Printer Friendly

EMONS HOLDINGS REPORTS FISCAL 1992 SECOND QUARTER RESULTS

 EMONS HOLDINGS REPORTS FISCAL 1992 SECOND QUARTER RESULTS
 YORK, Pa., Feb. 12 /PRNewswire/ -- Emons Holdings, Inc. (NASDAQ: EMHO) today announced a loss from continuing operations of $551,364 for fiscal 1992's second quarter ended Dec. 31, 1991, as compared to a loss of $556,609 for the three months ended Dec. 31, 1990.
 Including discontinued operations and preferred dividend requirements, the company recorded a loss applicable to common stock of $617,633 or $.12 per share for the fiscal 1992 second quarter as compared to a loss of $401,860, or $.08 per share, for the second quarter of fiscal 1991. Revenues increased to $2.78 million from $2.68 million.
 For the six-month period ended Dec. 31, 1991, the company reported a loss from continuing operations of $944,336, as compared to a loss of $1,132,735 for the six months ended Dec. 31, 1990. Including discontinued operations and preferred dividend requirements, the company had a loss applicable to common stock of $1,076,874, or $.21 per share, for the six months ended Dec. 31, 1991, as compared to a loss of $840,914, or $.17 per share, for the six months ended Dec. 31, 1990.
 Robert Grossman, chairman and president, stated that the results from continuing operations did not improve in the second quarter of fiscal 1992 because of a slackening of business in November and December and additional expenses incurred for a track rehabilitation program during the current quarter. The cost reductions instituted last year partially offset this additional expense.
 Grossman added that due to current economic conditions the company does not expect a significant increase in traffic levels on its railroads for the remainder of fiscal 1992. However, the company does expect a reduced operating loss for the balance of the year due to improvements in the rate structures for hauling of freight by its railroads and increased volume at its two rail/truck transload facilities. Further, the company has increased its sales and marketing activities and is continuing to explore the acquisition of additional short-line railroads.
 Emons Holdings, Inc., a freight transportation and distribution services company headquartered in York, owns and operates short-line railroads, rail/truck transload facilities and provides companies with logistic services for movement and storage of their freight.
 Emons Holdings' shares of common stock and convertible preferred stock are traded in the Over-the-Counter securities market and the common shares are listed on NASDAQ under the symbol "EMHO."
 EMONS HOLDINGS, INC.
 (Unaudited)
 Periods ended Three months Six months
 Dec. 31 1991 1990(A) 1991 1990(A)
 Revenues $2,779,164 $2,682,939 $5,528,373 $5,249,901
 Loss from continuing
 operations (551,364) (556,609) (944,336) (1,132,735)
 Income from discontinued
 operations --- 221,018 --- 424,359
 Net loss (551,364) (335,591) (944,336) (708,376)
 Preferred dividend
 requirements 66,269 66,269 132,538 132,538
 Loss applicable to
 common stock (617,633) (401,860) (1,076,874) (840,914)
 Average common shares
 outstanding (B) 5,061,484 5,050,112 5,055,798 5,034,189
 Loss per share
 from continuing
 operations (B) $(.12) $(.12) $(.21) $(.25)
 Earnings per share
 from discontinued
 operations --- .04 --- .08
 Loss per share (B) $(.12) $(.08) $(.21) $(.17)
 (A) Certain reclassifications have been made to fiscal 1991's financial statements to conform to fiscal 1992's presentations.
 (B) Does not include common share equivalents since they are anti-dilutive.
 /delval/
 -0- 2/12/92
 /CONTACT: Robert Grossman, chairman and president of Emons Holdings, 717-771-1701/
 (EMHO) CO: Emons Holdings, Inc. ST: Pennsylvania IN: TRN SU: ERN


LJ-MK -- PH010 -- 9172 02/12/92 10:55 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 12, 1992
Words:601
Previous Article:EL PASO ELECTRIC COMMENTS ON PAYMENTS ON PREPETITION DEBT
Next Article:THE BOSTON GLOBE PRESENTS ROUNDTABLE DISCUSSION ON PUBLIC EDUCATION
Topics:


Related Articles
EMONS HOLDINGS REPORTS FIRST QUARTER RESULTS
EMONS HOLDINGS REPORTS THIRD QUARTER RESULTS AND REACHES AGREEMENT IN PRINCIPLE TO MODIFY BUSINESS AND FINANCING TERMS OF RAIL SUBSIDIARY
EMONS HOLDINGS EXECUTES DEFINITIVE AGREEMENTS TO MODIFY BUSINESS AND FINANCING TERMS OF A RAIL SUBSIDIARY
EMONS HOLDINGS REPORTS YEAR-END AND FOURTH QUARTER RESULTS
EMONS HOLDINGS REPORTS YEAR-END AND FOURTH QUARTER RESULTS
EMONS TRANSPORTATION GROUP, INC. REPORTS A PROFITABLE FIRST QUARTER
EMONS TRANSPORTATION GROUP REPORTS SUBSTANTIAL IMPROVEMENT IN SECOND QUARTER RESULTS
EMONS TRANSPORTATION GROUP REPORTS PRELIMINARY YEAR-END RESULTS; SIGNIFICANT IMPROVEMENT RECORDED FOR REVENUES AND NET INCOME
EMONS TRANSPORTATION GROUP REPORTS FINAL YEAR-END RESULTS
EMONS TRANSPORTATION GROUP, INC., REPORTS A 79% INCREASE IN FIRST QUARTER EARNINGS AND A 17% GAIN IN REVENUES

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