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Article: Atlas Consolidated Mining reports record earnings. (Atlas Consolidated Mining and Development Corp.)
- Article from:
- PR Newswire
- Article date:
- February 9, 1989
CopyrightCOPYRIGHT 1989 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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ATLAS CONSOLIDATED MINING REPORTS Record earnings of $36,196,000 for the year 1988 were announced today by Juan de Ibazeta, chairman and CEO of Atlas Consolidated Mining & Development Corp. (AMEX: ACMB). Earnings of $14,849,000 for the fourth quarter of 1988 also set a record of continuous quarterly profits since the end of 1987.
Earnings per share for the fourth quarter of 1988 were 18 cents compared to 9 cents in the same period of 1987. Record annual earnings of 43 cents per share contrasted dramatically with a loss of 10 cents per share for the 1987 year.
In addition to stringent cost controls and improved and innovative mining techniques ...