Printer Friendly

RECOGNITION TO RECORD GAIN IN FOURTH QUARTER

 RECOGNITION TO RECORD GAIN IN FOURTH QUARTER
 DALLAS, Nov. 2 /PRNewswire/ -- Recognition Equipment Incorporated


(NYSE: REC) announced today that it will record a gain of approximately $2.5 million, or 19 cents per share of common stock during the company's fourth quarter which ended Oct. 31, 1992. The gain is the result of a settlement of the company's lawsuit against Harbor Insurance Company (now Continental Insurance Company), Recognition's former directors and officers liability insurance carrier.
 In the lawsuit, Recognition sought to recover various costs and expenses incurred in the defense of criminal proceedings of which the company and offr?s were acquitted in 1989 and in the defense and settlement of associated civil suits. In the settlement, Recognition released any further claims under the insurance policies.
 Recognition Equipment Incorporated, headquartered in Dallas, manufactures, sells and services automated work processing systems throughout the world.
 -0- 11/2/92
 /CONTACT: Larry H. Lattig of Recognition Equipment Incorporated, 214-579-6314/
 (REC) CO: Recognition Equipment Incorporated ST: Texas IN: SU:


SH -- NY022 -- 1523 11/02/92 10:50 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:Nov 2, 1992
Words:174
Previous Article:UNITED INTRODUCES SKI HANDLING PROGRAM ALLOWING SKIERS TO TRAVEL LIGHT
Next Article:WACKENHUT ANNOUNCES STOCK AND INCREASED CASH DIVIDENDS
Topics:


Related Articles
RECOGNITION TO RECORD GAIN IN FOURTH QUARTER
RECOGNITION ANNOUNCES 1993 NET INCOME INCREASE OF 64 PERCENT
RECOGNITION ANNOUNCES FOURTH QUARTER AND FISCAL 1994 FINANCIAL RESULTS
APII Announces Record Third Quarter Sales; Sixth Consecutive Quarter of Increased Revenue.
Blue Pumpkin Software Caps Impressive Growth Year With Banner Fourth Quarter.
LeCroy Corporation Anticipates Stronger-Than-Expected Fourth-Quarter Fiscal 2001 Financial Results.
LeCroy Corporation Reports Record Fourth-Quarter Fiscal 2001 Revenues.
Reynolds and Reynolds Reports Expected 2005 Fourth Quarter and Fiscal Year Results.
Softrax Posts Strong Quarter-Over-Quarter Gains to Set New Sales Record.

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