ACM Government Spectrum Fund, Inc. Reports First Quarter Earnings.NEW YORK--(BUSINESS WIRE)--May 14, 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 Spectrum Fund, Inc. (NYSE NYSE See: New York Stock Exchange : SI), a registered closed-end investment company closed-end investment company: see mutual fund. , today announced earnings for the first quarter ended March 31, 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 March 31, 1999 were $251,178,907 compared with $261,294,212 on December December: see month. 31, 1998 and $266,627,307 on March 31, 1998. On March 31, 1999 the net asset value per share was $6.78 based on 37,028,027 shares of common stock outstanding. -0-
March 31, 1999 Dec. 31, 1998 March 31, 1998
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Total Net Assets $251,178,907 $261,294,212 $266,627,307
NAV Per Share $6.78 $7.06 $7.20
Shares Outstanding 37,028,027 37,028,027 37,028,027
-0- For the period January 1, 1999 through March 31, 1999, total net investment income was $4,648,819 or $0.13 per share. The total net realized and unrealized loss Unrealized Loss A loss that results from holding onto an asset rather than cashing it in and officially taking the loss. Notes: Let's say you own a stock that is down 50%, but you haven't sold it to realize the loss yet. This is said to be an unrealized loss. was ($8,135,232) or ($0.22) per share for the same period. -0-
First Quarter Fourth Quarter First Quarter
Ended Ended Ended
March 31, 1999 Dec. 31, 1998 March 31, 1998
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Total Net Investment
Income $4,684,819 $4,482,687 $4,715,796
Per Share $0.13 $0.12 $0.13
Total Net Realized/
Unrealized Gain (Loss) ($8,135,232) ($4,346,321) ($676,767)
Per Share ($0.22) ($0.12) ($0.02)
-0- ACM Government Spectrum Fund, Inc. is managed by Alliance Capital Management L.P. |
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