E-Z-GO 1999 Annual Report Download - page 64

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Quarterly Data
(Unaudited)
(Dollars in millions except per share amounts) 1999 1998
Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
Revenues
Aircraft $1,133 $ 899 $ 885 $ 827 $ 849 $ 826 $ 858 $ 656
Automotive 763 662 757 734 670 534 583 618
Industrial 1,197 1,026 1,141 1,092 984 893 952 893
Finance 141 122 104 96 92 99 91 85
Total revenues $3,234 $2,709 $2,887 $2,749 $2,595 $2,352 $2,484 $2,252
Income
Aircraft $ 129 $ 91 $ 75 $ 67 $95 $91 $91 $61
Automotive 66 38 62 62 51 29 43 56
Industrial 112 116 133 122 104 103 108 95
Finance 34 38 30 26 28 33 27 25
Total operating income 341 283 300 277 278 256 269 237
Gain on sale of division ––––––97 –
Special credits/(charges) –3 (2) –––(87)
Corporate expenses and other – net (33) (37) (35) (38) (38) (35) (34) (34)
Interest income 14616–– – –
Interest expense (29) (11) (3) (13) (40) (37) (36) (33)
Income taxes (103) (90) (97) (91) (73) (70) (86) (65)
Distributions on preferred securities of
subsidiary trusts, net of income taxes (7) (6) (7) (6) (7) (6) (7) (6)
Income from continuing operations 170 146 162 145 120 108 116 99
Discontinued operations, net of income taxes:
Income from operations ––––40 34 48 43
Gain on disposal 31 ––1,615 –– – –
31 ––1,615 40 34 48 43
Income before extraordinary loss 201 146 162 1,760 160 142 164 142
Extraordinary loss from debt
retirement, net of income taxes –––(43) –– – –
Net income $ 201 $ 146 $ 162 $1,717 $ 160 $ 142 $ 164 $ 142
Earnings per common share
Basic:
Income from continuing operations $ 1.14 $ .97 $ 1.08 $ .95 $ .76 $ .67 $ .71 $ .60
Discontinued operations, net of income taxes .21 ––10.59 .26 .20 .29 .27
Extraordinary loss from debt
retirement, net of income taxes –––(.28) ––––
Net income $ 1.35 $ .97 $ 1.08 $11.26 $ 1.02 $ .87 $ 1.00 $ .87
Average shares outstanding (in thousands) 148,309 150,069 150,512 152,517 157,225 162,156 163,613 162,809
Diluted:
Income from continuing operations $ 1.12 $ .95 $ 1.05 $ .93 $ .74 $ .65 $ .70 $ .59
Discontinued operations, net of income taxes .21 ––10.34 .26 .20 .28 .26
Extraordinary loss from debt
retirement, net of income taxes –––(.27) ––––
Net income $ 1.33 $ .95 $ 1.05 $11.00 $ 1.00 $ .85 $ .98 $ .85
Average shares outstanding (in thousands)* 151,267 153,406 154,096 156,112 160,980 166,116 168,027 167,155
Operating income margins
Aircraft 11.4% 10.1% 8.5% 8.1% 11.2% 11.0% 10.6% 9.3
Automotive 8.7 5.7 8.2 8.4 7.6 5.4 7.4 9.1
Industrial 9.4 11.3 11.7 11.2 10.6 11.5 11.3 10.6
Finance 24.1 31.1 28.8 27.1 30.4 33.3 29.7 29.4
Operating income margin 10.5 10.4 10.4 10.1 10.7 10.9 10.8 10.5
Common stock information
Price range: High $ 773⁄4$90
1⁄2$ 97 $ 817⁄16 $ 791⁄4$ 761⁄2$ 805⁄16 $ 79
Price range: Low $ 687⁄16 $74
1⁄2$ 785⁄16 $ 70 $ 521⁄16 $ 5615
⁄16 $ 695⁄8$ 563⁄8
Dividends per share $ .325 $ .325 $ .325 $ .325 $ .285 $ .285 $ .285 $ .285
*Assumes full conversion of outstanding preferred stock and exercise of stock options.
62 Consistent Growth
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