Corroon & Black Corp. reported net income for the fourth quarter of $8 million, or 47 cents a share, up from $6.2 million, or 36 cents a share, for the fourth quarter of 1987.
Revenue in the fourth quarter totaled $106.6 million, up from $90.7 million in the fourth quarter of 1987.Income from continuing operations for 1988 was $115.9 million, or $6.77 a share. The 1988 results included a non-recurring gain, net of taxes, of $73.85 million, or $4.31 a share, from the sale of the firm's investment in Minet Holdings PLC. Excluding the non-recurring gain, income from continuing operations in 1988 was $42.04 million, or $2.46 per share, down slightly from $44.6 million, or $2.35 a share, for 1987.
Net income for the year was $115.9 million, or $6.77 a share, up from $44.4 million, or $2.34 a share, in 1987.
Revenue for 1988 totaled $424.9 million, up $392.2 million in 1987.