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Denali Reports Third Quarter Results

  • Wednesday, 24th May 2000
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Denali Incorporated announced results for the three months and nine months ended April 1, 2000. Revenues for the fiscal third quarter of 2000 increased 27 percent to $46,142,000, up from $36,328,000 during the third quarter of fiscal 1999. Net loss for the third quarter was $1,650,000, excluding the impact of a restructuring charge in fiscal year 2000, compared to net income of $476,000 for the third quarter of 1999, excluding an extraordinary item. U.S. operations were below plan primarily due to less demand for storage tanks in the petroleum equipment industry. European operations were below plan primarily due to slowness in capital spending by European chemical companies as well as weakness in the Euro currency. The Company manufactures engineered fiberglass-composite tanks, vessels, and piping systems, as well as steel, aboveground storage tanks. Headquartered in Houston, Texas, Denali Incorporated has over 20 manufacturing facilities in the United States, the Netherlands, Germany, the United Kingdom, Poland, France, and Chile and joint ventures in Venezuela and Thailand. For more information on the Company, please visit its Website at www.denaliincorporated.com.


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