MHI REPORTS FIRST QUARTER EARNINGS, REVENUE GAINS
MHI REPORTS FIRST QUARTER EARNINGS, REVENUE GAINS TALLAHASSEE, Fla., Aug. 18 /PRNewswire/ -- MHI Group, Inc.
(NYSE: MHI), which markets pre-need and at-need funeral and cemetery services, today reported a 58 percent gain in net income and a 13 percent rise in revenues for the first quarter ended July 31, 1992.
Three-month net income rose to $671,000 or four cents per share on revenues of $3,980,000 from net income of $426,000 or three cents per share on revenues of $3,526,000 for the same period last year. Included in the earnings were extraordinary gains from utilization of operating loss carryforward of $251,000 or one cent per share for the current year's quarter and $164,000 or one cent per share for the prior year's quarter. MHI owns and operates five funeral homes and four cemeteries in Florida. MHI GROUP, INC. (Unaudited) Three months ended July 31: 1992 1991 Revenues $3,980,000 $3,526,000 Income before extraordinary item 420,000 262,000 Extraordinary item(A) 251,000 164,000 Net income 671,000 426,000 Earnings per share Before extraordinary item $.03 $.02 Extraordinary item(A) .01 .01 Net $.04 $.03 Average shares outstanding fully diluted 17,050,478 16,905,294 (A) -- Utilization of net operating loss carryforward. -0- 8/18/92 /CONTACT: Fred O. Drake, Jr. of MHI, 904-385-8883/ (MHI) CO: MHI Group, Inc. ST: Florida IN: SU: ERN
LR-TS -- NY021 -- 0865 08/18/92 10:14 EDT
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|Date:||Aug 18, 1992|
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