This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tredegar Reports Third-Quarter Results

Tredegar Corporation (NYSE:TG) reported third-quarter net income of $9.0 million (28 cents per share) compared to $11.0 million (32 cents per share) in the third quarter of 2009. Income from manufacturing operations in the third quarter was $9.9 million (31 cents per share) versus $10.6 million (31 cents per share) in the third quarter last year. Third-quarter sales increased to $197.5 million from $175.7 million in 2009.

A summary of results for manufacturing operations for the three and nine months ended September 30, 2010 and 2009 is shown below:

       
(In Millions, Except Per-Share Data) Three Months Ended Nine Months Ended
September 30 September 30
2010   2009 2010   2009
Sales $ 197.5 $ 175.7 $ 557.5 $ 486.8
 

Net income (loss) as reported under generally accepted accounting principles (GAAP)

$ 9.0 $ 11.0 $ 19.7 $ (11.3 )
After-tax effects of:
Loss from Other segment ongoing operations .5 - 1.9 -

(Gains) losses associated with plant shutdowns, asset impairments and restructurings

.1 - .4 .9
(Gains) losses from sale of assets and other items .3 (.4 ) (.1 ) 3.5

Goodwill impairment relating to aluminum extrusions business

  -     -     -       30.6  
Income from manufacturing operations* $ 9.9   $ 10.6   $ 21.9     $ 23.7  
 
 

Diluted earnings (loss) per share as reported under GAAP

$ .28 $ .32 $ .60 $ (.33 )
After-tax effects per diluted share of:
Loss from Other segment ongoing operations .02 - .06 -

(Gains) losses associated with plant shutdowns, asset impairments and restructurings

- - .01 .01
(Gains) losses from sale of assets and other items .01 (.01 ) - .12

Goodwill impairment relating to aluminum extrusions business

  -     -     -       .90  
Diluted earnings per share from manufacturing operations* $ .31   $ .31   $ .67     $ .70  
 

* Manufacturing operations includes Film Products, Aluminum Extrusions and Corporate Expenses, Interest and Taxes. See Notes to the Financial Tables included with this press release for further detail regarding the items included in the reconciliation between net income (loss) as reported under generally accepted accounting principles (GAAP) and income from manufacturing operations, a non-GAAP financial measure. In addition, Note (h) within the Notes to the Financial Tables provides the definition of income from manufacturing operations and the reasons why management presents the measure.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs