Advocat posts 1st quarter results.Reporting increased earnings, Franklin Franklin, cities, United States Franklin. 1 City (1990 pop. 12,907), seat of Johnson co., S central Ind., inc. 1823. It is a farm trade center. Manufactures include auto parts, aluminum doors and windows, and copper panels. , Tenn.-based Advocat recently made public its operating and financial results for the first quarter ended March 31, 2000. The company enjoyed earnings of $85,000 compared with a loss of $983,000 for the first quarter of 1999. The net earnings per share were $0.02 in this year's first quarter. Advocat experienced a per share loss of $0.18 in 1999. Advocat is currently not in compliance with the covenants of several of its debt agreements, including requirements of net worth, cash flow, and debt-to-equity ratio debt-to-equity ratio The relationship between long-term funds provided by creditors and funds provided by owners. A firm's debt-to-equity ratio is calculated by dividing long-term debt by owners' equity. Both items are shown on the balance sheet. . The company has begun negotiations with its lenders, discussing a possible restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). as well as refinancing Refinancing An extension and/or increase in amount of existing debt. alternatives. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion