|
|
Article: Shelby Williams Industries Reports Record Sales, Earnings Per Share for 1996
- Article from:
- PR Newswire
- Article date:
- January 15, 1997
CopyrightCOPYRIGHT 1997 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)
|
CHICAGO, Jan. 15 /PRNewswire/ -- As previously forecast, Shelby Williams Industries, Inc. (NYSE: SY), the nation's leading contract seating company, today announced record sales and earnings per share for the year 1996.
For the year ended December 31, 1996, sales increased 3.4 percent to $172.4 million from $166.8 million in 1995. Excluding the Preview division, which was divested on September 17, 1996, sales increased 5.6 percent. Net income for 1996 rose 24.1 percent to $8.4 million, or 96 cents per share, from $6.8 million, or 76 cents per share in 1995. Gross margin for the year increased to 22.7 percent from 21.9 percent for 1995, reflecting stronger ...