Article: First South Africa Corp., Ltd. Reports Sales and Earnings for the Quarter Ended March 31, 1998; Earnings Per Share $0.13 Primary and Fully Diluted.

COCONUT GROVE, Fla.--(BUSINESS WIRE)--May 13, 1998--First South Africa Corp., Ltd. (NASDAQ- FSACF) today released its fiscal third quarter results for the period ended March 31, 1998.

For the three months ended March 31, 1998, the Company reported net income of $917,715 or $0.13 a share, with 7,073,170 weighted average shares outstanding. Fiscal third quarter 1998, sales totaled $28.2 million. Consolidated earnings before taxes for the quarter totaled $2.15 million.

Included in the outstanding shares for the current quarter are approximately 1,173,000 shares issued in connection with the voluntary Warrant exchange that concluded in December ...

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