- |
|
|
|
|
|
|
|
|
1,004.9 |
|
1,192.2 |
|
Total Costs and Expenses |
|
2,141.1 |
|
2,298.1 |
|
|
|
|
|
|
|
|
202.0 |
|
44.7 |
|
Income from Operations |
|
258.3 |
|
57.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing Income (Expense): |
|
|
|
|
|
(12.1) |
|
(14.1) |
|
Interest and other financing costs |
|
(23.9) |
|
(28.1) |
|
2.1 |
|
1.5 |
|
Interest and other income |
|
3.5 |
|
3.0 |
|
|
|
|
|
|
|
|
192.0 |
|
32.1 |
|
Income before Income Taxes |
|
237.9 |
|
32.2 |
|
|
|
|
|
|
|
|
|
|
|
|
(32.0) |
|
(5.5) |
|
Provision for Income Taxes |
|
(39.5) |
|
(5.5) |
|
|
|
|
|
|
|
|
160.0 |
|
26.6 |
|
Net Income |
|
198.4 |
|
26.7 |
|
|
|
|
|
|
|
|
|
|
|
|
10.4 |
|
10.5 |
|
Dividends on Preferred and
Preference Stock |
|
20.8 |
|
21.0 |
|
|
|
|
|
|
|
|
$149.6 |
|
$16.1 |
|
Net Income Applicable to Common
Stock |
|
$177.6 |
|
$5.7 |
|
|
|
|
|
|
|
|
|
|
|
|
Net Income per Common Share: |
|
|
|
|
|
|
$1.33 |
|
$0.14 |
|
Primary |
|
$1.58 |
|
$0.05 |
|
$1.19 |
|
$0.14 |
|
Fully Diluted |
|
$1.47 |
|
$0.05 |
|
|
|
|
|
|
|
|
|
|
|
|
112.3 |
|
111.1 |
|
Average Primary Shares Outstanding |
|
|
112.1 |
|
111.0 |
The accompanying Notes are an
integral part of the Consolidated Financial Statements.
Quarterly Financial Statements
Home  Financial About Divisions Steel Links Products
Markets What's New
E-mail comments to: [email protected]
�1998, Bethlehem Steel Corporation |
