CENDANT CORP.: The Stamford, Conn., marketing and franchising company reported preliminary first-quarter net income of $230-million, or 26 cents a diluted share. It said the earnings may be subject to slight revisions because of a continuing investigation of accounting problems. The company didn't give comparable figures for last year, saying the year-ago results aren't reliable because of the accounting irregularities. Revenues were $1.4-billion, up from $1.16-billion a year earlier.
TECHNOLOGY RESEARCH CORP.: The Clearwater company reported a net loss for its fiscal fourth quarter of $466,204, or 9 cents a diluted share, primarily because of inefficiencies and losses of its Honduran subsidiary. The results compare with net income of $49,641, or 1 cent, a year earlier. Revenues were $4.42-million, compared with $4.44-million a year ago. For the year, the company had a net loss of $196,314, or 4 cents a diluted share, on revenues of $18.4-million, compared with net income of $566,658, or 10 cents, on revenues of $15.4-million in the previous fiscal year.
W.R. GRACE & CO.: The Boca Raton chemicals and packaging company reported a first-quarter loss of $26-million, or 32 cents a diluted share, compared with net income of $46.4-million, or 60 cents a share, a year earlier. Revenues were $340.8-million, compared with $361.8-million a year earlier.