A spokesman for the Stamford, Conn. based company said operations had a loss of $5.5 million for the quarter; in addition, the loss was magnified by nonrecurring charges totaling $23.5 million and $8.2 million in asset - valuation adjustments that he described as " unusual. " The charges were partly offset by a $2 million gain on the sale of investments of two joint ventures, he said.
A spokesman for the Stamford, Conn. based company said operations had a loss of $5.5 million for the quarter; in addition, the loss was magnified by nonrecurring charges totaling $23.5 million and $8.2 million in asset - valuation adjustments that he described as " unusual".