AAON Announces All-Time Record Quarterly Results

Apr 18, 2001, 01:00 ET from AAON, Inc.

    TULSA, Okla., April 18 /PRNewswire/ -- AAON, Inc. (Nasdaq:   AAON) today
 announced all-time record quarterly results for the three months ended
 March 31, 2001, with earnings for the period exceeding those of the same
 period in 2000 by $.10 per share and beating analysts' expectations.
     Sales in the first quarter of 2001 increased 11.1% to $39.4 million from
 $35.5 million a year ago.  Net income gained 17.4% to $3.6 million or $0.59
 per share from $3.0 million or $0.49 per share in 2000.
     Norman Asbjornson, President and CEO stated, "the higher sales volume
 combined with continued improvement in operating efficiencies enabled gross
 margins to widen by 20.0% to $5.9 million from $4.9 million, which was the
 major factor in producing the record operating results."
     He added that, "while we are extremely pleased with AAON's first quarter
 performance, the economic outlook for the foreseeable future is more
 challenging than in the recent past.  Nevertheless, we remain optimistic of
 achieving another record year of sales and earnings in 2001."
     This press release contains "forward looking statements" within the
 meaning of Section 27A of the Securities Act of 1933.  Statements regarding
 future prospects and developments are based upon current expectations and
 involve certain risks and uncertainties that could cause actual results and
 developments to differ materially from the forward-looking statements.
 
       AAON, Inc.  Nq
       Quarter March 31:                           2001             2000
       Revenues                                $39,435,000      $35,465,000
       Net Income                              $ 3,576,000      $ 3,045,000
       Avg diluted shares                        6,043,275        6,251,962
       Share earnings
           Net income        Basic             $       .62      $       .51
                             Diluted           $       .59      $       .49
 
 
             Condensed Consolidated Balance Sheet as of March 31, 2001
     Assets
     Total Current Assets              $51,600,000
     Net Property, Plant & Equip.      $32,648,000
     Total Assets                      $84,248,000
 
     Liabilities and Equity
     Total Current Liabilities         $38,385,000
     Long-Term Debt                    $ 5,592,000
     Shareholders' Equity              $40,271,000
     Total Liabilities & Equity        $84,248,000
 
 

SOURCE AAON, Inc.
    TULSA, Okla., April 18 /PRNewswire/ -- AAON, Inc. (Nasdaq:   AAON) today
 announced all-time record quarterly results for the three months ended
 March 31, 2001, with earnings for the period exceeding those of the same
 period in 2000 by $.10 per share and beating analysts' expectations.
     Sales in the first quarter of 2001 increased 11.1% to $39.4 million from
 $35.5 million a year ago.  Net income gained 17.4% to $3.6 million or $0.59
 per share from $3.0 million or $0.49 per share in 2000.
     Norman Asbjornson, President and CEO stated, "the higher sales volume
 combined with continued improvement in operating efficiencies enabled gross
 margins to widen by 20.0% to $5.9 million from $4.9 million, which was the
 major factor in producing the record operating results."
     He added that, "while we are extremely pleased with AAON's first quarter
 performance, the economic outlook for the foreseeable future is more
 challenging than in the recent past.  Nevertheless, we remain optimistic of
 achieving another record year of sales and earnings in 2001."
     This press release contains "forward looking statements" within the
 meaning of Section 27A of the Securities Act of 1933.  Statements regarding
 future prospects and developments are based upon current expectations and
 involve certain risks and uncertainties that could cause actual results and
 developments to differ materially from the forward-looking statements.
 
       AAON, Inc.  Nq
       Quarter March 31:                           2001             2000
       Revenues                                $39,435,000      $35,465,000
       Net Income                              $ 3,576,000      $ 3,045,000
       Avg diluted shares                        6,043,275        6,251,962
       Share earnings
           Net income        Basic             $       .62      $       .51
                             Diluted           $       .59      $       .49
 
 
             Condensed Consolidated Balance Sheet as of March 31, 2001
     Assets
     Total Current Assets              $51,600,000
     Net Property, Plant & Equip.      $32,648,000
     Total Assets                      $84,248,000
 
     Liabilities and Equity
     Total Current Liabilities         $38,385,000
     Long-Term Debt                    $ 5,592,000
     Shareholders' Equity              $40,271,000
     Total Liabilities & Equity        $84,248,000
 
 SOURCE  AAON, Inc.