BUFFTON ANNOUNCES FIRST QUARTER PROFITS
BUFFTON ANNOUNCES FIRST QUARTER PROFITS FORT WORTH, Texas, Jan. 29 /PRNewswire/ -- Robert H. McLean,
chairman of the board and president of Buffton Corporation (AMEX: BFX), announced today net income of $194,000, or $.05 per share on revenues of $12,935,000 for the first quarter ended Dec. 31, 1991. For the same period last year, the net loss was $402,000, or $.10 per share on revenues of $22,913,000.
In making the announcement, McLean stated, "All of our subsidiaries are operating profitably. The positive results of the current quarter are a reflection of a number of actions taken over the past 12 months to reduce expenses, consolidate certain operations and sell assets to reduce debt. Our companies have been able to show improvement in spite of the continuing depressed state of the economy." BUFFTON CORPORATION Earnings Summary (In thousands, except per share amounts) (Unaudited) Period ended Quarter Dec. 31, 1991 1990 Net revenues $12,935 $22,913 Net income (loss) 194 (402) Net income (loss) per average common share .05 (.10) Buffton Corporation is a diversified group of companies engaged in the manufacture of avionic, electronic, and plastic products. -0- 1/29/92 /CONTACT: Robert Korman, vice president and chief financial officer of Buffton, 817-332-4761/ (BFX) CO: Buffton Corporation ST: Texas IN: SU: ERN SH -- NY068 -- 4865 01/29/92 15:45 EST
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|Date:||Jan 29, 1992|
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