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Article: Lone Wolf Reports Downward Adjustment to Zenex Communications' Earnings.
- Article from:
- PR Newswire
- Article date:
- June 23, 2000
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OKLAHOMA CITY, June 23 /PRNewswire/ --
Marc Newman, president of Lone Wolf Energy Inc. (OTC Bulletin Board: LWEI), announced today that the Company's newly-acquired subsidiary, Zenex Communications Inc., incurred a $158,000 loss during the first quarter 2000 on $1,295,000 in revenues, rather than the $224,000 pre-tax earnings previously reported. In addition, the pre-tax earnings for the month of April were $98,000 on $996,000 in revenues, rather than the $190,000 previously reported. "Due to the dramatic increase in long distance minutes during the last few months, Zenex incurred higher than expected main carrier costs, which resulted in lower earnings than ...