Printer Friendly

CAPITAL ASSOCIATES REPORTS SECOND FISCAL QUARTER 1992 RESULTS

 CAPITAL ASSOCIATES REPORTS SECOND FISCAL QUARTER 1992 RESULTS
 LAKEWOOD, Colo., Jan. 14 /PRNewswire/ -- Capital Associates, Inc. (NASDAQ-NMS: CAII), an asset management and financial services company, announced today that it is reporting a loss of approximately $3.8 million ($0.43 per share) on revenues of approximately $22.2 million for the second quarter of fiscal 1992 ended November 30, 1991. This compares to a loss of approximately $3.8 million ($0.42 per share) on revenues of $32.5 million for the second quarter of fiscal 1991 ended November 30, 1990 and a loss of approximately $4.5 million ($0.51 per share) on revenues of approximately $23.1 million for the first quarter of fiscal 1992 ended August 31, 1991. The second fiscal quarter loss includes a provision for losses of approximately $1.9 million as a result of continued deterioration of resale markets for IBM main-frame and DEC computers and the unfavorable resolution of a sales tax audit. The quarter also included a gain of approximately $1.7 million on the sale of the Company's investment in Corporate Express, Inc.
 "The bottom line results were expected," said Dennis Lacey, Capital Associates' Chief Executive Officer, "however, portfolio returns were less than plan, offset by a gain on the sale of our investment in Corporate Express, an office supply company. We have been recruiting marketing personnel and making other changes in that area of our business to position ourselves for improved portfolio returns."
 Capital Associates, Inc., an equipment leasing and asset management company, is principally engaged in (1) buying, selling, leasing and remarketing new and used equipment, (2) managing equipment on and off-lease, (3) sponsoring, co-sponsoring, managing and co- managing publicly-registered income funds, and (4) arranging equipment-related financing.
 -0- 1/14/92
 /CONTACT: Corporate Communications of Capital Associates, 303-980-1000/
 (CAII) CO: Capital Associates, Inc. ST: Colorado IN: FIN SU: ERN


BB -- DV002 -- 9392 01/14/92 09:04 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 14, 1992
Words:319
Previous Article:MELLON: PITTSBURGH INDEX SLIPS IN NOVEMBER
Next Article:HORIZON BANK THIRD-QUARTER EARNINGS INCREASE 20 PERCENT; BANK OPENS NEW HOME LOAN OFFICE
Topics:


Related Articles
CAPITAL ASSOCIATES REPORTS THIRD FISCAL QUARTER 1992 RESULTS
CAPITAL ASSOCIATES REPORTS FISCAL 1992 YEAR END RESULTS
CAPITAL ASSOCIATES REPORTS SECOND CONSECUTIVE PROFITABLE QUARTER
CAPITAL ASSOCIATES ANNOUNCES THIRD CONSECUTIVE PROFITABLE QUARTER
CAPITAL ASSOCIATES ANNOUNCES PROFIT FOR FISCAL 1993
CAPITAL ASSOCIATES REPORTS FIFTH CONSECUTIVE PROFITABLE QUARTER
CAPITAL ASSOCIATES ANNOUNCES PROFIT FOR FISCAL 1994
CAPITAL ASSOCIATES REPORTS TENTH CONSECUTIVE PROFITABLE QUARTER
CAPITAL ASSOCIATES REPORTS FOURTEENTH CONSECUTIVE PROFITABLE QUARTER
Capital Associates, Inc. Announces Second Quarter 1997 Net Earnings of $0.05 per Common Share on Revenue of $69.6 Million

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters