Printer Friendly

REVENUE DECLINE AND EARNINGS INCREASE FOR DETROIT & CANADA TUNNEL CORPORATION IN THE FIRST QUARTER

 REVENUE DECLINE AND EARNINGS INCREASE FOR DETROIT & CANADA TUNNEL
 CORPORATION IN THE FIRST QUARTER
 DETROIT, March 13 /PRNewswire/ -- The Detroit & Canada Tunnel Corporation (NASDAQ: DTUN) today reported an increase in earnings for the first quarter, which ended January 1992.
 Revenue for the quarter was $2,021,803 down 4.5 percent as compared to revenues of $2,116,878 for the first quarter of fiscal 1991. Net income increased to $539,309, or $.75 per share, from $370,325, or $.51 per share, from the same period last year.
 The change in revenue was due to the lower current interest rates on the company's short-term investments. The change in net income was due primarily to the net operating loss carry forward which significantly reduced the current provision for income taxes.
 -0- 3/13/92
 /CONTACT: David C. Canavesio, vice president - Finance, Detroit & Canada Tunnel Corporation, 313-567-4422/
 (DTUN) CO: Detroit & Canada Tunnel Corporation ST: Michigan IN: TRN SU: ERN


SB -- DE009X -- 7706 03/13/92 09:50 EST
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:Mar 13, 1992
Words:167
Previous Article:CIGNA COMPANIES AND AIM MANAGEMENT GROUP IN STRATEGIC ALLIANCE
Next Article:SAFECARD SERVICES FIRST QUARTER 1992 REVENUE AND EARNINGS


Related Articles
DETROIT & CANADA TUNNEL CORPORATION REPORTS REVENUE DECLINE AND EARNINGS INCREASE IN THE FOURTH QUARTER
DETROIT & CANADA TUNNEL ANNOUNCES REVISED FIRST-QUARTER EARNINGS
DETROIT & CANADA TUNNEL CORP. ANNOUNCES SECOND-QUARTER EARNINGS
DETROIT & CANADA TUNNEL CORPORATION REPORTS THIRD-QUARTER EARNINGS
DETROIT & CANADA TUNNEL CORPORATION REPORTS EARNINGS
DETROIT & CANADA TUNNEL CORPORATION ANNOUNCES FIRST-QUARTER EARNINGS
DETROIT & CANADA TUNNEL CORPORATION REPORTS EARNINGS
DETROIT & CANADA TUNNEL CORPORATION ANNOUNCES THIRD-QUARTER EARNINGS
DETROIT & CANADA TUNNEL CORPORATIONREPORTS FIRST QUARTER EARNINGS
DETROIT & CANADA TUNNEL CORPORATION ANNOUNCES FIRST QUARTER EARNINGS

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