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Huffy Results Third Quarter

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MIAMSBURG-OHIO, USA (24 October) – Huffy Corporation’s third-quarter net earnings were $5.2 million, or $0.50 per common share, after showing a loss of $2.56 million, or $2.52 per common share, during the same period in 1999. Making and selling bicycles doesn’t seem any longer to be a Huffy core business, restructuring and refinancing having a […]

MIAMSBURG-OHIO, USA (24 October) – Huffy Corporation’s third-quarter net earnings were $5.2 million, or $0.50 per common share, after showing a loss of $2.56 million, or $2.52 per common share, during the same period in 1999.
Making and selling bicycles doesn’t seem any longer to be a Huffy core business, restructuring and refinancing having a major impact on the results. The sale of the Huffy Washington Inventory Service, the sales of the Farmington premises, refinancing costs and extraordinary charges would have been $.37 per common share compared to a loss of $.89 per common share for the same period last year, third-quarter 2000 earnings from continued operations included. In the bicycle division, Huffy reported better margins plus a sales incresae during the third quarter, compared with a loss last year. (WJ)

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