Comdisco generates $15 million of net earnings in fiscal 2006

By Angela McDaniels

Seattle, Dec. 15 - Comdisco Holding Co. Inc.'s net earnings for the fiscal year ended Sept. 30 were roughly $15 million, or $3.62 per basic and diluted common share, according to a company news release.

Total assets decreased by 12% to $110 million, including $97 million of unrestricted cash, at Sept. 30 from $125 million one year earlier.

The company attributed the decrease primarily to the roughly $30 million of cash distributions made to shareholders and contingent distribution rights holders in January 2006 and March 2006.

Total revenue was $28 million in fiscal 2006, 24% less than in fiscal 2005, according to the release.

Net cash provided by operating activities grew to $14 million for the fiscal year, compared with $4 million of net cash used by operating activities for the fiscal year ended Sept. 30, 2005.

Comdisco is a Rosemont, Ill., company formed to sell the assets of its predecessor Comdisco Inc. and distribute the proceeds. Comdisco Inc. emerged from Chapter 11 on Aug. 12, 2002.

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