|
|
Article: Municipal Development Corp. reports financial results for the fiscal year ended September 30.
- Article from:
- PR Newswire
- Article date:
- January 14, 1987
CopyrightCOPYRIGHT 1987 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
NEW YORK, Jan. 14 /PRNewswire/ -- Municipal Development Corporation (NASDAQ: MUNI) today reported a 52 percent increase in revenues and an 87 percent increase in net income for the fiscal year ended Sept. 30, 1986.
During the year, the company completed its first public offering of common stock and entered the business of privatization of services for public use.
Revenues for the 1986 fiscal year rose to $3,720,534 from $2,450,932 in fiscal 1985. Net income totaled $602,059, equal to 11 cents per share, compared with pro forma net income of $322,201, or 6 cents per share, in fiscal 1985.
Fourth-quarter revenues totaled $1,000,722, and ...