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Article: Sanders Morris Harris Group Reports Third Quarter Income From Continuing Operations of $0.04 Per Share; to Sell $7.5 Million of Shares to Fletcher International, Ltd. for $7.00 Per Share.
- Article from:
- PR Newswire
- Article date:
- November 9, 2009
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HOUSTON, Nov. 9 /PRNewswire-FirstCall/ -- Sanders Morris Harris Group Inc. today reported third quarter income from continuing operations of $1.2 million, or $0.04 per share. In the prior year, the quarter's results were a loss of $870,000, or $0.03 per share, from continuing operations excluding the sale of the Company's interests in Salient Partners and its Endowment Fund subsidiaries.
The Company also announced that it has agreed to sell $7.5 million of its common stock to Fletcher International, Ltd., an affiliate of private investment firm Fletcher Asset Management Inc., for $7.00 per share. Fletcher will also receive a 10-year warrant to purchase up to ...