GEMCRAFT INC &lt;GEMH> YEAR NET

  Shr 42 cts vs 1.21 dlrs
      Net 2,317,000 vs 5,847,000
      Sales 360.0 mln vs 282.4 mln
      Avg shrs 5,463,000 vs 4,829,000
      NOTE: 1986 net includes 4,700,000 dlr pretax charge from
  writedown of land and abandonment of land and pretax charges of
  5,800,00 dlrs from pending rescission offer, settlements with
  U.S. agencies, adjustment of the prior booking of residuals
  arising from collateralized mortgage obligation bond issues,
  writedowns of land held by a joint venture, startup costs
  associated with entering new markets, an increase in reserves
  for customer service and writeoffs and reserves for
  mortgage-related receivables to reflect current market values.
  

