Textile maker Hallwood Group reports net income loss
15 May '06
2 min read
Income Tax Expense. For the first quarter of 2006, income tax expense was $483,000, which included $250,000 of non-cash deferred federal tax expense and $233,000 of state tax expense, compared to the first quarter of 2005 income tax expense of $1.0 million, which included $491,000 of non-cash deferred federal tax expense, $6,000 of current federal tax expense and $508,000 of state expense.
Texas based The Hallwood Group Incorporated is a diversified holding company operating in two industry segments: real estate and textile products. The Company's real estate operations formerly included 116 buildings under management in six states. The Company's textile products subsidiary is an integrated textile company that develops and produces innovative woven fabrics through specialized finishing, treating and coating processes.
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