Chester Holdings announces 1st quarter results.CHESTER Chester, city and district, England Chester, city (1991 pop. 80,154) and district, Cheshire, W central England, on a sandstone height above the Dee River. It is a railroad junction. Manufactures include electrical equipment, paint, and window panes. , N.J.--(BUSINESS WIRE)--Jan. 25, 1995--Chester Holdings announces results for the 1st quarter. Revenues for the 1st quarter ending Sept. 30, 1994 were $3,037,347 vs. 0 for the same period in 1993. Earnings for the same period were a loss of $2,014,489 or (.08) cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. vs. a loss of $445,799 or (.23) cents a share for the previous years 1st quarters. Losses for the first quarter include approximately $1.5 million in non-recurring expenses. On an operating basis the company's loss for the first quarter was approximately $500,000 or approximately (.015 cents). Michael Michael, archangel Michael (mī`kəl) [Heb.,=who is like God?], archangel prominent in Christian, Jewish, and Muslim traditions. In the Bible and early Jewish literature, Michael is one of the angels of God's presence. F. O'Shea Oshea can be a variant of the name Joshua. O'Shea is a common surname and could refer to:
n. A road that winds along the side of a steep coast or cliff. [Short for French route en corniche : route, road + en, on + corniche, Distribution. Upon finalization Writing the table of contents (TOC) on a recordable CD or DVD disc. The finalization process ensures that the disc can be played back on most CD and DVD players. See disc-at-once. of contracts with Corniche it is the intent of the company to restate re·state tr.v. re·stat·ed, re·stat·ing, re·states To state again or in a new form. See Synonyms at repeat. re·state the quarter to include these results." For the period ended Sept. 30, 1994, Corniche had revenues of approximately $3.6 million and a nominal loss. On a consolidated basis revenues for the first quarter would be approximately $6,600,000 and losses would have remained approximately the same. O'Shea continued, "We believe most of our 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). efforts have been completed and look forward to continuing our operational growth begun in 1994." -0-
CHESTER HOLDINGS, LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED SEPT. 30, 1994 AND 1993
(Unaudited)
1994 1993
$ $
NET SALES 3,037,347 0 COSTS AND EXPENSES COST OF SALES 1,735,123 - SELLING, GENERAL AND ADMINISTRATIVE 3,075,537 427,592 DISCOUNT-LEVELLAND NOTE RECEIVABLE 193,320 - INTEREST EXPENSE 71,013 50,125 DEPRECIATION AND AMORTIZATION 74,574 - TOTAL COSTS AND EXPENSES 5,149,567 477,717 OTHER INCOME RENTAL INCOME 7,466 30,918 INTEREST INCOME 3,008 - MISCELLANEOUS INCOME 87,257 - TOTAL OTHER INCOME/ EXPENSE 97,731 30,918 NET (LOSS) ($2,014,489) ($446,799) (LOSS) PER SHARE - - NET (LOSS) PER SHARE ($0.08) ($0.23) WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 25,729,117 1,977,997 -0- CONTACT: Chester Holdings Ltd. Michael F. O'Shea, 908/879-9002 |
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