Printer Friendly

KMC ENTERPRISES INC. ANNOUNCES FOURTH QUARTER 1991 AND YEAR-END RESULTS

 KMC ENTERPRISES INC. ANNOUNCES FOURTH QUARTER 1991
 AND YEAR-END RESULTS
 SAN JOSE, Calif., March 31 /PRNewswire/ -- KMC Enterprises Inc. (NASDAQ: KMCI) today reported results for the fourth quarter and year ended Dec. 31, 1991.
 Revenues and loss from continuing operations for the fourth quarter 1991 were $22,786,000 and $117,000 respectively, principally from the operations of the company's subsidiary, Krause's Sofa Factory. Net loss for the quarter ended Dec. 31, 1991, was $1,043,000, or $.26 per share, compared to net loss of $4,932,000 or $1.21 per share, in the same 1990 period. Included in the 1990 fourth quarter results was a loss of $4,225,000 or $1 per share, from the sale of certain Nutri/System franchise operations in December 1990. The company's former Nutri/System franchised weight loss business has been reflected as discontinued operations in the reported results.
 KMC Enterprises Inc., a 68 percent owned subsidiary of Worth Corp. (NASDAQ: WRTH), owns 62 percent of the outstanding common stock of Krause's Sofa Factory. Krause's is a large manufacturer and retailer of made-to-order upholstered furniture, based in Brea, Calif. Krause's presently sells its products through 68 retail showrooms in California and six other Western states. The company also operates, through a subsidiary, two Great Expectations(R) video dating service franchise centres located in the San Francisco Bay Area.
 KMC ENTERPRISES INC.
 (NASDAQ: KMCI)
 Summary of Operations
 (In Thousands, Except Per Share Results)
 Quarter Ended Dec. 31 Year Ended Dec. 31
 1991 1990 1991 1990
 Revenues From
 Continuing
 Operations $ 22,786 $ 136 $ 55,603 $ 756
 Loss From Continuing
 Operations $ (117) $ (212) $ (3,786) $ (747)
 Discontinued Operations:
 Loss from Discontinued
 Operations, Net of
 Income Taxes (926) (495) (926) (780)
 Gain (loss) from Sales
 of Discontinued Business,
 Net of Income Taxes -- (4,225) -- 2,235
 Total Discontinued
 Operations (926) (4,720) (926) 1,455
 Net Income (Loss) $(1,043) $(4,932) $(4,712) $ 708
 Income (Loss) Per Share:
 Loss From Continuing
 Operations $(.03) $(.06) $(.95) $(.18)
 Loss From
 Discontinued Operations (.23) (.12) (.23) (.19)
 Gain (Loss) From Sales
 of Discontinued Business -- (1.03) -- .54
 Net Income (Loss) $(.26) $(1.21) $(1.18) $.17
 Average Common Stock and
 Common Stock Equivalents
 Outstanding 4,002 4,086 3,983 4,151
 NOTE: Certain reclassifications of 1990 data were made to conform to 1991 presentation.
 -0- 3/31/92
 /CONTACT: Robert G. Sharpe of KMC Enterprises, 408-453-1800/
 (KMCI WRTH) CO: KMC Enterprises; Worth Corp. ST: California IN: SU: ERN


DG-RM -- SJ010 -- 3682 03/31/92 20:49 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 31, 1992
Words:421
Previous Article:ADVANCED INTERVENTIONAL SYSTEMS SIGNS LETTER OF INTENT TO ACQUIRE SUPPLIER OF FIBER OPTICS
Next Article:DAIN BOSWORTH NORTHWEST INDEX SHOWS MODEST GAIN; TOUGH TO PREDICT NATIONAL ECONOMY FROM STOCK MARKET RESULTS
Topics:


Related Articles
KMC ENTERPRISES ANNOUNCES THIRD QUARTER RESULTS
KMC, WORTH MAY COMBINE ENTITIES
KMC ENTERPRISES BOARD AGREES TO ACCEPT OFFER FROM WORTH
SAFEGUARD HEALTH ENTERPRISES INC. REPORTS SUBSTANTIAL INCREASE IN FOURTH QUARTER AND YEAR END NET INCOME AND EARNINGS
KMC ENTERPRISES ANNOUNCES FIRST QUARTER RESULTS
WIENER ENTERPRISES, INC. REPORTS FOURTH QUARTER AND YEAR END RESULTS
STOCKHOLDERS APPROVE KMC MERGER INTO WORTH SUBSIDIARY
KMC Telecom Reports 1997 Results
KMC Telecom Reports Fourth Quarter and Full Year 1998 Financial Results.
KMC Telecom Reports Revenue Growth of 163 Percent.

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