|
|
Article: The CIT Group Announces Record Fourth Quarter and Record Annual Net Income of $87.3 Million, $.54 Per Diluted Share and $338.8 Million, $2.08 Per Diluted Share.
- Article from:
- Business Wire
- Article date:
- January 28, 1999
CopyrightCOPYRIGHT 1999 Business Wire. 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--(BUSINESS WIRE)--Jan. 28, 1999--
11th Consecutive Increase in Annual Net Income
The CIT Group, Inc. (NYSE: CIT) today announced record quarterly and full year results, marking its eleventh consecutive increase in annual net income. Fourth quarter 1998 net income was $87.3 million, up from $71.0 million reported for 1997. Net income for the 1998 full year totaled a record $338.8 million, up from $310.1 million reported in 1997. The 1997 earnings included a one-time pretax gain on the sale of an equity interest acquired in a loan workout and certain nonrecurring expenses, including an IPO related charge in the fourth quarter.
Excluding ...