< and a fourth quarter loss related primarily to the write down on certain assets, including good will of its 7-7, Inc. subsidiary.> Not the news I wanted to hear. Anthony,I think your assumption ($7M +/-)is probably pretty close.
*1st quarter "Net Income. For the three months ended March 31, 1997 and 1996, net income was $176,399 and $508,353, respectively. For the three months ended March 31,1997 and 1996, net income per share was approximately $.01 and $.05,respectively."
*second quarter "Net Income. For the three months ended June 30, 1997 and 1996, net income (loss) was($4,626,013) and $803,375,respectively. Net income (loss) per share was approximately ($.25) and $.08, respectively."
*third quarter "Net Income. For the three months ended September 30, 1997 and 1996,net pre-tax income was $366,183 and $16,674, respectively. Net income after deduction for income tax provisions for the three months ended September 30,1997 and 1996 was $208,538 and $10,339, respectively. Net income per share for the third quarter of 1997 and 1996 was approximately $.01 and $.00, respectively.
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*for the first three quarters "Net Income. For the nine months ended September 30, 1997 and 1996, net pre-tax income (loss) was ($6,195,134) and $3,332,791, respectively. For the nine months ended September 30, 1997 and 1996 net income (loss) after provisions
for income taxes was ($4,253,158) and $2,066,332, respectively. For the nine months ended September 30, 1997 and 1996, net income (loss) per share was approximately ($.14) and $.19, respectively.
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*from the filing "In the same notification with the Securities & Exchange Commission, ConEco estimated that it would report a total loss of $11 million for the year ended December 31, 1997. The loss is related primarily to a second quarter write-down on assets totaling approximately $4.6 million and a fourth quarter loss related primarily to the write down on certain assets, including good will of its 7-7, Inc. subsidiary. This is compared to a loss of approximately $4.2 million for the fiscal year ended December 31, 1996.
***does not paint a pretty picture....DD |
