Hayes Corp. ties Chapter 11 filing to tumbling sales
Article Abstract:
Hayes Corp. has filed for Chapter 11 bankruptcy protection from its creditors. Ron Howard, president and vice chairman of the modem manufacturer, which previously filed Chapter 11 in 1994, stated that the company has seen a severe drop in the sales of the lower-margin analog modems that provide about 90% of total revenue. According to Mr. Howard, the company listed its assets and liabilities of less than $100 million each. Mr. Howard also stated that Hayes will emerge from the reorganization as a stronger company.
Comment:
Hayes Corp. files for Chapter 11 protection for the second time since 1994
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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AMR's 2nd-quarter profit jumps 35%, but results prompt a sell-off of stock
Article Abstract:
AMR Corp., the parent company of American Airlines, posted an increase in its 1998 second-quarter profits of 35%. The figure was the largest earnings in AMR's history. However, the results raised concerns over whether or not the boom in the airline industry is beginning to peak. AMR posted $409 million in earnings for the quarter, compared to $302 million during the same period in 1997. Revenues increased 6.4% to $5.01 billion for the quarter.
Comment:
Posted an increase in its 1998 second-quarter profits of 35%
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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