The company said progress on adjusting costs in the defense business should improve its operating results by 1991.

Those estimates were based on assumptions of strong operating results at Case.

It said start-up costs for the unit would reduce operating results in the second half of the year.

"Yes, the operating results were not what I would have liked," he said.

What strategies are likely to help improve future operating results?

But some expressed disappointment with the company's operating results, which were not reported separately.

But past operating results give no hint of a surge in profits.

But in yesterday's announcement, the operating results were not included.

The effect of the change on 1989 operating results was not material.

Exchange differences are taken into account in arriving at the operating result.