IE Staff
(November 4) – Insurance claims
adjuster, Lindsey Morden Group, is
announcing a 15¢ per share loss for
the quarter ended September 30,
down from a 25¢ profit a year ago.
The company blames drops in its
North American business for the
losses, while stating that its
European operations remain
profitable. Operating earnings
fell to $2.6 million in the period
from $5.4 million last year.
Despite the bottom-line losses,
revenue is up 7% to $101.7 million
in the quarter, including the
results from Ellis & Buckle,
which the firm acquired on October
30, 1998. While this year’s results
don’t include a contribution from
Hambro Assistance, which it sold
on November 30, 1998.
-IE Staff
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