EXHIBIT 99.1
International Aluminum Corporation Announces Results For Quarter and Fiscal Year
MONTEREY PARK, CA: International Aluminum Corporation (NYSE: IAL) today announced results for the quarter and fiscal year ended June 30, 2003 as follows:
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| Quarter Ended |
| Fiscal Year Ended |
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| 2003 |
| 2002 |
| 2003 |
| 2002 |
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Net sales |
| $ | 49,973,000 |
| $ | 46,201,000 |
| $ | 192,549,000 |
| $ | 191,429,000 |
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Income from continuing operations |
| $ | 1,546,000 |
| $ | 409,000 |
| $ | 4,426,000 |
| $ | 1,485,000 |
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Loss from discontinued operations |
| (1,085,000 | ) | (170,000 | ) | (1,697,000 | ) | (1,533,000 | ) | ||||
Cumulative effect of accounting change |
| — |
| — |
| — |
| (7,935,000 | ) | ||||
Net income (loss) |
| $ | 461,000 |
| $ | 239,000 |
| $ | 2,729,000 |
| $ | (7,983,000 | ) |
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Basic and diluted EPS: |
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Continuing operations |
| $ | .36 |
| $ | .10 |
| $ | 1.04 |
| $ | .35 |
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Discontinued operations |
| (.25 | ) | (.04 | ) | (.40 | ) | (.36 | ) | ||||
Cumulative effect of accounting change |
| — |
| — |
| — |
| (1.87 | ) | ||||
Total |
| $ | .11 |
| $ | .06 |
| $ | .64 |
| $ | (1.88 | ) |
Contact:
David C. Treinen, President (323) 264-1670
Mitchell K. Fogelman, Senior Vice President-Finance (323) 264-1670