Ogden Financial Data :: essays research papers

OGDEN CORPORATION AND SUBSIDIARIES SELECTED FINANCIAL DATA DECEMBER 31 1988 1987(*) 1986(*) (In thousands of dollars, except per-share amounts) Net sales and service revenues $1,087,785 $ 902,565 $ 819,629 INCOME (LOSS) FROM: Continuing operations 57,780 47,802 35,109 Discontinued operations 80,920 Net income (loss) 57,780 47,802 116,029 EARNINGS (LOSS) PER COMMON SHARE: Continuing operations 1.44 1.19 .89 Discontinued operations 2.09 Total 1.44 1.19 2.98 EARNINGS (LOSS) PER COMMON SHARE-ASSUMING FULL DILUTION: Continuing operations 1.41 1.17 .88 Discontinued operations 2.00 Total 1.41 1.17 2.88 Total assets 2,201,745 1,759,496 1,642,634 LONG-TERM OBLIGATIONS: Operations other than resource-recovery 251,855 183,740 110,315 Resource-recovery operation 1,163,565 795,195 772,754 SHAREHOLDERS' EQUITY 425,754 406,576 392,639 SHAREHOLDERS' EQUITY PER COMMON SHARE 10.70 10.32 10.09 CASH DIVIDENDS DECLARED PER COMMON SHARE 1.10 1.00 .90 (TABLE CONTINUED) DECEMBER 31 1985(*) 1984(*) (In thousands of dollars, except per-share amounts) Net sales and service revenues $ 743,963 $688,669 INCOME (LOSS) FROM: Continuing operations 14,375 24,591 Discontinued operations (35,675) 15,150 Net income (loss) (21,300) 39,741 EARNINGS (LOSS) PER COMMON SHARE: Continuing operations .36 .63 Discontinued operations (.94) .40 Total (.58) 1.03 EARNINGS (LOSS) PER COMMON SHARE-ASSUMING FULL DILUTION: Continuing operations .36 .62 Discontinued operations (.94) .38 Total (.58) 1.00 Total assets 1,465,023 837,445 LONG-TERM OBLIGATIONS: Operations other than resource-recovery 228,103 261,567 Resource-recovery operation 597,945 SHAREHOLDERS' EQUITY 308,833 361,098 SHAREHOLDERS' EQUITY PER COMMON SHARE 7.19 9.38 CASH DIVIDENDS DECLARED PER COMMON SHARE .90 .90 (*) Restated - See Note 1 to Consolidated Financial Statements. [*37] [HARDCOPY PAGE 37] Ogden Corporation and Subsidiaries MANAGEMENT'S DISCUSSION AND ANALYSIS OF CONSOLIDATED OPERATIONS The accompanying financial statements for prior years have been restated to reflect the consolidation of Ogden's leasing and financing subsidiaries and a captive insurance company previously included on the equity method of accounting, as well as the previously off-balance sheet financing assets, liabilities, and related revenues and costs of resource-recovery facilities. (See Note 1 to the Consolidated Financial Statements.) OPERATIONS: Sales and service revenues for 1988 increased by $185,200,000, or 20.5%, over 1987. Operating Services revenues were $108,600,000 higher, primarily reflecting increased revenues of $62,500,000 and $40,000,000 in the Building Services and Aviation Services groups, respectively, chiefly associated with new accounts and increased customer activity. The other areas of Operating Services also had increased revenues, which were partially offset by reduced revenues in Leisure Services of $20,400,000, due primarily to the loss of certain theatre concession accounts in 1987. Environmental Services started commercial operations in 1988 and had revenues of $7,500,000 for the year. Resource-recovery operations had increased revenues of $69,000,000. Service revenues increased $37,000,000 over 1987, reflecting eight facilities in operation in 1988 having a per-day capacity of 7,762 tons, compared with five facilities in operation in 1987 having a per-day capacity of 3,200 tons. Construction revenues were $32,000,000 higher, reflecting three projects under construction in 1988, only one of which reaching more than 25% completion in 1988, compared with two plants under construction and one completed in 1987. Income from operations for 1988 increased $6,000,000 over 1987. Ogden Financial Data :: essays research papers OGDEN CORPORATION AND SUBSIDIARIES SELECTED FINANCIAL DATA DECEMBER 31 1988 1987(*) 1986(*) (In thousands of dollars, except per-share amounts) Net sales and service revenues $1,087,785 $ 902,565 $ 819,629 INCOME (LOSS) FROM: Continuing operations 57,780 47,802 35,109 Discontinued operations 80,920 Net income (loss) 57,780 47,802 116,029 EARNINGS (LOSS) PER COMMON SHARE: Continuing operations 1.44 1.19 .89 Discontinued operations 2.09 Total 1.44 1.19 2.98 EARNINGS (LOSS) PER COMMON SHARE-ASSUMING FULL DILUTION: Continuing operations 1.41 1.17 .88 Discontinued operations 2.00 Total 1.41 1.17 2.88 Total assets 2,201,745 1,759,496 1,642,634 LONG-TERM OBLIGATIONS: Operations other than resource-recovery 251,855 183,740 110,315 Resource-recovery operation 1,163,565 795,195 772,754 SHAREHOLDERS' EQUITY 425,754 406,576 392,639 SHAREHOLDERS' EQUITY PER COMMON SHARE 10.70 10.32 10.09 CASH DIVIDENDS DECLARED PER COMMON SHARE 1.10 1.00 .90 (TABLE CONTINUED) DECEMBER 31 1985(*) 1984(*) (In thousands of dollars, except per-share amounts) Net sales and service revenues $ 743,963 $688,669 INCOME (LOSS) FROM: Continuing operations 14,375 24,591 Discontinued operations (35,675) 15,150 Net income (loss) (21,300) 39,741 EARNINGS (LOSS) PER COMMON SHARE: Continuing operations .36 .63 Discontinued operations (.94) .40 Total (.58) 1.03 EARNINGS (LOSS) PER COMMON SHARE-ASSUMING FULL DILUTION: Continuing operations .36 .62 Discontinued operations (.94) .38 Total (.58) 1.00 Total assets 1,465,023 837,445 LONG-TERM OBLIGATIONS: Operations other than resource-recovery 228,103 261,567 Resource-recovery operation 597,945 SHAREHOLDERS' EQUITY 308,833 361,098 SHAREHOLDERS' EQUITY PER COMMON SHARE 7.19 9.38 CASH DIVIDENDS DECLARED PER COMMON SHARE .90 .90 (*) Restated - See Note 1 to Consolidated Financial Statements. [*37] [HARDCOPY PAGE 37] Ogden Corporation and Subsidiaries MANAGEMENT'S DISCUSSION AND ANALYSIS OF CONSOLIDATED OPERATIONS The accompanying financial statements for prior years have been restated to reflect the consolidation of Ogden's leasing and financing subsidiaries and a captive insurance company previously included on the equity method of accounting, as well as the previously off-balance sheet financing assets, liabilities, and related revenues and costs of resource-recovery facilities. (See Note 1 to the Consolidated Financial Statements.) OPERATIONS: Sales and service revenues for 1988 increased by $185,200,000, or 20.5%, over 1987. Operating Services revenues were $108,600,000 higher, primarily reflecting increased revenues of $62,500,000 and $40,000,000 in the Building Services and Aviation Services groups, respectively, chiefly associated with new accounts and increased customer activity. The other areas of Operating Services also had increased revenues, which were partially offset by reduced revenues in Leisure Services of $20,400,000, due primarily to the loss of certain theatre concession accounts in 1987. Environmental Services started commercial operations in 1988 and had revenues of $7,500,000 for the year. Resource-recovery operations had increased revenues of $69,000,000. Service revenues increased $37,000,000 over 1987, reflecting eight facilities in operation in 1988 having a per-day capacity of 7,762 tons, compared with five facilities in operation in 1987 having a per-day capacity of 3,200 tons. Construction revenues were $32,000,000 higher, reflecting three projects under construction in 1988, only one of which reaching more than 25% completion in 1988, compared with two plants under construction and one completed in 1987. Income from operations for 1988 increased $6,000,000 over 1987.