Strong Fourth Quarter For Arnold Industries

February 11, 2000

Arnold Industries Inc., Lebanon, PA, reported record operating revenues for the fourth quarter of 1999 and for 1999. For the quarter, operating revenues rose $9.7 million, and the three Arnold Industries business units contributed to an increase in operating income of $568,077.

Operating revenues for 1999 increased $24.5 million, while operating Income decreased $352,323. Basic earnings per share, however, were up 2 percent from 1998 at $1.40. The increase was attributed to a more favorable tax rate and the company's repurchase of shares in the open market during the 1999 calendar year.