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Article: American Standard Companies Inc. Comments on 1997 Earnings Estimates
- Article from:
- PR Newswire
- Article date:
- September 4, 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)
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PISCATAWAY, N.J., Sept. 4 /PRNewswire/ -- American Standard Companies Inc. (NYSE: ASD) today announced that the Company expects third quarter 1997 earnings (before the anticipated write down of purchased R&D associated with the Company's recent medical business acquisitions) to be only moderately up compared to the prior year third quarter of $72 per share. As a result, earnings for the quarter will be below analysts' current expectations.
Weather in American Standard's global air conditioning markets has been significantly cooler than normal. While there was an encouraging rebound in July, August returned to cooler than normal. U.S. residential air ...