Abrams' Red Ink Continues to Flow

ATLANTA-Abrams Industries Inc., a 78-year-old, locally based commercial construction, real estate investment and development firm, is reporting a net loss from continuing operations of $948,406 for its first fiscal quarter ended July 31, compared to a net loss of $464,948 last year.

“We certainly are disappointed with the current operating results,” company co-chairman, president and CEO Alan R. Abrams says in a statement. He says the first-quarter performance was “significantly impacted by legal and professional fees of approximately $367,000.”

However, Abrams says he “remains confident that our ongoing strategies to diversify our revenue base by entering new business markets and broadening our product and service offerings will enable us to re-create a profitable business in the near future that benefits our shareholders and stakeholders.”