Alpha Hospitality Reports First Quarter Results.NEW YORK--(BUSINESS WIRE)--May 14, 1999-- Alpha Hospitality Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ALHY ALHY Alpha Hospitality Corporation (stock symbol; previously ALH) ; BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). : ALH ALH Advanced Light Helicopter ALH Amplitude of Lateral Head (Displacement) ALH Alpha Hospitality Corporation (former stock symbol; now ALHY) ALH Advanced Liquid Hydrogen ; WARRANTS: BSE: ALHW) (the "Company"), which is operating as a holding company and a vehicle to effect acquisitions, today reported results for the quarter ended March 31, 1999. The results reflect the general and administrative expenses related to the pursuit of potential new business opportunities.
Alpha Hospitality Corporation and Subsidiaries
Summary Balance Sheet Data
March 31, 1999
(in thousands)
Cash $2,925
Total current assets 3,130
Net property and equipment 4,619
Other assets 1,639
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Total asset $9,388
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Total current liabilities $3,438
Total long-term liabilities 1,282
Total shareholders' equity 4,669
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Total liabilities and equity $9,388
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Alpha Hospitality Corporation and Subsidiaries
Summary Consolidated Statements of Operations
(in thousands, except per share data)
Quarter Ended March 31,
1999 1998
Revenues $ 43 $ 5,054
Costs and expenses (538) (6,722)
Other loss 0 6,348
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Loss before deferred income
(tax) benefit (495) 4,680
Deferred income (tax) benefit 0 (6,375)
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Net loss (495) (1,695)
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Net earnings (loss) per share,
Common and diluted $ (0.03) $ 0.12
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To the extent the content of this press release includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , they involve risks and uncertainties that are described from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1994, and as such, speak only as of the date made. This release is available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Website at www.kcsa.com |
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