Formica announces second quarter results, waiver from bank syndicate
WARREN, N.J.-- Formica Corporation recently announced its results for the quarter that ended June 30. The report includes the results of Perstorp Surface Materials AB ("PSM") for all periods beginning April 1, 2000 and thereafter.
Net sales for the quarter decreased $26.7 million, or 12.1 percent, to $194.4 million compared with $221.1 million for the same period in 2000. For the six months net sales increased $21.1 million to $388.5 million from $367.4 million.