Comdisco Announces Fiscal First Quarter Financial Results.Business Editors ROSEMONT, Ill.--(BUSINESS WIRE)--Feb. 14, 2003 Comdisco Holding Company, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CDCO CDCO Curriculum Design, Content and Organization CDCO Classified Document Control Office ) today reported financial results for its fiscal first quarter ended December 31, 2002. Comdisco emerged from Chapter 11 on August 12, 2002 and the reorganized re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. company previously reported financial results for the year ended September 30, 2002. Under its Plan of Reorganization, Comdisco's business purpose is limited to the orderly runoff Runoff The procedure of printing the end-of-day prices for every stock on an exchange onto ticker tape. Notes: If the "tape is late" then it can take a long time to print off all the closing prices. or sale of its remaining assets. Operating Results: For the three months ended December 31, 2002, Comdisco reported net income of approximately $9 million, or $2.09 per common share (basic and diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. ). Revenue for the period totaled $187 million. As a result of bankruptcy restructuring transactions, adoption of fresh-start reporting and multiple asset sales, Comdisco Holding Company's financial results are not comparable to those of its predecessor company, Comdisco, Inc. Please refer to the company's quarterly report on Form 10-Q Form 10-Q See 10-Q. filed on February 14, 2003, for complete financial statements. The per share results for Comdisco Holding Company are based on the 4.2 million shares of new common stock (OTC:CDCO) issued upon emergence from bankruptcy. Additional Information on Contingent Distribution Rights: The company is required to provide information to holders of contingent distribution rights (OTC:CDCOR) distributed to holders of the cancelled common stock of the predecessor company. The company's quarterly report on Form 10-Q discloses that the percentage recovery of former creditors holding class C-4 claims that have been allowed is approximately 75% through February 14, 2003. Please refer to the section titled "Contingent Distribution Rights" contained in the quarterly report on Form 10-Q for a complete discussion and important details. About Comdisco The purpose of reorganized Comdisco is to sell, collect or otherwise reduce to money in an orderly manner the remaining assets of the corporation. Rosemont, IL-based Comdisco (www.comdisco.com) provided equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. The foregoing contains 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. regarding Comdisco. They reflect the company's current views with respect to current events and financial performance, are subject to many risks, uncertainties and factors relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the company's operations and business environment which may cause the actual results of the company to be materially different from any future results, express or implied by such forward-looking statements. The company intends that such forward-looking statements be subject to the Safe Harbor created by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. "expect," "estimate," and "anticipate" and similar expressions identify forward-looking statements. Certain factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: uncertainties related to the company's bankruptcy plan of reorganization; the company's limited business purpose and the inherent uncertainty of its limited business plan; continuing volatility in the equity markets, which can affect the availability of credit and other funding sources to the high technology sector companies in the Ventures portfolio, resulting in the inability of those companies to satisfy their obligations in a timely manner and an increase in bad debt experience beyond current reserves; the company's significant exposures to companies in the telecommunications, electronics, and other high technology industries that have been severely negatively impacted by the recent economic downturn; exposure to customer concentration risk; and exposure to foreign exchange rate fluctuations. Other risk factors are listed from time to time in the company's SEC reports, including, but not limited to, the reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended September 30, 2002 and Form 10-Q for the quarter ended December 31, 2002. Comdisco disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. |
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