U.S. Industries, Inc. Completes Restructuring of Bank Debts
August 29, 2001
Issue: 9/01 U.S. Industries, Inc. announced that it has completed the restructuring of its bank debt and the bank debt of Rexair Inc. The restructuring resets the final maturity dates of the U.S. Industries and Rexair credit facilities to November 30, 2002. Rexair was reacquired as part of the restructuring. U.S. Industries also reported its third-quarter fiscal 2001 results, including income from continuing operations of $13.6 million, or $.19 per diluted share, compared to $35.6 million, or $.44 per diluted share, for the prior year.