Denver-based Manville (NYSE), half-owner of the Stillwater platinum mine in southwestern Montana, took a 9% drop in first- quarter revenue from US$72.1 million in 1989 to US$65.5 million in 1990. The international manufacturing and natural resource supplier reported earnings of US$24.9 million (18 cents per share) compared with US$34.4 million (26 cents per share) in the same quarter last year.
The slip in earnings is attributed to “overall weakness in construction and industrial product lines,” said Tom Stephens, president and chief executive officer. Manville specializes in forest products, fiber glass, and specialty products.
The company recently announced that it plans to sell its 50% interest in the Stillwater Mine (T.N.M., April 30/90), the largest producer of platinum outside of South Africa.006 0508,0206,0304,0008 Manville (NYSE) $000s except per-share items* Quarter ended Mar. 31 1990 1989 Revenue $65,507 $72,074 Net earnings 24,900 34,352
per share 0.18 cents 0.26 *US dollars004
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