Printer Friendly

RADIX VENTURES REPORTS RESULTS

 RADIX VENTURES REPORTS RESULTS
 NEW YORK, June 12 /PRNewswire/ -- Radix Ventures, Inc. today


announced the unaudited consolidated results of the company and its subsidiaries for the three and nine months ended April 30, 1992.
 Net fees and commissions for the third quarter increased by 7.2 percent from the prior year as a result of the revenues derived from new offices in Boston, Charleston, S.C. and Richmond, Va., and an increase in the volume of import and export transactions in other locations.
 Operating expenses for the quarter increased 3.1 percent from the prior year due to the additional operating expenses related to new offices noted above. Excluding the expenses related to the new offices, operating expenses actually declined by .9 percent as a result of cost containment programs.
 RADIX VENTURES, INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 Period ended Three months Nine months
 April 30 1992 1991 1992 1992
 Gross billings $91,048,416 $71,859,781 $279,750,075 $257,134,857
 Less duty, freight
 and other direct
 costs 83,552,868 64,867,830 258,121,406 235,786,493
 Net fees and
 commissions 7,495,548 6,991,951 21,628,669 21,348,364
 Operating exps. 7,044,316 6,829,730 20,970,648 20,722,876
 Operating income/
 (loss) 451,232 162,221 658,021 625,488
 Interest expense,
 net (72,145) (75,541) (209,360) (252,179)
 Equity in loss of
 unconsolidated foreign
 subsidiary (28,458) -- (89,207) --
 Income/(loss) before
 income taxes 350,629 86,680 359,454 373,309
 Income tax charge/
 (credit) 129,269 56,111 152,994 170,763
 Total 221,360 30,569 206,460 202,546
 Net income per share
 (based on 771,500
 shares outstanding) 0.29 0.04 0.27 0.26
 -0- 6/12/92
 /CONTACT: Pierre L. Schoenheimer, chairman of Radix Ventures, 212-697-9141/ CO: Radix Ventures, Inc. ST: New York IN: SU: ERN


TS-OS -- NY018 -- 9592 06/12/92 10:11 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:Jun 12, 1992
Words:331
Previous Article:DORCHESTER HUGOTON ANNOUNCES CASH DISTRIBUTION
Next Article:BASE TEN SYSTEMS ANNOUNCES INCREASED PROFITABILITY AND FURTHER DEBT REDUCTION IN LATEST SECOND QUARTER AND SIX MONTHS
Topics:


Related Articles
RADIX VENTURES REPORTS EARNINGS
RADIX VENTURES, INC. REPORTS RESULTS
RADIX VENTURES, INC. REPORTS RESULTS
RADIX ANNOUNCES STEPHENS GROUP BECOMES LIMITED PARTNER
RADIX VENTURES, INC. REPORTS RESULTS
RADIX VENTURES REPORTS FINANCIAL RESULTS
RADIX VENTURES ANNOUNCES TERMINATION OF AGREEMENT WITH STEPHENS GROUP
COMERICA ANNOUNCES SALE OF JOHN V. CARR & SON, INC.
Radix Wireless Announces Closing of $13M First Round of Venture Funding.
Radix Marine, Inc. Signs Letter of Intent To Acquire The Radix Ortega Group, Inc.

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