Charter Company - Performance

Performance

The company had sales totaling about $5 billion in 1981, while their earnings were $.06 per share, the lowest point in a decade. The drop was attributed to the oil glut, which drove down prices.

That year, Jack Donnell began eliminating some of the communications and publishing properties and whittled down the list of subsidiaries to a level the company could function with. Charter had net earnings of $53.89 million, or $2.01 a share in 1983. In 1984, the company reported a net loss of $749.34 million, $685 million of which the company attributed to discontinued operations, the expenses of filing for bankruptcy and provisions for estimated losses on disposal of assets which were partially offset by gains on assets sold.


Read more about this topic:  Charter Company

Famous quotes containing the word performance:

    Kind are her answers,
    But her performance keeps no day;
    Breaks time, as dancers,
    From their own music when they stray.
    Thomas Campion (1567–1620)

    There are people who think that wrestling is an ignoble sport. Wrestling is not sport, it is a spectacle, and it is no more ignoble to attend a wrestled performance of suffering than a performance of the sorrows of Arnolphe or Andromaque.
    Roland Barthes (1915–1980)