Universal Heights, Inc. Results Positive for First Quarter 1999; Company Reports Earnings of $.03 Per Share and Fifth Consecutive Profitable Quarter.AVENTURA, Fla.--(BUSINESS WIRE)--May 17, 1999-- Universal Heights, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:UHTS UHTS Ultrahigh-Throughput Screening (Pharmaceutical Industry) UHTS Universal Hydraulic Test Stand ) today reported net income of $519,109 or $.03 per share on a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis on revenues of $2,975,212 for the three months ended March 31, 1999. During the three months e the Florida Joint Underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. Association's taa managing general agency as well as commencemeended Dec. 31, 1999 for a discussion of the riset investment income 145,603 92,117 Commission revenue 374,093 -- Other income 4,705 3,065 Total revenues 2,975,212 896,772 OPERATING COST AND EXPENSES: Losses and loss adjustment expenses 1,063,397 310,932 General and administrative expenses 1,392,706 14,673,000 14,615,834 INCOME PET |
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