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Article: American Carriers reports fourth quarter loss.
- Article from:
- PR Newswire
- Article date:
- March 17, 1988
CopyrightCOPYRIGHT 1988 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)
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AMERICAN CARRIERS REPORTS FOURTH QUARTER LOSS
OVERLAND PARK, Kan., March 17 /PRNewswire/ -- American Carriers Inc. (ACI) (NASDAQ: ACIX) reported a fourth quarter 1987 net loss of $10,558,000 or $1.40 per share compared to fourth quarter 1986 earnings of $2,127,000 or 35 cents per share.
The loss in the fourth quarter is largely attributable to the inclusion of Smith's Transfer Corporation which was acquired Oct. 4, 1987. For the year 1987, the net loss totaled $15,495,000 or $2.40 per share compared to net income of $5,553,000 or $1.04 per share for the prior year.
Consolidated revenue for 1987 increased over 1986 by 73 percent in the ...