Edgar link:
edgar-online.com
Hope this works for you.
Pulled this off AOL:
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Sept. 29, 1997--Alanco
Environmental Resources Corp. (NASDAQ:ALAN) Monday announced sales
for the fiscal year ended June 30, 1997, were at an all time high of
$7,058,000, an 87 percent increase from $3,769,000 in the 1996
fiscal year.
As of June 30, 1997, the company closed its insurance adjusting
division which had reported losses in prior years. This resulted in
a write-down of assets reflected under discontinued operations. The
company also reported a write-down of its mining properties
consistent with accounting standards. The company continues to own
its mining properties and rights, and is seeking a joint venture or
sale of the mining properties.
The company reported a net loss from continuing operations of
$4,746,000, or $0.14 per share, compared to a loss of $3,205,000, or
$0.10 per share, for the prior fiscal year. Eliminating the
write-down of the mining properties, which accounts for $0.08 of the
loss, the remaining loss for the fiscal year of $0.06 represents an
improvement over the prior fiscal year.
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*T
Alanco Environmental Resources Corp.
Consolidated Statement of Operations
Fiscal Year Ended
June 30, June 30,
1997 1996
Net Sales $7,058,000 $3,769,000
Loss from discontinued
operations 2,361,000 322,905
Loss from continuing
operations(a) 4,746,000 3,205,000
Net loss per share:
from discontinued operations $0.07 $0.01
from continuing operations(a) $0.14 $0.10
Weighted average common
shares outstanding 34,320,608 31,782,296
(a) Includes write-down of assets of $2,835,000, or $0.08 per share.
*T
CONTACT:
Alanco Shareholder Relations, 602/607-1010
KEYWORD: ARIZONA
BW0332 SEP 29,1997
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