To: Dave Shares who wrote (12942 ) 8/12/1998 2:32:00 PM From: Baghul Respond to of 120523
CNGR is a diversified investment company. They have invested in different businesses including Inktomi(INKT, Precision IBC and PAACO Automotive Group. The stock is selling around book value. Check out the news below Wednesday August 12, 1:31 pm Eastern Time Crown sees FY99 rev exceeding $100 mln DALLAS, Aug 12 (Reuters) - Acquisition and development company Crown Group Inc. Wednesday predicted its revenues will exceed $100 million in its current fiscal year that began May 1. ''The Crown Group has invested in a number of companies with excellent long-term growth prospects during the past year, and we are confident that our corporate strategy will maximize shareholder values in coming years,'' the company said accompanying its fourth quarter earnings report. ''Revenues should exceed $100 million for the first time in our company's history during the current fiscal year and operating earnings should also establish new records,'' it added. The company reported $0.07 per diluted share profits in the fourth quarter compared to a $0.07 loss a year earlier. A First Call consensus forecast was not immediately available. Company revenues totaled slightly more than $21 million in fiscal 1998. ''This was a significant transitional year for our company,'' Edward McMurphy, company president, said in the statement. ''Following our exit from the domestic gaming industry, we invested substantial amounts of capital into several companies with exciting growth prospects during fiscal 1998,'' he added. The fourth quarter was the first full quarter to reflect Crown's ownership in Paaco, Precision IBC, Concorde Acceptance Corp. and Casino Magic Neuquen, the statement noted. All of the units contributed to earnings except Concorde, which did not begin operations until June 1997, the statement noted.