Earnings out today July 15th, 1996
Advanced Materials Group (NASDAQ: ADMG) Monday reported results
for its fiscal 1996 second quarter ended May 31, 1996.
The company also announced that it concluded negotiations with
Wilshire Technologies Inc. (ASE: WIL) to retire the company's note
payable at a discount. The settlement will result in a one-time
gain of approximately $525,000 in the third quarter of fiscal 1996.
For the quarter, the company achieved net income of $2,543,000,
or 24 cents per share, vs. a net loss of $380,000, or 4 cents per
share, for the second quarter of fiscal year 1995. The results for
the current quarter include a gain of $2,463,000 from the company's
sale of investments in securities and a gain of $572,000 on stock
rights. |
