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Article: Municipal Development reports first-quarter loss.
- Article from:
- PR Newswire
- Article date:
- February 22, 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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MUNICIPAL DEVELOPMENT REPORTS FIRST QUARTER LOSS
NEW YORK, Feb. 22 /PRNewswire/ -- Municipal Development Corporation (MDC) (NASDAQ: MUNI) today reported a $513,214 loss for the first quarter ended Dec. 31, 1988.
Results for the first quarter of fiscal 1989 include the consolidation of Unibase Data Entry, Inc., the data entry subsidiary acquired by MDC on Jan. 28, 1988. These results also reflect the sale of Wolfberg/Alvarez & Associates, Inc. on Aug. 31, 1988 and the sale of substantially all of the assets of James J. Lowrey & Co., Incorporated. The company's consolidated financial reports have been restated to identify the effects of these ...