Admar Group Says Third Quarter Net Increased by 214%
- Share via
The Admar Group Inc. said net earnings for its fiscal 1987 third quarter, ended Oct. 31, increased 214% to $195,000 from $62,000 a year earlier. Citing its rapid expansion during the year, the Orange-based health care company said fiscal third-quarter revenues increased 135% to $2.3 million from $976,000 for the third quarter of its fiscal 1986.
For the first nine months, Admar said, net earnings rose 183% to $533,000 from the year-earlier figure of $188,000. Revenues totaled $6.4 million, up 121% from $2.9 million.
Admar became a public company in August when it merged with Castle Ventures Corp., an investment company. Under terms of the agreement, Admar traded all of its common stock for an 85% stake in Castle. After the merger, Castle, which had no operations of its own, changed its name to Admar.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.