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» Commodore Announces Another Loss «
PHILADELPHIA - Commodore International Ltd., after months of unexplained
delay, revealed late Friday (11-12-93) that it lost $356 million for the
year ended June 30, obliterating shareholders' equity, which fell from
$325 million June 30, 1992, to negative $53.2 million.
The report raises "substantial doubts about the company's ability to
continue as a going concern," Commodore said in the report, which normally
would have been issued in August.
The West Chester, Pa., firm also said it lost $9.7 million in the quarter
ended Sept. 30. Officials were unavailable.