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Non-Tech : FMAX (Franchise Mortgage Acceptance)

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To: Rosemary who wrote ()	4/21/1998 11:26:00 PM
From: Rosemary	Read Replies (1) of 25

Earnings look real good: FMAC Reports Record First Quarter 1998 Results LOS ANGELES--(BUSINESS WIRE)--April 21, 1998--FMAC (NASDAQ: FMAX - news) today announced its operating results for the three months ended March 31, 1998. FMAC's net income for the first quarter of 1998 was $7.2 million, compared to a proforma loss of ($1.6) million for the first quarter of 1997. This resulted in earnings per share of $0.25 in the first quarter of 1998, compared to a proforma loss of ($0.07) per share in the same quarter of 1997. First quarter 1998 revenues were $22.2 million, up 1,646 percent from $1.3 million for the first quarter of 1997. Average estimate was for 22 cents.

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