Lahaina Acquisitions Reports Net Income of $305,655 for First Quarter
Business Editors
ALPHARETTA, Ga.--(BUSINESS WIRE)--Feb. 23, 2000--Lahaina
Acquisitions, Inc. (OTC Bulletin Board: LAHA)("Lahaina" or "The Accent
Group"), a leading mortgage brokerage services provider, today
reported its results of operations for the first quarter ended
December 31, 1999.
Revenues for the three-month period totaled $2,777,142, which
includes a gain of $1,090,781 relating to the previously announced
sale of certain development rights associated with a tract of
undeveloped land in McMinn County, Tennessee. Net income for the
three-month period totaled $305,655, or basic and diluted earnings of
$0.02 per share. Net income reflects a tax provision of $115,000,
primarily resulting from the tax treatment relating to the sale of
Lahaina's wholly owned subsidiary, Beachside Commons I, Inc.
etc etc..... |
