Printer Friendly

DWG CORPORATION ANNOUNCES RESULTS

 DWG CORPORATION ANNOUNCES RESULTS
 MIAMI, March 16 /PRNewswire/ -- DWG Corporation (AMEX: DWG)


announced today results of operations for the quarter and nine months ended Jan. 31, 1992.
 Revenues in the three months ended Jan. 31, 1992 were $339 million compared to $320 million in the same period of the prior year. While operating profit increased to $26.9 million from $18.3 million, non- operating expenses (net) also increased to $28.6 million from $27.8 million, and the company had a net loss of $1.4 million or $.05 per share (primary and fully diluted) compared to a net loss of $5.9 million or $.23 per share (primary and fully diluted) in the same quarter of the prior fiscal year.
 Revenues in the nine months ended Jan. 31, 1992 were $945 million compared to $918 million in the same period of the prior year. While operating profit increased to $62.1 million from $50.5 million, non- operating expenses (net) also increased to $68.8 million from $58.4 million, and the company had a net loss of $9.1 million or $.35 per share (primary and fully diluted) compared to a net loss of $7.7 million or $.30 per share (primary and fully diluted) in the same period of the prior year.
 DWG CORPORATION AND SUBSIDIARIES
 (Unaudited)
 Three Months Ended Nine Months Ended
 Jan. 31, Jan. 31,
 1992 1991 1992 1991
 (In thousands except per share amounts)
 Revenues $338,915 320,057 944,760 917,707
 Costs and expenses 311,966 301,803 882,667 867,187
 Operating profit 26,949 18,254 62,093 50,520
 Other expense, net 28,598 27,762 68,828 58,411
 Loss before
 income taxes and
 extraordinary item (1,649) (9,508) (6,735) (7,891)
 Provision for
 (benefit from)
 income taxes (390) (2,757) 568 (519)
 (1,259) (6,751) (7,303) (7,372)
 Minority interests
 in net (earnings) losses (116) 1,685 (1,847) (336)
 Loss before
 extraordinary item (1,375) (5,066) (9,150) (7,708)
 Extraordinary item -- reversal of
 utilization of operating losses
 carried forward, net of
 minority interests -- (834) -- --
 Net loss $ (1,375) (5,900) (9,150) (7,708)
 Loss per share:
 Primary and fully diluted:
 Before extraordinary item $ (.05) (.20) (.35) (.30)
 Extraordinary item -- (.03) -- --
 $ (.05) (.23) (.35) (.30)
 Average primary shares
 outstanding 25,862 25,853 25,861 25,852
 -0- 3/16/91
 /CONTACT: Charles Nolan, vice president of DWG Corporation, 305-866-7771/
 (DWG) CO: DWG Corporation ST: Florida IN: SU: ERN


JJ-AW -- FL017 -- 8522 03/16/92 17:49 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:Mar 16, 1992
Words:429
Previous Article:GITANO GROUP REPORTS LOSS FROM OPERATIONS AND RESTRUCTURING IN 1991; TO ACCELERATE RESTRUCTURING; WILL RETURN TO PROFITABILITY
Next Article:OSHA CITES TAMPA, FLA., MANUFACTURER, PROPOSES $235,600 PENALTY


Related Articles
DWG CORPORATION ANNOUNCES RESULTS
DWG CORPORATION ANNOUNCES FINAL RESULTS OF ITS ANNUAL MEETING OF SHAREHOLDERS
DWG CORPORATION ANNOUNCES CIRCUIT COURT ENTERS STAY
DWG CORPORATION ANNOUNCES DIVIDENDS
DWG CORPORATION ANNOUNCES RESULTS
DWG CORPORATION REPORTS RESULTS
DWG SPECIAL SHAREHOLDER MEETING RESCHEDULED FOR APRIL 13, 1993
DWG SPECIAL SHAREHOLDER MEETING RESCHEDULED FOR APRIL 13, 1993
DWG CORPORATION ANNOUNCES RESULTS
DWG CORPORATION ANNOUNCES RESULTS

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