TRANS NATIONAL LEASING, INC. ANNOUNCES EARNINGS
TRANS NATIONAL LEASING, INC. ANNOUNCES EARNINGS DALLAS, May 15 /PRNewswire/ -- Trans National Leasing, Inc.
(NASDAQ: TNLS) today reported net earnings of $36,241, or 3 cents per share, on revenues of $1,734,119 for the fiscal third quarter ended March 31, 1992, compared to a net loss of $28,821, or 2 cents per share, on revenues of $1,901,286 for the same quarter of fiscal 1991. Net earnings for the nine months ended March 31, 1992, were $180,659, or 13 cents per share, compared to a net loss of $76,748, or 5 cents per share, in the same period a year ago. Revenues for the most recent nine-month period were $5,419,227, compared to $5,614,719 a year ago.
John Maher, president, commented that the improvement in fiscal 1992 results is the result of lower Alternate Minimum Taxes (AMT) due to the reversal of timing differences upon sale of some of the units purchased after the enactment of the 1986 Tax Act. Revenues decreased primarily due to generally lower interest rates and a lower volume of 1992 model orders. Orders and deliveries of 1992 models trail those of last year by approximately 14 percent, Maher said, adding, "We expect the rest of our year to continue generally to mirror the health of the U.S. and economy and, more particularly, the Southwest's economy." Three months ended March 31: 1992 1991 Revenues $1,734,119 $1,901,286 Net income (loss) 36,241 (28,821) Per share .03 (.02) Nine months ended March 31: 1992 1991 Revenues $5,419,227 $5,614,719 Net income (loss) 180,659 (76,748) Per share .13 (.05) Weighted average shares outstanding 1,435,826 1,435,826 -? 5/15/92 /CONTACT: John Maher, president of Trans National Leasing, Inc., 214-233-6806, or Larry Howell of Howell Communications, Inc., 214-340-9994, for Trans National Leasing/ (TNLS) CO: Trans National Leasing Inc. ST: Texas IN: SU: ERN
AH -- NY082 -- 0840 05/15/92 14:57 EDT
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|Date:||May 15, 1992|
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