United Dominion Confirms SPX Disclosure Concerning Preliminary First Quarter Results
CHARLOTTE, N.C., May 8 /PRNewswire/ -- United Dominion Industries Ltd. (NYSE, TSE: UDI) today announced that, in connection with an offering by SPX Corporation (NYSE: SPW) of 20-year Liquid Yield Option(TM) Notes (LYONs), SPX will circulate an offering memorandum that will address United Dominion's preliminary first quarter results.
United Dominion has consented to the
disclosure regarding it in the offering memorandum, which includes the
Revenues in the first quarter were approximately 2.6% lower than the prior
year revenues of $558.5 million, excluding divested businesses. As discussed in management's discussion and analysis included in the company's 2000 Annual Report, the decrease in revenues is primarily due to a general softening in the U.S. economy which impacted certain businesses, most notably Marley Cooling Tower and Waukesha Cherry-Burrell in the Flow Technology Segment; Dock Products in the Specialty Engineered Products Segment; and BOMAG's U.S. operations in the Machinery Segment.
Source: SPX Corporation