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Petroleum

Alpine Group Reports Record $547 Million in Revenues for 2000 Second Quarter

Strategic Insights

— 1 min read

The Alpine Group, Inc., a holding company with operations in the wire and cable industry, reported a record $547 million in revenues for its 2000 second quarter, representing a 6% increase from the same period in 1999. Net income for the quarter was $2.8 million, or $0.18 per diluted share, after excluding nonrecurring and unusual charges of $3.0 million.

Key Takeaways:

  • Revenues for the June 30, 2000 quarter were a record $547 million, a 6% increase from the same period in 1999.
  • Net income for the quarter was $2.8 million, or $0.18 per diluted share, after excluding nonrecurring and unusual charges of $3.0 million.
  • Income from continuing operations before nonrecurring and unusual charges was $3.7 million, or $0.24 per diluted share, for the June 30, 2000 quarter.
  • Superior TeleCom Inc., Alpine's 51.7% owned subsidiary, reported strong sequential earnings improvement in its June 2000 second quarter, reflecting strong performance in its core communications and magnet wire businesses.
  • PolyVision Corporation, a 48% owned affiliate of Alpine, reported record revenues and comparative earnings growth in the June 2000 quarter.
  • Alpine expects to report sequential and comparative earnings growth for the second half of 2000 based on expected improvements in earnings at both Superior TeleCom and PolyVision.

Statistics:

  • Record revenues: $547 million (6% increase from 1999)
  • Net income: $2.8 million (after excluding nonrecurring and unusual charges of $3.0 million)
  • Income from continuing operations before nonrecurring and unusual charges: $3.7 million (or $0.24 per diluted share)
  • Superior TeleCom revenues: $225 million (9% year-over-year growth)
  • PolyVision earnings: $7.4 million (29% increase over prior year quarter)
  • Alpine's ownership in PolyVision: 48% (including preferred equity position of $22 million)

Sources:

  • The Alpine Group, Inc. (2000) - Second Quarter Results Announcement (PRNewswire)
  • The Alpine Group, Inc. (2000) - Comparative Income Statement Data
  • The Alpine Group, Inc. (2000) - Comparative Balance Sheet Data

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