ACM Government Spectrum Fund, Inc. reports first quarter earnings.NEW YORK--(BUSINESS WIRE)--May 15, 1997--ACM 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, 1997. 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, 1997 were $252,656,733 compared with $265,247,940 on December 31, 1996 and $260,674,204 on March 31, 1996. On March 31, 1997 the net asset value per share was $6.82 based on 37,028,027 shares of common stock outstanding. March 31, 1997 December 31, 1996 March 31, 1996 Total Net Assets $252,656,733 $265,247,940 $260,674,204 NAV See navigation system and navigation bar. per Share $6.82 $7.16 $7.04 Shares Outstanding 37,028,027 37,028,027 37,028,027 For the period January 1, 1997 through March 31, 1997, total net investment income was $4,848,112 or $.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 ($11,329,785) or ($.31) per share for the same period. First Quarter Fourth Quarter First Quarter Ended Ended Ended March 31, 1997 December 31, 1996 March 31, 1996 Total Net Investment Income $4,848,112 $5,304,949 $5,317,752 Per Share $0.13 $0.14 $0.14 Total Net Realized/ Unrealized Gain (Loss) ($11,329,785) $7,447,897 ($14,339,322) Per Share ($0.31) $0.20 ($0.38) 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. is managed by Alliance Capital Management L.P. CONTACT: Shareholder Contact: 1-800-221-5672 Media Contact Only: Duff Ferguson 212-969-1056 |
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