Cleaning & Restoration Breaking News

Flanders Corporation Reports Second Quarter 2001 Results

August 24, 2001
/ Print / Reprints /
ShareMore
/ Text Size+
ST. PETERSBURG, Fla. -- The largest domestic manufacturer of precision air filters and filtration equipment for the HVAC industry, saw a 43 percent retreat in net earnings as the company second quarter 2001 results, which ended June 30.

ST. PETERSBURG, Fla. -- Flanders Corporation (Nasdaq:FLDR), the largest domestic manufacturer of precision air filters and filtration equipment for the HVAC industry, saw a 43 percent retreat in net earnings as the company second quarter 2001 results, which ended June 30.

"Business conditions in the second quarter were difficult, particularly in the latter part of the quarter, and certainly worse than in the first quarter of this year," said Flanders CEO Robert Amerson.

Flanders reported net earnings from continuing operations of $546,000, or 2-cents per share, down 43 percent from $959,000, or 4-cents per share in the second quarter of 2000. Revenues for the quarter were flat at approximately $50 million compared to the second quarter of 2000. Earnings before interest, taxes, depreciation and amortization (EBITDA), declined 4 percent from $5 million compared to $5.2 million for the second quarter ended June 30, 2000.

Earnings from continuing operations for the six months were $1.4 million, down 50 percent compared to $2.9 million for the six months ended June 30, 2000. Revenues for the six months ended increased 3 percent to $97 million. This compares to $94 million for the six months ended June 30, 2000.

"Year over year sales for the second quarter were flat compared to last year," Amerson said. "In particular, sales activity and operating results in the high end filtration side of our business declined significantly. Being the largest manufacturer of consumable, disposable residential and commercial air filters used in HVAC applications gives our sales and profits some additional stability, but we are not immune to fluctuations in the overall economy."

The company implemented a 10 percent salary reduction effort in August.

For more information on Flanders, visit its web site at www.flanderscorp.com.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

Podcasts

Have a limited marketing budget but realize the importance of neighborhood marketing? Try doorknob hangers, a low-cost, yet highly effective way to drum up more business. In this episode, John Braun discusses the value of this tactic as well as what you should include on the materials you're hanging.
More Podcasts

ICS Cleaning Specialist Magazine

CoverImage

2014 September

The September issue of ICS features stories on moisture detection, disinfectant services, neighborhood marketing, then we discuss the last level of being phenomenal, and cool products.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive

THE ICS STORE

Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.pngcrc logo