Results of discontinued operations reflected a loss of $86,000, or $0.01 per diluted share, for the third quarter of 2006, compared with a loss of $32,000, or $0.01 per diluted share, for the third quarter of 2005.
For the first nine months of 2006, the loss from discontinued operations was $2,137,000, or $0.16 per diluted share, compared with income of $295,000, or $0.02 per diluted share, in the year-earlier period.
The loss from discontinued operations in 2006 was primarily related to settlement expenses for a defined benefit pension plan terminated in June of this year.
Including discontinued operations, the Company reported net income of $2,617,000, or $0.20 per diluted share, for the third quarter of 2006, compared with net income of $1,221,000, or $0.09 per diluted share, for the third quarter of 2005.
For the first nine months of 2006, net income was $4,396,000, or $0.34 per diluted share, compared with net income of $7,004,000, or $0.54 per diluted share, in the 2005 period.
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