BRIEF: Modine reports second-quarter loss

Thu. October 29, 2009; Posted: 03:22 PM

Look up the PowerRating of MOD and see how it has performed over the past week as well as the current proprietary PowerRating.

Oct 29, 2009 (Milwaukee Journal Sentinel - McClatchy-Tribune Information Services via COMTEX) -- MOD | Quote | Chart | News | PowerRating -- Modine Manufacturing Co., (MOD) the Racine-based maker of engine radiators and other heating and cooling equipment, reported a second-quarter loss of $4.9 million, or 15 cents per share, compared with a loss of $12.9 million, or 40 cents per share, in the same period a year ago.

Modine said sales in the quarter fell 28% to $282.3 million from $390.5 million a year earlier.

In a news release, Thomas Burke, president and CEO said: "During the quarter we completed a public offering of our common stock and used the proceeds to significantly reduce net debt. As we move into the second half of fiscal 2010, we are encouraged by the sales trends in our business and the early signs of stabilization and selective, modest improvements within our end markets."

Modine has scheduled a conference call at 10:30 a.m. to discuss its quarterly results. The call can be accessed on the Web at modine.com.

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For full details on Modine Manufacturing Co (MOD) click here. Modine Manufacturing Co (MOD) has Short Term PowerRatings of 5. Details on Modine Manufacturing Co (MOD) Short Term PowerRatings is available at This Link.

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