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Oglebay Norton Reports Third Quarter 2003 Results

October 27, 2003
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Oglebay Norton Co. recently reported its results for the third quarter and first nine months ending on September 30, 2003. Revenues for the quarter were $121.5 million compared to $123.7 million in the year-earlier period. Revenues for the nine-month period were $300.9 million compared to $298.6 million in the prior-year nine-month period. Net income for the quarter, including an income tax benefit of $5.2 million, primarily from a reversal of 1999 tax-year reserves, was $325,000, or $0.06 per diluted share. That compares to net income of $2.0 million, or $0.40 per diluted share, for the third quarter last year. Net loss for the nine months, including the impact of the second-quarter 2003 asset impairment charge and the $1.4 million after-tax cumulative effect charge for asset retirement obligations, was $23.3 million, or $4.57 per share, compared to net income of $74,000, or $0.01 per share, for the same period last year.

For more information, visit http://www.oglebaynorton.com .

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