|
|
Article: Municipal Development Corporation reports third-quarter results.
- Article from:
- PR Newswire
- Article date:
- August 15, 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)
|
MUNICIPAL DEVELOPMENT CORPORATION REPORTS THIRD QUARTER RESULTS
NEW YORK, Aug. 15 /PRNewswire/ -- Municipal Development Corporation (NASDAQ: MUNI) today reported net income of $273,627 for its third fiscal quarter ended June 30, 1989. This result includes $896,009 of extraordinary income arising from the forgiveness of debt.
Increased losses at the company's Unibase Data Entry subsidiary raised the third quarter loss from continuing operations to $600,157 from $557,439 in the same period of the prior year. The net loss from discontinued operations totaled $22,225 in the third quarter versus a loss of $241,185 in the same period of the prior year. ...