Our discussions today lasted longer than expected. But today we laid the necessary groundwork so that this company will continue to have a stable financial foundation in the future.
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Mohawk Industries, Inc. (NYSE:MHK) today announced 2009 second quarter net earnings of $46 million and diluted earnings per share (EPS) of $0.67. Operating income for the second quarter was $75 million. A restructuring charge of $12 million was recorded in the quarter primarily due to the closure of a European laminate facility.
Weyerhaeuser Company (NYSE: WY) today reported a net loss of $106 million for the second quarter, or $0.50 per share, on net sales from continuing operations of $1.4 billion.
Second Quarter Revenue of $1.766 Billion; Companys Consumer Inkjet Sales Growth Continues to Significantly Outpace the Market; Customer Orders Begin for KODAK PROSPER Platform, Based on Stream Inkjet Technology; Kodak Ends Second Quarter with Cash Balance of More Than $1.1 Billion; Cash Usage in Line with Companys Seasonal Pattern; Continued Cost Discipline and Focused Innovation Drive Combined Reduction in SG&A and R&D Expenses of $165 Million for the Quarter
Lee Enterprises, Incorporated (NYSE:LEE), reduced cash operating expenses, excluding unusual items(1), 22.0 percent in its third fiscal quarter ended June 28, 2009, as operating revenue declined 20.5 percent. Excluding non-cash impairment charges and other unusual items, diluted earnings per common share were 12 cents, compared with 30 cents a year ago. Free cash flow(2) totaled $22.1 million, compared with $34.2 million in 2008.
Dividend Action Taken to Focus on Reducing Debt and Managing Cost of Credit in Light of Continued Economic Uncertainty
