Advertisement
YOU ARE HERE: LAT HomeCollectionsSales

EARNINGS

April 30, 1985

National Intergroup Inc. said sales during the first quarter were $171.8 million, down from $774.4 million a year earlier, reflecting a change in accounting methods after NII's sale of a 50% interest in its National Steel subsidiary. NII posted a net loss $17.9 million for the period. Results were hurt by National Steel's net loss of $39.8 million on sales of $514 million, compared to a $6.1-million loss on sales of $576.4 million in the first three months of 1984. NII's share of the subsidiary's current loss was $19.9 million. Earnings for 1984 were restated to $13.7 million from $52.6 million after company auditors learned of long-term commitments by NII's National Aluminum subsidiary to buy aluminum ingot at above-market prices. The lowered 1984 earnings contributed to a decision earlier this month by Bergen Brunswig of Los Angeles to cancel its planned merger with NII.

For detailed data and results of other companies, please see accompanying tables.

Advertisement
Los Angeles Times Articles
|
|
|