Thomas Announces Gain on Legal Settlement
Louisville, KY., Aug. 29 - Thomas Industries Inc. today announced that for the third quarter of 2003, ending September 30, 2003, equity earnings from Genlyte Thomas Group will include a non-recurring gain of approximately $2.2 million, due to the settlement of GTG's patent infringement lawsuit against Acuity Brands and its Lithonia Lighting Division.
The net income impact of this non-recurring gain for the quarter will be approximately $1.4 million, or $.08 per share.
Thomas expects to release its third quarter earnings sometime during the week of October 20, 2003.
Thomas Industries Inc., headquartered in Louisville, Kentucky, owns a 32 percent interest in Genlyte Thomas Group LLC, the third largest lighting fixture manufacturer in North America. Thomas is the recognized leader in the design and manufacture of Rietschle Thomas brand pumps and compressors for use in global OEM applications, supported by worldwide sales and service for key customer applications and end-user markets. High quality automotive component castings are also a key offering. Other products include Welch laboratory equipment and Oberdorfer centrifugal and rotary gear liquid pumps. Thomas has operations in North & South America, Europe, Asia, and Australia.
Source: Thomas Industries, Inc.