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Subject: Allstate Financial's Profit Up<
Date: Tue, 3 Nov 92 04:45:22 EST
Message-ID: <13.1992Nov3.044522@AmeriCast.com>

Allstate Financial's Profit Up<

Allstate Financial Corp. of Arlington reported that its profit in
the third quarter rose 34 percent, to $895,095 from $668,101 in
the same quarter last year.

 Because the company issued more stock in the quarter, earnings
fell on a per-share basis, to 29 cents a share from 32 cents.

 Allstate is what's called a factoring company; it buys accounts
receivable from companies, thus giving the companies access to
cash before their customers pay their bills.

 Allstate's revenue fell 5 percent in the quarter, to $2.77 mil-
lion from $2.92 million in the year-earlier quarter.

 The company said that the amount of receivables bought in the
quarter fell because managers put "significant marketing and
sales efforts" into Allstate's stock offering.

 For the first nine months of the year, profit was $2.42 million
(93 cents), up 36 percent from $1.78 million (88 cents) in the
same period last year.

 Revenue was $8.29 million in the first nine months, up 7 percent
from $7.77 million a year earlier.

02:11 11-03C9999-----

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