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August 16, 1988

MEMOREX HAS PROFIT BEFORE TAX FOR ITS 1 FISCAL QUARTER

By CBR Staff Writer

Memorex Telex NV, which is talking in terms of London and New York listings for its shares shortly, reports that for its first fiscal quarter it had profit before tax, interest and other charges, of $44.6m on sales of $518.3m, and as no net figure is given, it sounds as if the company made a loss at the net level: the quarter is the first to show combined Memorex and Telex sales; debt fell by $101.5m but it is still a lofty $1,542m.

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