Net sales for the fourth quarter were $400.4 million, increasing 47 percent from $271.8 million in the fourth quarter last year. Including special items, the company reported a net loss for the quarter of $25.1 million, or a loss of 94 cents per diluted share.
Excluding special items, earnings were $5.3 million, or 20 cents per diluted share, compared with $8.6 million, or 35 cents per diluted share, in the fourth quarter of 2001.
Full-year net sales increased 34 percent to $1.41 billion from $1.05 billion in 2001, primarily as a result of the Grove and Potain acquisitions.
Merrill Lynch plans retirement seminar
Merrill Lynch is hosting a free seminar to address strategies for investing for retirement.
Using real-life scenarios, Shelby H. Penn, a Merrill Lynch Financial Advisor, will explore goal assessment, risk tolerance and asset allocation to demonstrate how a person can create an efficient and balanced portfolio for retirement.
The seminar will cover the following topics:
- Portfolio management strategies
- Maximizing the return potential for a given risk
- Exploring tax-advantaged strategies to preserve wealth
- Determining the right asset allocation mix for a specific situation
- Maintaining a comfortable lifestyle through retirement while still passing on assets to heirs
The seminar is Feb. 28, beginning with 9:30 a.m. breakfast at Antrim House Restaurant, Fountain Head Plaza, Pennsylvania Avenue, Hagerstown.
To make reservations or for information, call Shelby Penn at Merrill Lynch at 301-393-3551.
City Hospital lab wins accreditation
MARTINSBURG, W.Va. - City Hospital's laboratory has been awarded accreditation with distinction from the Commission of Laboratory Accreditation of the College of American Pathologists, following an on-site inspection.