Printer Friendly

MERCOM REPORTS FIRST QUARTER RESULTS

 MERCOM REPORTS FIRST QUARTER RESULTS
 WILKES-BARRE, Pa., May 15 /PRNewswire/ -- Mercom, Inc.


(OTC Bulletin Board: MEROC) today reported a loss before income tax benefits of $518,000 for the first quarter of 1992 as compared to $860,000 for the first quarter of 1991.
 This improvement was due to increased sales and improved operating cost control. Mercom had sales of $2,876,000 and a loss from continuing operations of $518,000 for the first quarter of 1992, compared to sales of $2,686,000 and a loss from continuing operations of $577,000 for the same period in 1991. Earnings per average common share from continuing operations reflect a loss of $.22 for the first quarter of 1992, compared to a loss of $.24 for the same period last year.
 The company's liabilities exceed the book value of its assets by $11,676,000 at March 31, 1992. The company is presently reviewing options to restructure the company's debt and equity.
 Mercom provides cable television services to subscribers in southern Michigan and Port St. Lucie, Fla. Since December 1991, the company has been operating under the management of C-TEC Corporation (NASDAQ: CTEX), a diversified telecommunications company headquartered in Wilkes-Barre. Mercom is traded on NASD's Electronic Over-the-Counter Bulletin Board under the symbol MEROC.
 MERCOM, Inc.
 Consolidated Financial Data
 (Unaudited)
 Three months ended March 31 1992 1991
 Revenues $2,876,000 $2,686,000
 (Benefit) for income taxes --- (283,000)
 Net (loss) (518,000) (577,000)
 Earnings per average common share:
 Net (loss) $(.22) $(.24)
 Average common shares outstanding 2,393,530 2,393,530
 /delval/
 -0- 5/15/92
 /CONTACT: Carrie Thorpe, 717-825-1177, or Ralph Hromisin (finance), 717-825-1175, both of Mercom/
 (MEROC CTEX) CO: Mercom, Inc.; C-TEC Corporation ST: Michigan, Florida, Pennsylvania IN: ENT SU: ERN


LJ-KA -- PH037 -- 0926 05/15/92 16:28 EDT
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:May 15, 1992
Words:305
Previous Article:UNITED STATES ADVANCED BATTERY CONSORTIUM TO ANNOUNCE MID-TERM BATTERY CONTRACT MAY 19
Next Article:ZEUS COMPONENTS REPORTS SECOND QUARTER LOSS
Topics:


Related Articles
MERCOM REPORTS SECOND QUARTER RESULTS
MERCOM REPORTS SECOND QUARTER RESULTS
MERCOM REPORTS FIRST QUARTER RESULTS
MERCOM REPORTS SECOND QUARTER 1995 NET INCOME OF $0.03 PER SHARE VS. NET LOSS OF $0.01 PER SHARE
MERCOM REPORTS THIRD QUARTER 1995 NET INCOME OF $0.04 PER SHARE VS. NET LOSS OF $0.01 PER SHARE
MERCOM REPORTS YEAR-END AND FOURTH QUARTER RESULTS; INCREASES IN NET INCOME, AND SALES ON INCREASED SHARES OUTSTANDING
C-TEC REPORTS SIGNIFICANT GROWTH IN FIRST QUARTER OPERATING RESULTS; INCREASES ATTRIBUTED TO CORE CABLE TELEVISION AND TELEPHONE SEGMENTS
MERCOM REPORTS FIRST QUARTER 1996 EARNINGS
C O R R E C T I O N -- MERCOM, INC.
C-TEC Announces Record Second Quarter Results; EBITDA Increased 23%

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