Printer Friendly

DAILY NEWS SUBMITS FINANCIAL REPORTS

 DAILY NEWS SUBMITS FINANCIAL REPORTS
 NEW YORK, Feb. 20 /PRNewswire/ -- The Daily News today submitted


financial reports covering the period from Dec. 5, 1991, the date of bankruptcy filing, through Feb. 2, 1992, as required by the U.S. Bankruptcy Court.
 The news reported cash on hand of $9,802,000 at the end of January, an increase of $2,276,000 since the end of December. The improvements in cash position was primarily attributed to collection of accounts receivable generated in December.
 The filing also reported an operating loss of $2,453,000 during January. Due to seasonality in the newspaper business, January's losses were anticipated.
 However, losses from operations since the Dec. 5 bankruptcy filing have been lower than projected by News management and their financial advisors due to greater than expected cost reductions.
 -0- 2/20/92
 /CONTACT: John Campi of The Daily News, 212-210-1925/ CO: Daily News ST: New York IN: PUB SU:


AH-KW -- NY098 -- 1175 02/20/92 18:01 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:Feb 20, 1992
Words:166
Previous Article:AUTOFINANCE GROUP INC. ANNOUNCES SUCCESSFUL COMPLETION OF EXCHANGE OFFER AND SECOND QUARTER EARNINGS
Next Article:NEW YORK STOCK EXCHANGE CLOSING, THURSDAY, FEB. 20 /PRN/
Topics:


Related Articles
DIRECTOR RESIGNS FROM BOARD OF MAXWELL NEWSPAPERS
DAILY NEWS RETAINS SALOMON BROTHERS AS FINANCIAL ADVISOR
CBS MarketWatch.com to Make Print Debut.
New Categories Announced for the Financial Writers and Editors Awards.
Financial Writers and Editors Awards; Publication Deadline: June 30, 2002; Submissions Due: August 1, 2002.
Deadline Extended; Financial Writers and Editors Awards; Publication Deadline: June 30, 2002; Revised Submissions Due Date: August 8, 2002; $2,500 to...
BRIEFS.
First Sino Bank plans to raise capital to CNY3bn.
Dexia board shelves sale of asset management arm.
Macquarie to open bank branch in South Korea.

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