WHITTAKER &lt;WKR> TO HAVE GAINS FROM SALES

  Whittaker Corp said it will have a
  gain on the sale of discontinued businesses after any operating
  losses from the businesses up until the dates of disposition,
  but it will defer reporting the gain until its restructuring
  program hsa been substantially completed.
      The company said in the first quarter ended January 31,m it
  completed the divestiture of its health maintenance
  organization operations to Travelers Corp &lt;TIC> , sold its
  Whittar Steel Strip operations to &lt;DofascoxInc> and sold its
  equity investment in Bertram-Trojan Inc to an affiliate of
  &lt;Investcorp>.
      The company said it has entered into definitive agreements
  to sell Whittaker General Medical Corp, Bennes MArrel SA of
  France and Juster Steel Corp as well.
      The company said to date it has received proceeds of about
  90 mln dlrs from divestitures and has used the funds to reduce
  debt incurred in the repurchase of its common shares.
      Whittaker today reported first quarter earnings from
  continuing operations fell to 1,522,000 dlrs from 3,501,000
  dlrs a year before. The year-earlier figure excluded a
  1,817,000 dlr loss from discontinued operations.
  

