EARNINGS REPORTS: CALABASAS LENDER POSTS GROWTH.Byline: Deborah Adamson Daily News Staff Writer Countrywide coun·try·wide adv. & adj. Throughout a whole country; nationwide: launched a fundraising campaign countrywide; a countrywide search. Adj. 1. Credit Industries reported a boom in its business for August while House of Fabrics and Autologic Information International recorded mixed earnings for the summer quarter. Countrywide, a Calabasas-based mortgage lender and servicer, funded $3.8 billion in loans for August with an additional $6 billion being processed. A year ago, $3 billion were funded with $4.3 billion in the pipeline. The loan servicing Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services. business also surged, reaching $169 billion last month, 14 percent higher than a year ago. House of Fabrics, a Sherman Oaks-based retailer, lost $5.9 million ($1.12 a share) for the second quarter ended July 31 compared with a net income of $69.5 million a year ago. Last year's results included a one-time gain of $100.9 million, to account for debt that was erased e·rase tr.v. e·rased, e·ras·ing, e·ras·es 1. a. To remove (something written, for example) by rubbing, wiping, or scraping. b. after the retailer emerged from Chapter 11 bankruptcy. It also included a $26.4 million charge related to store closing and restructuring expenses. Excluding the extraordinary gain and charge, House of Fabrics performed slightly worse this past quarter against 1996. Earnings-per-share data before the bankruptcy cannot be compared to the period after Chapter 11, hence there is no figure for last year's second quarter. Revenue reached $50.2 million compared with $54.8 million a year ago. Autologic Information International, a Thousand Oaks-based maker of electronic prepress The use of computers to prepare camera-ready materials up to the actual printing stage. It includes drawing, page makeup and typesetting, all performed electronically rather than by drafting or mechanical cut and paste methods. systems for publishers, reported a net income of $825,000 (14 cents) on sales of $22.3 million for the third quarter ended Aug. 1. Last year, the company recorded a net loss of $678,000 (12 cents) on revenues of $21.5 million. Improved gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. , strong sales and lower operating costs operating costs npl → gastos mpl operacionales helped boost earnings. |
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