FOOTHILL GROUP <FGI> SEES BETTER FIRST QUARTER
Don Gevirtz, chairman of The Foothill
Group Inc, told Reuters the company's first quarter results
will be up sharply over last year's eight cents a share.
    "First quarter results will be dramatically better," he
said following a presentation to analysts. He cited a sharp
drop in non-earning assets, healthy asset growth and lower
expenses.
    He declined to predict specific results for the first
quarter. In the 1986 first quarter, the commerical finance
company earned 606,000 dlrs, or eight cts per share.
    Gevirtz also declined to predict full year results, but
said, "We expect an excellent year." In 1986 Foothill earned
3,239,000 dlrs, or 41 cts per share.
    Analysts expect Foothill to record earnings of 65 cts to 85
cts a share in 1987.
    During the presentation Gevirtz said Foothill has reduced
to less than five pct the company's level of non-performing
assets, which was as high as eight pct in previous years.
    David Hilton, chief financial officer, said the company's
general and administrative expenses in 1987 will be reduced to
about 3.0 to 3.5 pct of average assets from 4.3 pct in 1986.
    The company had average assets of 399.8 mln dlrs from
continuing operations and 29.8 mln dlrs from discontinued
operations in 1986, according to its annual report.
 Reuter
