Varity Raises Earnings
TORONTO Net income of
Varity Corporation in the second
quarter advanced to $18.3 million,
or seven cents per common share
outstanding. In contrast, the com
pany posted a loss of $3.8 million
or four cents per share in the year
earlier period on fewer common
shares outstanding.
The company attributed its
higher earnings to rising sales,
improved margins, and gains in
productivity. Sales in the three
months ended July 31, 1988,
reached $582 million, a seven
year high for a single quarter and
26 percent ahead of the same per
iod a year ago when sales were
$462 million.
In the six months ended July 31,
1988, Varity recorded net earn
ings of $33.5 million, or 13 cents
per common share outstanding;
sales at $1,137 million were 24
percent ahead of the year-earlier
level. At mid-year 1987, the com
pany had lost $17.6 million, or 14
cents per common share, on sales
of $915 million.
Gross margins in the latest half
year improved by more than two
percentage points over the com
parable 1987 period. Marketing
and administrative costs declined
as a share of revenues. Miscella
neous income resulting from sales
of surplus assets, a major element
in 1987 earnings, also declined;
this reduction in income was
offset by lower charges for reorga
nization and investment expenses.
Positive cash flow from opera
tions was $3O million.
Tax provisions of $8 million in
the recent quarter and $l4 million
for the six months were offset by
tax credits, which are carried as
extraordinary items and reflect
utilization of prior years’ tax los
ses. The company has significant
( tax loss carry-forwards available.
Victor Rice, chairman and chief
executive officer, said such of
Varity’s three major operating
groups contributed to the gains in
sales and profitability, with each
2 CHEAT HEATERS! 2 GREAT PRICES!
g • Circulating Fan
■ • Removable Fuel Tank
" • Computer Controlled Thermostat
■ • Heats 700 sq ft
■ '
I
■ ~
S IO"OFF^
LADDIN MINI-HEATER
Heats for only 3* an hour
Mfg. List $199.00 Our Low Price $115.00
ONLY *lO5 with coupon
Expires 11/29/88
LEOLA KEROSENE HEATING CENTER (
S 3 W. Main St., Laola, Pa. 17540; Rt. 23 ft 772 • 8 Ml. Eaat of Lane. |
(717) 656-6408 or 1-800-252-4900 tor next day dallvery
ig tie.nv... Hours; Mon. thru Fri. 9 to 9; Sat. 9 to 5
IioLAKEROsIENI HMt'n'g'CENTeV»'we"ShTp" ’ '
In Second Quarter
*3o°° OFF
WICKLESS HEATER
With Coupon - Model HMFI3
Mfr. List $349 Our Low Price $229
ONLY $199 with coupon
Expires 11/29/88
LEOLA KEROSENE HEATING CENTER
93 W. Main St., Laola, Pa. 17540; Rt. 23 & 772 • 6 Ml. East of Lane.
(717) 656-6408 or 1-800-252-4900 for next day delivery
Hours: Mon. thru Frl, 9 to 9; Sat. 9 to 5
■ ■■■■■■■■■■■■l ■ ■ ■
achieving or exceeding sales and
earnings targets.
In the Equipment Group,
Massey-Ferguson tractors and
farm machinery and MF Industrial
machinery boosted sales 35 per
cent in the recent quarter and 27
percent in the six months over the
same periods last year. Rice said
Massey-Ferguson’s sales momen
tum, along with improved operat
ing efficiencies, led to a substan
tial improvement in operating
earnings in the latest quarter over
the year’s opening period.
In the Components Group, Per
kins Engines elevated sales 22
percent in the quarter and 27 per
cent in the first half. Rice said
demand for Perkins’ products
improved in the agricultural, con
struction and industrial machinery
sectors.
In the North American Enter
prises Group, Dayton Walther
raised sales 6 percent in the recent
quarter and 16 percent in the first
half, reflecting healthy conditions
in the truck and trailer industries.
A new operating business, which
supplies products for automotive
and machinery aftermarkets,
recorded sales of almost $2O mil
lion in its first three months of
operations.
Rice noted that Varity now has
posted net earnings for four conse
cutive quarters.
He said the company was
encouraged by its latest financial
performance. “Our operations
have made much progress,” he
observed, "but we remain mindful
that we are engaged in highly
competitive businesses. This envi
ronment imposes unrelenting
pressure to squeeze costs and
improve margins. Our people
have responded to the challenge
with impressive gains in produc
tivity, yet we never expect to
reach a point where we can safely
sit back, point with pride, and
declare the job completed. Our
strategic imperatives contain no
provision for standing still.”
12” tractor unit tree clipper
Chipmore TU-120 25-75
HP w/3 PI hitch cut to 4"
dia. branch. New, used
once $4OOO.
215-691-8170.
18' heavy duty JD disc,
$4,250 201-859-2616
1969 John Bean speed
sprayer, model 557-cp,
GMC HD V-6 gasoline en
gine. 500 gallon SS tank
34" blower fan, good run
ning condition, $3,800.
609-767-3737 day,
609-567-4186 evening.
1972 MF 510 dsl., 2200
hrs., 13', good condition
After SPM, 215-593-6043
1978 JD 7000 conserva
tion corn planter, 6RN w/
liquid fert, com and soy
bean units and insecticide
attachment. Cast iron and
rubber press wheels. JO &
White coulters w/regular
monitor. 301-838-5639.
1980 Ford skid loader,
40hp, gas, water-cooled
engine, needs hydraulic
pump & other minor work,
$3,000/best offer; Home
made horse trailer, tandem
axles, needs finishing,
$3OO firm. 301-357-8031.
2010 diesel JD, narrow
front, fair condition, $l6OO.
717-656-2615.
3,000 gal glasslined water
tank, large size Bucket A
Day stove w/water tank
Stanamithic cage layer
feeds ■ w/engine. Daniel
Diennsr, 5502 Buena Vista
Rd. Gap, Pa. 17527,
355 NH grinder mixer w/
scales, 20' unloading au
ger, 1 yr. old; 350 Kill Bros
gravity box w/8 ton running
gear, like new. Washington
Co., MD. 301-797-5665.
4WD tractor tires, Goo
dyear 16.4x38, 8 ply and
14.9x36 ply, including rims,
used only 175 hrs. Will fit
Same tractors and others
$l2OO. Cumberland Co.
717-532-3360.
600 Bobcat skid loader on
steel, works OK $1800;
TD6 4 cyl. dsl. w/PTO
undercarriage and engine
in very good condition
$3500. Cumberland Co
717-423-5414.
600 Gehl Harvester, 2 row
narrow HA9OO pickup; 282
NH baler; 206 Owatonna
haybine; Dion wagon 6' 3
beater & roof; Gehl wagon
14' 3 beater roof; 130-4
bottom semi-mounted
plow. 717-733-7069
6R corn head for NH TR7O,
low acres $2500.
301-898-7426.
700 lb Allis Chalmers tow
motor, good working
condition, $4,000. First
Come First Serve
717-354-7561
702 Uni, gas, 1700 hrs.,
2RW, busker, sheller, field
ready $3200
717-437-2721
705 Uni system w/767
super chopper, together or
separate. 717-597-5623
"i
B Vt ' Myers snowplow, four
spring, for tractor use,
good, $450, MF 44 corn
head, good, $5OO
215-863-4019.
863 International 6m corn
head, very good 18 4-38
J D. hub mount duals for
4430, 50% 18’ J D BWF
wing fold rock flex disc,
needs blades, frame good.
915 International combine
for parts (high profile)
302-834-1698.
B'xl6' new oak farm trailer
$6OO 301-898-7426.
MF drill, 22 tine, almost
new; AC combine, 16' flex
head; IH 706 tractor. WF,
3PTH; JD A tractor. 3PTH.
301-758-1524.
liur.stn.xnAoe on rent through rm
PHONE: 717-626-1164 or 717-394-3047
FARM
EQUIPMENT
Asplundh Chipper, 9", 65
Case 1845 C skid loader, HP, extra knives, now
1100 hrs., like new. paint, good condition,
$13,750. 717-529-2512. $4500. 215-628-2232.
Case 18458 and 18358
skid loader, low hrs. Lan
caster 717-738-1742.
WANTED; Case Backhoe
580 E 4x4, cab, 4inl, Bucks
Co 215-249-0873
evenings
Case 970 diesel tractor,
1973 model, good sound BACKHOE JD 310 w/cab,
tractor, $5500 or best offer new rubber, $9,000.
717-284-2444. 301-833-9091
Case model 1370 tractor BATWING mower, Woods
w/duals, $5,400 20' demo, $6,500
717-532-7054 301-833-9091
Case tractor-loader
backhoe, gas, good oondi
tion. Call 8 to 5
215-926-2441
Chisel plow 156 Athens 3
bar heavy duty.
215-469-9633.
Complanters: 2 and 3 row
with John Deere Max-
Emerge II units Plateless
or vacuum. 3-Point or pull
type. Tifone air-blast spray
ers. Reasonably priced.
Pequea Planter, 561 White
Horse Rd„ Gap, PA 17527.
Lancaster Co.
CRAWLER LOADER CAT
955 L, 1974, very good con
dition, $19,500.
301-833-9091
CRAWLER LOADER
BACKHOE Cat 9318.
1982, $1 7,500.
301-833-9091
CRAWLERS
PARTS BY THE 1000 s
Cat. AC, IHC, JD. Terex,
Oliver and Komatsu.
RUBBER TIRED
LOADERS ALSO
If we don't have it—we will
find it...
Free parts locator service
auailanlo
LOMBARDO EQUIPMENT
Sinking Spring, PA
215-678-1999
CRAWLER
TRACTOR PARTS
New and Used Parts Avail
able for Cat, Allis Chal
mers, IHC, Case, John
Deere and others.
Rubber tired construction
equipment parts available
for Hough, Michigan, Ga
lion and Cat Road Graders.
Call or wnte for equipment
and parts brochure
Crawler loader JD3SO-B w/
npper, rops, PS, reverser,
$10,200 Good condition
302-836-1757
Deere 4400 diesel, very
good, thru our shop, new
cylinder bars, $7,450. Larry
Stalter, the ‘Combine
Man". 1-800-248-2151
Deutz-Alhs 6265, 4WD,
cab, AC, heater, 380
hours, like new Model 465
Deutz-Allis front end
loader, self leveling, 84’
bucket, $20,500 or best of
fer. Days, 215-683-6260 or
215-663-8935 after 6pm
DuAII 3506 front end loader
w/brackets, to install on JO
5010, $2,000 Ed Vogt &
Son. Medford, NJ 08055
609-654-7489 evenings
Farmall 460, quick hitch,
w/NI loader & back blade
$l7OO 717-935-2481.
Farmall H with pulley and
live hydraulic, good condi
tion, new battery , $775.
717-786-2103
Farmall Super A w/
cultivators, very nice condi
tion 717-653-5359
Farman pasture renovator,
brand new. Half Price
$2,000 or Offer
301-833-1847
VILSMEIER
EQUIPMENT, INC.
Route 309
Montgomeiyville, Pa
18936
Phone 215-699-3533
BACKHOE FORD 3550 w/
cab, good looking but
needs some motor work,
$5,000. 301-833-9091
BACKHOE FORD 555,
1982, cab, extend-a-hoe,
low hrs., $14,500
301-833-9091
BATWING mower, new
Woods 20', $B,OOO
301-833-9091
BATWING mower, new
Woods 15', $5,750.
301-833-9091
Backhoe, Ford 3550 w/
cab, good looking, needs
motor work. $4,800
301-833-9091.
Big Dutchman Stor-Vey
storage bin, 6'xB', 10 ton
capacity, 15' high.
215-267-3187
CASE 630 gas w/loader,
$2,200. 301-833-9091
For Sale: Crawler Tracks,
will fit D 2 or D 3 Cat., very
good, 80%, $l5OO
215-445-6976.
For Sale: Farmall M w/
loader, new rubber, 12-V,
10-A manure spreader,
steel wheels, 5-Ton run
ning gear. 301-845-8650
For Sale: Farmall 460
diesel tractor; Fox 2RN
chopper; Nl 2 row mounted
com picker; JD FB grain
drill, hydraulic.
301-658-5299
For Sale: Mounted Nl
picker with husking and
shelling units.
703-483-4420
For Sale: Nl 2200 manure
vacuum tank.
215-255-4311
GENERATOR 4 cyl., gas
eng , 120-240 V $l2OO
717-548-3038.
HALE PUMP. Hale organic
grinder, electric priming
system, 300 psi capacity,
1,000 RPM. Used once,
$lO,OOO Call
201-859-2616
Hawk Bill spreader, model
185 w/hyd lid; (2) JR Van
Brunt 13 disc gram drills
York Co 717-266-2828 or
717-266-3424
Hay Buster no till gram drill,
model 1206, 24 disc 12'
width, good condition
717-567-6059
Hedlund Martin equalizer
manure auger in excellent
condition $4500; Hesston
manure agitator, 3PTH, 18’
long, very good condition
$lOOO. Will sell together or
separately 814-856-2769
IH 1066 turbo, dual hy
draulics, 540-1100 PTO,
2400 hrs, excellent condi
tion, JD B W/3PTH, JD A for
parts; Woods 72’ trail
mower, 12' Oliver transport
disk w/cylinder, 12' Bnllion
roller; Gehl CB6OO chop
per, 2R com head, grass
head; 2 Gehl forage wa
gons; Gehl hi throw silage
blower Chesterfield, NJ
609-298-8745
IH 504 gas, 3PT, TA, IH
454 w/Dunham quick at
tach loader, 1% ' bucket; 7'
Sauder snow blade; Nl 279
cut/ditioner. 717-949-3074
or 703-879-9926, from
early morning Hi Bpm
IH 544 row crop w/WF, 3PT
$3900; Nl 323 picker
$2350, NH 456 trailer
mower, like new $1500; Ni
cholson hay tedder $750,
IH 540, 4 bottom plow
$9OO 215-562-4464