- Email: [email protected]
Farr buys more stock
May 1999
TRION'S Q1 PROFITS SURGE A 61 per cent increase in Trion Inc's first quarter net income may signal a return to form for the group. Net income for the first quarter of 1999 was US$435 000 compared with US$271 000 in 1998. Net sales were down to US$14.9 million, from US$16.0 million a year earlier. Trion's significant improvement in earnings was due to a number of factors. The company's cleanroom business showed substantial growth during the first quarter with sales increasing over 20 per cent along with an improved rate of profitability. Although order levels continue to fluctuate, the company believes this key market segment will continue to improve. Additionally, Trion's ongoing cost reduction programmes put in place in 1998 had a favorable impact on the company's performance. Steven Schneider, president and CEO, said that improvements made to operations and cost structures have paid off handsomely in both manufacturing margins and operating profits. Schneider said Trion had taken several steps to position itself for expected growth in key markets. The company had signed a lease on a new state-of-theart facility in Albuquerque, New Mexico to house its cleanroom business, while Trion's expanded website, www.trioninc.com, will be fully operational in the second quarter of this year when the company should begin selling its high performance appliance products on the Internet.
MEMBRANE MEETING The 17th Annual Membrane Technology/Separations Planning Conference will be held on 6-7 December 1999 at the Marriott Hotel in Newton, Massachusetts, USA.
Filtration Industry Analyst
The programme will focus on the relationship between discovery and dollars, highlighting the market realities of turning innovation into viable enterprises and matching development with user demand. Beyond the Millenni-
um: The Driving Forces, Emerging Markets and Future Directions for Membrane~Separations Technology will look at successful strategies, technological troubleshooting, economic projections, marketplace realities, materials research, systems design, regulatory requirements and novel applications. The conference will cover fuel cells, water, wastewater treatment, module design, biomedical materials, chemical processes, food processing, semiconductors, manufacturing, reverse osmosis, microfiltration, ultrafiltration, ceramics and liquid membranes. For further details, contact Business Communications Company Inc, 25 Van Zant Street, Norwalk. CT 06855, USA. Tel: +1 203 853 4266 Fax: +1 203 853 0348
FARR BUYS MORE STOCK As part of its stock repurchase programme, Farr Company has acquired 360 000 shares during the first quarter of this year. To date, 720 000 shares have been repurchased out of the 1.0 million shares, which the Farr board has authorised for that purpose. In June 1998, the directors authorised Farr to repurchase up to 500 000 shares of its common stock, and this past February granted authorisation for the acquisition of an additional 500 000 shares. Chairman Jack Meany said that with a market price in the US$8 range and the company's strong cash flow, they continue to believe that Farr stock represents an attractive use for company cash.
US FILTER CONTINUES ON THE ACQUISITION TRAIL US Filter Corporation has acquired William R Perrin Ontario Ltd, a Canadianbased provider of filter presses, screw presses, belt presses and gravity belt thickeners. Perrin's products separate solids from liquids to either produce a product or minimise waste. This technology is applied in municipal water and wastewater treatment, the chemical industry, mining, metal finishing, industrial wastewater, pharmaceutical, food processing, pulp and paper, dyestuffs and pigments, petroleum and ceramics. Perrin is one of North America's largest manufacturers of filter presses, with more than 5000 installations worldwide.
ESSEF REPORTS BUOYANT Q2 Swimming pool and spa equipment company Essef Corporation has reported record sales for the fiscal 1999 second quarter and sixmonth period ended 31 March 1999. Net sales of US$115.2 million increased 26 per cent from US$91.8 million for the same period last year. Net income increased 18 per cent for the fiscal 1999 second quarter to US$2.4 million. Thomas Waldin, Essef's president and chief executive officer, said they were entering their seasonally strongest quarter with an optimistic outlook. "Our pool businesses are wellpositioned for their peak seasons and will gain from the integration of the acquisitions completed in 1998. Additionally, we expect the Water Treatment and Systems Equipment Segment results to keep improving from cost reduction programmes and sales trends as the year progresses."
Alfa Laval has acquired Vicarb SA. a French manufacturer of compact heat exchangers for industrial use. Headquartered in Grenoble, Vicarb has a turnover of nearly ~ET0 million and employs 700 people worldwide. Oiltools International Limited, a specialised oilfield service company and longtime Pall distributor, has acquired Pail's Well Technology division. Eric Krasnoff, PaWs chairman and CEO, said the well technology business was not related to P~Ol's core focus. The US Food and Drug Administration has given Minntech 510(k) clearance to market FiberFlo ® hollow fiber in-line capsule filters for medical applications. FiberFlo ® capsule filters remove spores, bacteria, and pyrogens from highpurity water and aqueous solutions. US Filter Corporation's Colorado Springs facility is now ISO 9001 certified. The 78 000 square-foot plant manufactures both standard and engineered-to-order systems. These include reverse osmosis systems, KF Softeners, Memcor Continuous Microfiltration systems, Memtek EFC systems, and the US Filter proprietary continuous deionization systems. This equipment is used to produce high-purity water for a number of industries including pharmaceutical/biotechnology, food and beverage, medical/research, microelectronics and power. WTC Industries Inc, the West St Paul, Minnesota manufacturer of water filtration and purification products for commercial and personal use, has restructured a significant portion of its short-term debt.
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TRION'S Q1 PROFITS SURGE A 61 per cent increase in Trion Inc's first quarter net income may signal a return to form for the group. Net income for the first quarter of 1999 was US$435 000 compared with US$271 000 in 1998. Net sales were down to US$14.9 million, from US$16.0 million a year earlier. Trion's significant improvement in earnings was due to a number of factors. The company's cleanroom business showed substantial growth during the first quarter with sales increasing over 20 per cent along with an improved rate of profitability. Although order levels continue to fluctuate, the company believes this key market segment will continue to improve. Additionally, Trion's ongoing cost reduction programmes put in place in 1998 had a favorable impact on the company's performance. Steven Schneider, president and CEO, said that improvements made to operations and cost structures have paid off handsomely in both manufacturing margins and operating profits. Schneider said Trion had taken several steps to position itself for expected growth in key markets. The company had signed a lease on a new state-of-theart facility in Albuquerque, New Mexico to house its cleanroom business, while Trion's expanded website, www.trioninc.com, will be fully operational in the second quarter of this year when the company should begin selling its high performance appliance products on the Internet.
MEMBRANE MEETING The 17th Annual Membrane Technology/Separations Planning Conference will be held on 6-7 December 1999 at the Marriott Hotel in Newton, Massachusetts, USA.
Filtration Industry Analyst
The programme will focus on the relationship between discovery and dollars, highlighting the market realities of turning innovation into viable enterprises and matching development with user demand. Beyond the Millenni-
um: The Driving Forces, Emerging Markets and Future Directions for Membrane~Separations Technology will look at successful strategies, technological troubleshooting, economic projections, marketplace realities, materials research, systems design, regulatory requirements and novel applications. The conference will cover fuel cells, water, wastewater treatment, module design, biomedical materials, chemical processes, food processing, semiconductors, manufacturing, reverse osmosis, microfiltration, ultrafiltration, ceramics and liquid membranes. For further details, contact Business Communications Company Inc, 25 Van Zant Street, Norwalk. CT 06855, USA. Tel: +1 203 853 4266 Fax: +1 203 853 0348
FARR BUYS MORE STOCK As part of its stock repurchase programme, Farr Company has acquired 360 000 shares during the first quarter of this year. To date, 720 000 shares have been repurchased out of the 1.0 million shares, which the Farr board has authorised for that purpose. In June 1998, the directors authorised Farr to repurchase up to 500 000 shares of its common stock, and this past February granted authorisation for the acquisition of an additional 500 000 shares. Chairman Jack Meany said that with a market price in the US$8 range and the company's strong cash flow, they continue to believe that Farr stock represents an attractive use for company cash.
US FILTER CONTINUES ON THE ACQUISITION TRAIL US Filter Corporation has acquired William R Perrin Ontario Ltd, a Canadianbased provider of filter presses, screw presses, belt presses and gravity belt thickeners. Perrin's products separate solids from liquids to either produce a product or minimise waste. This technology is applied in municipal water and wastewater treatment, the chemical industry, mining, metal finishing, industrial wastewater, pharmaceutical, food processing, pulp and paper, dyestuffs and pigments, petroleum and ceramics. Perrin is one of North America's largest manufacturers of filter presses, with more than 5000 installations worldwide.
ESSEF REPORTS BUOYANT Q2 Swimming pool and spa equipment company Essef Corporation has reported record sales for the fiscal 1999 second quarter and sixmonth period ended 31 March 1999. Net sales of US$115.2 million increased 26 per cent from US$91.8 million for the same period last year. Net income increased 18 per cent for the fiscal 1999 second quarter to US$2.4 million. Thomas Waldin, Essef's president and chief executive officer, said they were entering their seasonally strongest quarter with an optimistic outlook. "Our pool businesses are wellpositioned for their peak seasons and will gain from the integration of the acquisitions completed in 1998. Additionally, we expect the Water Treatment and Systems Equipment Segment results to keep improving from cost reduction programmes and sales trends as the year progresses."
Alfa Laval has acquired Vicarb SA. a French manufacturer of compact heat exchangers for industrial use. Headquartered in Grenoble, Vicarb has a turnover of nearly ~ET0 million and employs 700 people worldwide. Oiltools International Limited, a specialised oilfield service company and longtime Pall distributor, has acquired Pail's Well Technology division. Eric Krasnoff, PaWs chairman and CEO, said the well technology business was not related to P~Ol's core focus. The US Food and Drug Administration has given Minntech 510(k) clearance to market FiberFlo ® hollow fiber in-line capsule filters for medical applications. FiberFlo ® capsule filters remove spores, bacteria, and pyrogens from highpurity water and aqueous solutions. US Filter Corporation's Colorado Springs facility is now ISO 9001 certified. The 78 000 square-foot plant manufactures both standard and engineered-to-order systems. These include reverse osmosis systems, KF Softeners, Memcor Continuous Microfiltration systems, Memtek EFC systems, and the US Filter proprietary continuous deionization systems. This equipment is used to produce high-purity water for a number of industries including pharmaceutical/biotechnology, food and beverage, medical/research, microelectronics and power. WTC Industries Inc, the West St Paul, Minnesota manufacturer of water filtration and purification products for commercial and personal use, has restructured a significant portion of its short-term debt.
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