Printer Friendly

DART GROUP CORPORATION ANNOUNCES SALES

 DART GROUP CORPORATION ANNOUNCES SALES
 LANDOVER, Md., Sept. 11 /PRNewswire/ -- Herbert H. Haft, chairman of


the board of directors of Dart Group Corporation (NASDAQ: DARTA), today announced net income for the three months and six months ended July 31, 1992, was $699,000 or $.38 per share and $3,124,000 or $1.71 per share, respectively, compared with $2,542,000 or $1.40 per share and $1,988,000 or $1.09 per share for the same periods last year.
 Net income for the three months and six months ended July 31, 1992, was affected by an extraordinary gain of $497,000, net of minority interest, resulting from the tax effect of a net operating loss carryforward for Trak Auto, an extraordinary loss of $885,000 resulting from the early redemption of Dart's remaining debentures and an unusual item recognizing a $1,393,000 gain from partial settlement of insurance claims for Trak Auto.
 Revenue for the three months increased to $314,463,000 from $307,655,000 and for the six months to $614,876,000 from $575,131,000 when compared with the same periods last year.
 Dart owns approximately 53 percent of Crown Books, 68 percent of Trak Auto, 50 percent of Shoppers Food Warehouse and 100 percent of Dart Group Financial and Cabot-Morgan Real Estate Company.
 Shoppers Food Warehouse operates 33 stores in the Washington, D.C. metropolitan area. Crown Books operates 250 book stores in the Washington, D.C. area; California; Houston; Chicago; and Seattle. Trak Auto operates 315 auto parts stores in the Washington, D.C.; Baltimore; Richmond, Va.; Chicago; and Los Angeles metropolitan areas. Cabot- Morgan operates shopping centers in the Washington, D.C. metropolitan area.
 DART GROUP CORPORATION
 (in thousands except per share data)
 Periods ended Three Months Six Months
 July 31 1992 1991 1992 1991
 Revenue $314,463 $307,655 $614,876 $575,131
 Inc. bef. extraord.
 items 1,087 2,542 3,512 1,988
 Extraordinary items:
 Loss from reacquisition
 of debentures (885) -- (885) --
 Reduction of inc. taxes
 arising from Trak Auto's
 carryforward of net
 operating loss, net of
 minority interest 497 -- 497 --
 Net income $ 699 $ 2,542 $ 3,124 $ 1,988
 Earnings per common
 share and common share
 equivalents:
 Income before extraord.
 items $ .59 $1.40 $1.92 $1.09
 Extraordinary items:
 Loss from reacquisition
 of debentures (.48) -- (.48) --
 Reduction of income taxes
 arising from Trak Auto's
 carryforward of net
 operating loss, net of
 minority interest .27 -- .27 --
 Net income $ .38 $1.40 $1.71 $1.09
 Weighted avg. shares
 outstanding 1,831 1,820 1,832 1,831
 Dividends per share
 of Class A common
 stock $.033 $.033 $.066 $.066
 -0- 9/11/92 R
 /CONTACT: Stanley Rubenstein, 212-297-6108, for Dart Group/
 (DARTA) CO: Dart Group Corporation ST: Maryland IN: REA SU:


KD-AH -- NY049 -- 8615 09/11/92 16:20 EDT
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:Sep 11, 1992
Words:475
Previous Article:TRAK AUTO CORPORATION ANNOUNCES EARNINGS
Next Article:ARVADA (COLO.) SALES TAX BONDS RATED 'A+', HIGHWAY BONDS 'A' BY FITCH -- FITCH FINANCIAL WIRE --
Topics:


Related Articles
DART GROUP ANNOUNCES EARNINGS
DART GROUP CORPORATION ANNOUNCES SALES
DART GROUP ANNOUNCES EARNINGS
DART GROUP CORPORATION ANNOUNCES EARNINGS
DART GROUP CORPORATION ANNOUNCES SALES
DART GROUP CORPORATION ANNOUNCES SALES
DART GROUP ANNOUNCES EARNINGS
DART GROUP ANNOUNCES EARNINGS
DART GROUP CORPORATION ANNOUNCES SALES
Dart Group Announces Earnings

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