Printer Friendly

CHALLENGER INTERNATIONAL REPORTS RESULTS

 CHALLENGER INTERNATIONAL REPORTS RESULTS
 HAMILTON, Bermuda, Jan. 17 /PRNewswire/ -- Challenger International,


Ltd. reported a net loss of $641,000, equal to 15 cents per share, for the fiscal year ended Oct. 31, 1991. This compares with a loss of $1,870,000 or 43 cents per share in 1990. The 1991 results include a gain of $268,000 from discontinued operations. The loss for the year was a reflection of the continued recession in the U.S. which prevented sales growth and caused bad debt losses due to failed U.S. distributors.
 The company reported four significant and positive developments. First, Savage Arms achieved a turnaround in profitability, against the odds of its industry. Second, Passive Bullet Traps secured patent protection for its technology and design and commenced marketing activities. Third, sizable collections were realized on receivables and claims remaining from prior years' discontinued operations. Fourth, a corporate refinancing and recapitalization plan has been established for implementation during 1992.
 Challenger's Special Restricted Voting Shares are traded on NASDAQ (CSTIF) and the Toronto Stock Exchange (CTT). The Class A Restricted Voting Shares are traded on the Toronto Stock Exchange (CTTA).
 CHALLENGER INTERNATIONAL, LTD.
 (Dollar amounts in thousands, except per share data)
 Periods Ended Year Three Months
 Oct. 31 1991 1990 1991 1990
 Revenues $14,074 $13,285 $4,884 $2,748
 Loss from cont. opers. (910) (2,523) (263) (1,457)
 Income from discont. opers. 269 653 (101) nil
 Net income (loss) (641) (1,870) (364) (1,457)
 Per share net inc. (loss) (.15) (.43) (.09) .34
 Avg. shrs. outstanding 4,315,954 4,315,954 4,315,954 4,315,954
 -0- 1/17/92
 /CONTACT: Challenger International, 809-295-8639/
 (CSTIF) CO: Challenger International, Ltd. ST: IN: OIL SU: ERN


TS-PS -- NY003 -- 0875 01/17/92 09:17 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:Jan 17, 1992
Words:298
Previous Article:MICHAEL ANTHONY DEBUTS CONSUMER MEDIA AD FOR GOLD SPORTS JEWELRY; SPORTS MERCHANDISE SALES RISE 60 PERCENT IN CALENDAR 1991
Next Article:NASDAQ INTERNATIONAL TO OPEN AT 3:30 A.M. MONDAY, JAN. 20; HISTORIC STEP TO CREATE TRANSATLANTIC MARKET


Related Articles
/C O R R E C T I O N -- CHALLENGER INTERNATIONAL, LTD./
CHALLENGER INTERNATIONAL REPORTS FIRST QUARTER RESULTS
CHALLENGER INTERNATIONAL REPORTS RESULTS
CHALLENGER INTERNATIONAL REPORTS THIRD QUARTER RESULTS
CHALLENGER INTERNATIONAL REPORTS RESULTS
CHALLENGER INTERNATIONAL, LTD., REPORTS FIRST QUARTER RESULTS
CHALLENGER INTERNATIONAL, LTD. REPORTS SECOND QUARTER EARNINGS
CHALLENGER INTERNATIONAL, LTD., REPORTS THIRD QUARTER RESULTS
OCTOBER LAYOFFS SURGE 37 PERCENT; NEARLY 3,200 DAILY
CHALLENGER INTERNATIONAL REPORTS FOURTH QUARTER EPS OF US$0.05 BEFORE NON-RECURRING EXPENSES AND NON-CASH TAX ACCRUAL

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters