Acme Electric Corp.
East Aurora electronics firm said it will close its Utah plant and shift those operations to its Arizona facility in an effort to revive its struggling battery business. Because of the restructuring, Acme said it will take a one-time charge of $7.45 million against its earnings during the quarter that ended earlier this month.
Common stock data
Latest close .... $8.00
52-week range .... $6.38-$11.38
Dividend; P/E ratio .... 0; neg.
Beta .... 1.02
Earnings per share
Fiscal year 1993 .... --$0.14
Analysts' mean estimate
for fiscal year 1995 .... NA
Key financial ratios
Profit margin .... --1.38%
Return on common equity .... --2.24%
Return on total assets .... --1.31%
Debt to equity .... 109%
Current ratio .... 4.15
What a key exec says
"The actions we are taking will allow the company to return to profitability during the first half of fiscal year 1995, while improving our ability to effectively compete in the aerospace market with our core product technologies."
-- Robert J. McKenna, president
SOURCES: Bloomberg Business News; Zak's Investment Research.