Kent Financial Services Reports Financial Results
BEDMINSTER, N.J.--(BUSINESS WIRE)--Nov. 7, 2000--KENT FINANCIAL SERVICES, INC. ("KENT") (NASDAQ - KENT) reported a net loss for the three months ended September 30, 2000, of $122,000, or $.07 per share, compared to a net loss of $616,000, or $.32 per share, for the comparable period in 1999. For the nine months ended September 30, 2000, net income was $948,000, or $.51 per share, compared to a net loss of $218,000, or $.11 per share, for the comparable period in the prior year. Per share information referred to in this news release is both basic and diluted earnings per share.
In February, 2000, the Board of Directors authorized the purchase of 200,000 shares of the Company's common stock in open market and private transactions. To date, approximately 93,000 shares have been purchased. On November 6, 2000 the Board of Directors increased the shares authorized for purchase to 267,000 subject to market conditions, the Company's financial position and other considerations.
Kent has 1,827,672 shares outstanding. |
