ACM Government Income Fund, Inc. Reports Second Quarter Earnings.NEW YORK--(BUSINESS WIRE)--Aug. 13, 1999-- ACM (Association for Computing Machinery, New York, www.acm.org) A membership organization founded in 1947 dedicated to advancing the arts and sciences of information processing. In addition to awards and publications, ACM also maintains special interest groups (SIGs) in the computer field. Government Income Fund, Inc. (NYSE NYSE See: New York Stock Exchange :ACG ACG American College of Gastroenterology; angiocardiography; apexcardiogram. AcG accelerator globulin (coagulation factor V). AcG accelerator globulin (clotting factor V). ), a registered closed-end investment company closed-end investment company: see mutual fund. , today announced earnings for the second quarter ended June June: see month. 30, 1999. Total net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. of the Fund on June 30, 1999 were $465,795,714 compared with $479,919,426 on March 31, 1999 and $579,207,717 on June 30, 1998. On June 30, 1999 the net asset value per share was $7.96 based on 58,511,228 shares of common stock outstanding. -0-
June 30, 1999 March 31, 1999 June 30, 1998
------------- -------------- -------------
Total Net Assets $465,795,714 $479,919,426 $579,207,717
NAV Per Share $7.96 $8.22 $9.99
Shares Outstanding 58,511,228 58,374,454 58,004,726
For the period April 1, 1999 through June 30, 1999, total net
investment income was $12,057,356 or $0.21 per share. The total net
realized and unrealized loss was ($14,149,607) or ($0.24) per share
for the same period.
Second Quarter First Quarter Second Quarter
Ended Ended Ended
June 30, 1999 March 31, 1999 June 30, 1998
------------- -------------- -------------
Total Net Investment
Income $12,057,356 $11,258,304 $13,263,568
Per Share $0.21 $0.19 $0.23
Total Net Realized/
Unrealized (Loss) ($14,149,607) ($30,781,693) ($38,617,448)
Per Share ($0.24) ($0.53) ($0.67)
ACM Government Income Fund, Inc. is managed by Alliance Capital
Management L.P.
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