That was an improvement of 14 cents per share compared to the $400,000 or 11 cents per share in the first quarter of 2000. Raleigh is 150 miles northeast of Downtown Charlotte.
Included in net income for the first quarter of this year is a $356,000 or nine cents per share non-recurring tax benefit. The tax benefit came because the company achieved a significant and consistent level of profitability and has used all of its tax loss carry forward, according to the company's prepared statement.
Capital expects to record normal income tax expenses on income earned in future periods beginning with the second quarter of 2001.
On a pretax basis, first quarter net income was 16 cents per share in 2001, up five cents or 45% compared to 11 cents per share for the same period in 2000.
Total consolidated assets as of the end of March were $363 million, an increase of $117 million or 48% compared to the end of March last year.
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David Wilkening
David Wilkening began his long journalism career as a police reporter for Chicago-area newspapers. He became a writer-editor for major newspapers in Chicago, Washington, Detroit and Florida. He has been a business editor, political editor and travel editor for newspapers and magazines. He tried for a while to be a political operative but did better as an adjunct college professor teaching English and journalism. He is the author of several books, both ghost-written and under his own name. He is also a widely published freelance writer who currently lives in Orlando.
