A one-time credit for terminating a facility...
A one-time credit for terminating a facility lease enabled Wespercorp to post net earnings of $8,000 for the first quarter ended Sept. 30, contrasted with a net loss of $95,000 for the first three months of fiscal 1987. During the quarter, Wespercorp realized a credit for deferred rent of about $240,000 after terminating its facility lease. The company subsequently entered into a new lease at lower rental rates. Sales for the quarter dropped 56% to $1.1 million from $2.5 million in the first quarter last year.
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