Operating profit for the third quarter was $37.7 million on sales of $363.2 million compared with $50.7 million (before special charges of $18.4 million) on sales of $384.2 million in 1999. Operating profit margins were 10.4% for the third quarter 2000 compared with 13.2% in the third quarter 1999 (before special charges). Orders received during the third quarter 2000 increased over the orders received during the third quarter 1999 by $8.2 million, or 2%, to $394.7 million. Cash earnings (income from continuing operations plus amortization of goodwill and intangibles) per diluted share were $.43 for the third quarter, compared with $.52 for the third quarter of 1999 (before special charges of $.18 per diluted share).
For the nine months ended September 30, 2000, income from continuing operations was $96.9 million, or $1.57 per diluted share outstanding, compared with $98.8 million, or $1.45 per diluted share outstanding for the nine months ended September 1999 (before special charges of $18.4 million pre-tax, $11.9 million after-tax or $.18 per diluted share outstanding in the nine months ended September 30, 1999). During the nine-month period ended September 30, 2000, and September 30, 1999, non-operating gains from the sale of investments and non-operating expenses accounted for $.26 per diluted share and $.03 per diluted share, respectively. Excluding these non-operating items, earnings per diluted share were $1.31 compared with $1.42 (before special charges) for the nine months ended September 30, 1999. Operating profit for the nine months ended September 30, 2000, was $140.6 million on sales of $1.135 billion compared with $161.1 million (before special charges) on sales of $1.190 billion in 1999. Operating profit margins for the nine months ended September 30, 2000, were 12.4% compared with 13.5% for the nine months ended September 30, 1999 (before special charges). Cash earnings per diluted share were $1.82 for the nine months ended September 30, 2000, compared with $1.66 for the same period in 1999 (before special charges).
Order backlog at September 30, 2000, increased by $53.1 million to $462.6 million, an increase of 13.0% from September 30, 1999. Orders continued to increase, improving by $54.8 million, or 5%, to $1.215 billion during the nine-month period ended September 30, 2000 over the same period a year ago.
