For the nine months ended Oct. 31, net income was $38.8 million or $1.66 per share on sales of $2.37 billion versus $55.6 million or $2.38 per share on revenue of $2.57 million in third quarter 2000.
Long-term debt is down to $415.2 million compared with $577 million a year ago.
"We are focused on managing our assets more effectively and reducing debt levels," David H. Hughes, company chairman/CEO, says in a prepared statement. At the end of the third quarter, the long-term debt-to-capital ratio was 41% compared to 50% a year ago.
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