|
|
Article: International Aircraft Investors Reports Fourth Quarter Results; Records After-Tax Charges of $16 Million; Restructures $95 Million of Notes Payable.
- Article from:
- Business Wire
- Article date:
- April 2, 2002
CopyrightCOPYRIGHT 2002 Business Wire. 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)
|
Business Editors
TORRANCE, Calif.--(BUSINESS WIRE)--April 2, 2002
International Aircraft Investors (NASDAQ:IAIS), today announced it recorded fourth quarter after-tax charges of $16 million for the write-down of aircraft values, losses expected to be incurred in the future and a valuation allowance against its net operating loss carry-forwards. As a result of the charges, the Company reported a net loss of $16.4 million or $4.58 per share. Prior to the charges, the Company recorded a loss of $384,000 or $.11 per share.
Because of the terrorist attacks on September 11, 2001 and the slowdown in the economies of the United States and other ...