Federal Screw Works Reports Third Quarter Earnings

Apr 20, 2001, 01:00 ET from Federal Screw Works

    ST. CLAIR SHORES, Mich., April 20 /PRNewswire Interactive News Release/ --
 Federal Screw Works (Nasdaq: FSCR) reports net sales for the third quarter and
 nine months ended March 31, 2001, of $25,820,000 and $79,076,000,
 respectively, compared to net sales of $32,888,000 and $89,280,000 for the
 third quarter and nine months ended March 31 of the prior year.  Net earnings
 for the third quarter and nine months ended March 31, 2001, were $658,000 and
 $2,362,000, or $0.51 per share and $1.82 per share, respectively, compared to
 $3,820,000 and $6,181,000, or $2.88 per share and $4.66 per share, in the same
 periods of the prior year.
     The earnings in the prior year include an after-tax gain of $1,700,000, or
 $1.28 per share, related to the sale of the Steel Processing Division on
 January 20, 2000.  Excluding this gain, net earnings for the third quarter and
 nine months ended March 31, 2000, were $2,120,000 and $4,481,000, or $1.60 per
 share and $3.38 per share, respectively.
     At its meeting today, the Board of Directors declared a regular $.10 per
 share quarterly dividend to be paid July 2, 2001, to shareholders of record
 June 8, 2001.
 
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SOURCE Federal Screw Works
    ST. CLAIR SHORES, Mich., April 20 /PRNewswire Interactive News Release/ --
 Federal Screw Works (Nasdaq: FSCR) reports net sales for the third quarter and
 nine months ended March 31, 2001, of $25,820,000 and $79,076,000,
 respectively, compared to net sales of $32,888,000 and $89,280,000 for the
 third quarter and nine months ended March 31 of the prior year.  Net earnings
 for the third quarter and nine months ended March 31, 2001, were $658,000 and
 $2,362,000, or $0.51 per share and $1.82 per share, respectively, compared to
 $3,820,000 and $6,181,000, or $2.88 per share and $4.66 per share, in the same
 periods of the prior year.
     The earnings in the prior year include an after-tax gain of $1,700,000, or
 $1.28 per share, related to the sale of the Steel Processing Division on
 January 20, 2000.  Excluding this gain, net earnings for the third quarter and
 nine months ended March 31, 2000, were $2,120,000 and $4,481,000, or $1.60 per
 share and $3.38 per share, respectively.
     At its meeting today, the Board of Directors declared a regular $.10 per
 share quarterly dividend to be paid July 2, 2001, to shareholders of record
 June 8, 2001.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X27515252
 
 SOURCE  Federal Screw Works