TRANS-NATIONAL LEASING, INC. REPORTS RESULTS
TRANS-NATIONAL LEASING, INC. REPORTS RESULTS DALLAS, Nov. 21 /PRNewswire/ -- Trans-National Leasing, Inc.
(NASDAQ: TNLS) today announced increased revenues and a turnaround in earnings for the first quarter ended Sept. 30, 1991. Trans-National reported revenues of $1.9 million, up slightly from $1.8 million for the same quarter last year. Net income was $50,864, or 4 cents per share, compared to a net loss of $56,647, or 4 cents per share, a year ago.
John Maher, president, commented that the improved results are attributable to an increase in 1991 model year vehicle deliveries over 1990 and lower alternate minimum taxes, due to the reversal of timing differences upon sale of some of the units purchased after enactment of the 1986 tax act. Maher added that early 1992 model orders trail those for 1991 models somewhat, "and we expect the rest of our fiscal year to mirror the health of the U.S. economy in general and the South-western economy in particular." TRANS-NATIONAL LEASING, INC. Three months ended Sept. 30: 1991 1990 Revenues $1,856,997 $1,830,481 Net income (loss) 50,894 (56,647) Per share $.04 ($.04) Weighted average shares outstanding 1,367,586 1,367,586 -0- 11/21/91 /CONTACT: John Maher, president of Trans-National Leasing, 214-233-6806, Larry Howell of Howell Communications, 214-340-9994, for Trans-National Leasing/ (TNLS) CO: Trans-National Leasing Inc. ST: Texas IN: TRN SU: ERN TS -- NY061 -- 5905 11/21/91 12:38 EST
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|Date:||Nov 21, 1991|
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