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Petroleum industry

Hallwood Group Inc. Reports Fiscal 1995 Third Quarter Results

Strategic Insights

— 1 min read

The Hallwood Group Inc. announced its fiscal 1995 third quarter results, with revenue reaching $31.1 million, compared to $29.6 million in the prior-year quarter. The net loss was $73,000, or $0.01 per share, compared to net income of $541,000, or $0.10 per share, a year ago. The results were affected by several one-time expenses and gains, including a $1.5 million expense for litigation settlement and an extraordinary gain from extinguishment of debt in the amount of $648,000.

Key Takeaways:

  • Revenue in the fiscal 1995 third quarter was $31.1 million, a 5.6% increase from the prior-year quarter.
  • The net loss was $73,000, compared to net income of $541,000 in the prior-year quarter.
  • Asset Management, including real estate and energy segment, earned $507,000 on revenue of $2.7 million in the quarter.
  • The real estate segment reported income of $649,000, compared to a loss of $1.2 million in fiscal 1994.
  • The energy segment reported a loss of $142,000 for the fiscal 1995 quarter, which includes a $464,000 impairment cost from the write-off of certain oil and gas assets.
  • Operating Subsidiaries reported earnings of $560,000 in the fiscal 1995 quarter, compared to $1.8 million in the corresponding fiscal 1994 quarter.
  • The hotel segment reported earnings of $370,000, down from $1.2 million in the prior-year quarter.
  • Associated Companies reported earnings of $262,000 for the fiscal 1995 third quarter, compared to earnings of $434,000 in the quarter a year ago.

Statistics:

  • Revenue: $31.1 million (third quarter 1995), $29.6 million (third quarter 1994)
  • Net income (loss): $73,000 (third quarter 1995), $541,000 (third quarter 1994)
  • Asset Management revenue: $2.7 million (third quarter 1995), $2.6 million (third quarter 1994)
  • Real estate segment income: $649,000 (fiscal 1995), -$1.2 million (fiscal 1994)
  • Energy segment loss: -$142,000 (third quarter 1995), $332,000 (third quarter 1994)
  • Operating Subsidiaries revenue: $22.0 million (third quarter 1995), $19.4 million (third quarter 1994)
  • Hotel segment earnings: $370,000 (third quarter 1995), $1.2 million (third quarter 1994)
  • Associated Companies earnings: $262,000 (third quarter 1995), $434,000 (third quarter 1994)

Sources:

  • Hallwood Group Inc. (NYSE: HWG) - June 14, 1995 press release
  • Hallwood Group Inc. (NYSE: HWG) - April 30, 1995 quarterly earnings report
  • Hallwood Group Inc. (NYSE: HWG) - fiscal 1995 third quarter results

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