|
1997 Annual Report
1997 Financial Highlights
| |
1997 |
1996 |
Change |
| Sales |
$3.7 billion |
$3.8 billion |
-2% |
| Sales From Continuing Operations |
$3.6 billion |
$3.6 billion |
0% |
| Net Income |
$297.6 million |
$213.0 million |
40% |
| Basic Net Income Per Common Share |
$1.70 |
$1.20 |
42% |
| Diluted Net Income Per Common Share |
$1.67 |
$1.19 |
40% |
| Return on Stockholders' Equity (1) |
29.3% |
28.3% |
-- |
| Return on Average Capital Employed (1,
2) |
21.6% |
18.9% |
-- |
| Net Debt to Total Capitalization (3) |
21.8% |
30.7% |
-- |
| Weighted Average Number of Shares Outstanding |
175,203,292 |
174,082,298 |
1% |
| Book Value Per Common Share |
$5.73 |
$5.00 |
15% |
| Number of Employees |
22,000 |
24,000 |
-8% |
(1) Excluding gains on disposal of assets, restructuring
charges and other special items.
(2) Capital employed is defined as stockholders' equity plus all long-
and short-term debt. Income is adjusted for after-tax interest expense.
(3) Debt is reduced by cash on hand.
1997 Segment Results
|
Sales from Continuing Operations
$3.6 Billion
|
|
Operating Profit
$453 Million
|
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