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Article: Lufkin Industries Reports 4th-Quarter Earnings of $0.50 Per Diluted Share, Exceeding Earnings Guidance; 4th-Quarter Net Sales Increase 33.3%.
- Article from:
- PR Newswire
- Article date:
- February 12, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Lufkin Industries, Inc. today announced results for the fourth quarter and twelve months ended December 31, 2003. Net sales increased 33.3% for the fourth quarter to $74.7 million from $56.0 million for the fourth quarter of 2002. Net earnings rose 207.1% to $3.4 million for the fourth quarter of 2003 from $1.1 million for the comparable prior-year period. Net earnings per diluted share for the latest quarter increased 212.5% to $0.50 from $0.16 for the fourth quarter of 2002. Lufkin's established earnings guidance for the fourth quarter was in a range of $0.25 to $0.45 per diluted share.
Net sales for 2003 were $262.3 million, an increase of 14.7% from $228.7 ...