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Article: Grupo Sidek Announces Final (Audited) Results For The Year Ended December 31, 1998.

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PR Newswire
Article date:
May 6, 1999
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GUADALAJARA, MEXICO, May 6 /PRNewswire/ -- Grupo Sidek, S.A. de C.V. (OTC Bulletin Board: GPSAY GPSBY) ("SIDEK") announced today its final (audited) results for the year ended December 31, 1998.

Sidek's revenues increased approximately 1% during 1998 as compared to the same period of 1997, from Ps.4,861 million to Ps. 4,919 million. Sidek recorded financing expense of Ps. 482 million in 1998 versus a financing income of Ps. 464 million in 1997 due principally to the significant devaluation of the peso versus the dollar in 1998. Primarily, as a result of the foregoing, Sidek recorded a net loss of majority stockholders equity of Ps.2,211 million in 1998, versus ...

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