Intermark Inc. reported a $864,000 loss on...
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Intermark Inc. reported a $864,000 loss on $127-million revenue for its third quarter ended Dec. 31. The loss compares to a loss of $1.02 million on revenue of $113 million over the same 3-month period last year.
The loss brings Intermark’s year-to-date deficit to $6.2 million, a loss that reflects a $7-million charge for extinguishment of debt, a cost absorbed by the company during its first quarter. The year-to-date loss, which came on revenue of $437 million, contrasts with a $1.1-million profit on revenue of $375 million over the same 9-month period last year.
Intermark Chairman Charles R. Scott blamed the quarterly loss on seasonal lows in many of Intermark’s partner companies. In addition, the prior year’s results benefited from a $2-million gain on the sale of real estate.
Intermark is a La Jolla-based “miniconglomerate” which owns all or part of 10 companies.
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