U.S. Industries To Sell Swimming Pool, Pool Equipment Businesses
In related news, the company reported increased sales for the second quarter of fiscal year 2003 of $283.8 million, a 12 percent rise from 2002 figures of $254.4 million. These increases are primarily due to higher sales in the bath and plumbing segment, which had increased sales of $29.4 million (a 12.9 percent increase from 2002) and increased income of $27.3 million. The second quarter shows a net loss for USI of $33.3 million, or 54 cents per diluted share, compared to the net income of $3 million in fiscal year 2002's second quarter. The loss includes an impairment charge recorded in discontinued operations.