Press release:
Subject: DDL Electronics, Inc. Pro Forma Performance for the
Third Quarter Ended March 31, 1995
The Company released today third quarter operating performance
information for its continuing operations on a pro forma basis.
The financial statements exclude operating results from two of
the Company's subsidiaries, Aeroscientific Corp. and A.J.
Electronics, Inc. As previously announced, assets of both
entities were sold earlier in the current fiscal year.
Third Quarter Proforma Operating Statement Highlights
(Unaudited)
DDL Electronics, Inc. and Subsidiaries
($ in thousands except per share amounts)
Three
Months Ended
March 31
1995 1994
Sales $ 6,079 $ 5,637
Costs and Expenses
Cost of goods sold 4,899 5,120
Administrative and Selling Expenses 906 1,631
Operating (loss) 274 (1,114)
Nonoperating income (expense):
Investment income 27 32
Interest expense (112) (205)
Other Income - 1
Gain on sale of assets - -
Income (loss) before extraordinary item 189 (1,286)
Extraordinary item - -
Net income (loss) $ 189 $(1,286)
Primary earnings (loss) per share:
Net income (loss) per share $0.01
($0.08)
Average primary shares (in thousands) 16,013 15,306
Pro forma operating results are presented to reflect the
sale of substantially all of the assets of the Company's two
United States subsidiaries, Aeroscientific Corp. and A.J.
Electronics, Inc., sold to Yamamoto Manufacturing (USA) Inc. and
Raven Industries, Inc., respectively.