Harvard Industries, Inc. Reports First Quarter Results
TAMPA, Fla., Feb. 13 /PRNewswire/ -- Harvard Industries Inc. (OTC Bulletin Board: HAVAQ) (Debtor-In-Possession "DIP"), a major producer of OEM automotive parts and accessories today filed their Report on Form 10Q for the quarter ended December 31, 1997.
Consolidated net sales amounted to $197,052,000 for the quarter ended December 31, 1997, compared with $187,261,000 for quarter ended December 31, 1996.
The net loss for the quarter ended December 31, 1997 attributable to common shareholders was $5,519,000. After deducting accrued dividends and accretions of $4,224,000 related to the Company's 14 1/4 PIK Preferred stock, the net loss attributed to common shareholders was $34,392,000 for the quarter ended December 31, 1996.
"We are encouraged by the upward trend of our financials as we continue our restructuring," said Roger Pollazzi, Harvard's chief operating officer. "The core elements of our business continue to play a critical role in the automotive industry and form the foundation for our vision of Harvard's future. We are confident that, when complete, our strategic plan will return Harvard Industries to the top echelon of the automotive OEM indus |
